BTC/USDT – 1H – SELL

The currency pair Bitcoin/Tether (BTC/USDT) jumps from the descending trendline down.

A continuation of the bearish trend down to the next support line at 112650.000000000 is expected.

Caution: A possible counter-trend in the direction of the resistance level at 116980.000000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 114640.14 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 116980.000000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Matching Low’ chart pattern is existing. The candles show ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).

116980.000000000 – 118575.000000000 – 117898.990000000 – 114640.140000000 – 117172.210000000 – 117143.980000000 — 30.411328300189 – 30.272898389708

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Matching Low – Double top chart pattern – –