BTC/USDT – 30M – SELLThe pair Bitcoin/Tether (BTC/USDT) moves from the bullish trendline downwards
A descending movement down to the next support level at 85420 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 88127.64 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 84425 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 88127.64 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Inside Down’ candlestick pattern is found. The chart shows ‘Three Inside Down’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 92541.92 |
| 2nd High | 88250 |
| Next High | 88127.64 |
| Current Price | 85935.630000000 |
| Next Low | 85420 |
| 2nd Low | 80600 |
| 3rd Low | 78969.58 |
88127.64 – 86860 – 85572.82 – 85946.65 – 85420 – 80600 — 44.074061299562 – 41.381419506882 — 59.115339987554 – 62.521798468421 – 47.802721628809 – 57.765095686993
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Three Inside Down – Double top chart pattern – –