Besides a ‘Rising Wedge Chart Pattern’ chart formation is discovered. The chart picture shows ‘Rising Wedge Chart Pattern’. which is a bearish pattern signal. The currency pair is likely to go down.
The combination Bitcoin/Tether (BTC/USDT) moves from the bullish trendline downwards
A descending movement down to the next support line at 85420 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 88127.64 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘%K crosses below %D’ indicator layout is found. The indicator shows ‘%K crosses below %D’. which could be a negative signal. The pair is likely to go down.
Besides a ‘Last Engulfing Bottom:’ chart pattern is detected. The chart shows ‘Last Engulfing Bottom:’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 92541.92 |
| 2nd High | 88250 |
| Next High | 88127.64 |
| Current Price | 87460.020000000 |
| Next Low | 85420 |
| 2nd Low | 80600 |
| 3rd Low | 78969.58 |
88127.64 – 86860 – 85572.82 – 85420 – 80600 – 86100 — 58.072279474795 – 55.467080656556 — 56.583987294469 – 51.288069880419 – 48.405969730942 – 52.410703163926
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Last Engulfing Bottom: – Rising Wedge Chart Pattern – –