BTC/USDT – 1H – SELLNext a ‘Rising Wedge Chart Pattern’ chart pattern is discovered. The chart forms ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The currency pair is likely to fall.
The pair Bitcoin/Tether (BTC/USDT) moves from the ascending trendline down.
A bearish movement down to the next support at 115127.270000000 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 116665.630000000 could occur.
Consider stop-loss settings accordingly.
Next a ‘Southern Doji’ chart pattern is discovered. The candles show ‘Southern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 118575.000000000 |
| 2nd High | 117429.050000000 |
| Next High | 116665.630000000 |
| Current Price | 115776.310000000 |
| Next Low | 115127.270000000 |
| 2nd Low | 114740.990000000 |
| 3rd Low | 113430.000000000 |
116665.630000000 – 116331.810000000 – 114313.130000000 – 115127.270000000 – 114740.990000000 – 113430.000000000 — 49.390267871694 – 48.798665413428
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Southern Doji – Rising Wedge Chart Pattern – –