BTC/USDT – 1H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) jumps from the ascending trendline downwards
A bearish descent down to the next support at 113430.000000000 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 115666.680000000 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 118575.000000000 |
| 2nd High | 117429.050000000 |
| Next High | 115666.680000000 |
| Current Price | 115194.140000000 |
| Next Low | 113430.000000000 |
| 2nd Low | 110766.660000000 |
| 3rd Low | 110621.780000000 |
114313.130000000 – 113293.290000000 – 112924.370000000 – 113430.000000000 – 110766.660000000 – 111111.000000000 — 64.990501133588 – 60.973913688839
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Double bottom chart pattern – –