BTC/USDT – 1H – SELLNext a ‘Rising Wedge Chart Pattern’ chart layout is detected. The chart shows ‘Rising Wedge Chart Pattern’. which is a bearish chart scenario. The currency pair is likely to fall.
The currency pair Bitcoin/Tether (BTC/USDT) moves from the bullish trendline down.
A bearish descent down to the next support at 114740.990000000 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 116665.630000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candle pattern is existing. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 118575.000000000 |
| 2nd High | 117429.050000000 |
| Next High | 116665.630000000 |
| Current Price | 115937.990000000 |
| Next Low | 114740.990000000 |
| 2nd Low | 113430.000000000 |
| 3rd Low | 110766.660000000 |
116665.630000000 – 116331.810000000 – 114313.130000000 – 114740.990000000 – 113430.000000000 – 110766.660000000 — 58.475545830727 – 56.024441366012
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern – –