BTC/USDT – 1H – BUYAdditionally a ‘Double bottom chart pattern’ chart formation is discovered. The chart shows ‘Double bottom chart pattern’. which is a bullish chart scenario. The currency pair is likely to rise.
The pair Bitcoin/Tether (BTC/USDT) jumps from the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance level at 118922.450000000 will persist.
Caution: A possible change in the direction of the support level at 116359.890000000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘StochRSI cross above 20’ indicator signal is detected. The indicator is ‘StochRSI cross above 20’. this is usually a bullish chart signal. The pair is likely to go up.
Additionally a ‘Bullish Engulfing’ candlestick pattern is found. The candles show ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 119800.000000000 |
| 2nd High | 119273.360000000 |
| Next High | 118922.450000000 |
| Current Price | 118308.850000000 |
| Next Low | 116359.890000000 |
| 2nd Low | 114259.000000000 |
| 3rd Low | 112650.000000000 |
117944.050000000 – 115716.000000000 – 115720.000000000 – 116359.890000000 – 114259.000000000 – 112650.000000000 — 62.816881753762 – 67.570847595637
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bullish Engulfing – Double bottom chart pattern – –