ETH/USDT – 1H – SELLThe combination Ethereum/Tether (ETH/USDT) moves from the ascending trendline down.
A bearish movement down to the next support level at 2785.04 will continue.
Caution: A possible change in the direction of resistance at 2987 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 2805.285 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 2987 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ candle chart pattern is discovered. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3223.38 |
| 2nd High | 3169.95 |
| Next High | 2987 |
| Current Price | 2871.700000000 |
| Next Low | 2785.04 |
| 2nd Low | 2763 |
| 3rd Low | 2704.33 |
2987 – 2885.75 – 2858.16 – 2785.04 – 2763 – 2704.33 — 51.406689592234 – 44.683619501288 — 5.8160184691884 – 1.4242585686379 – 12.017976451441 – 7.212454862961
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Three Black Crows – Rising Wedge Chart Pattern – –