DOGE/USDT – 1H – SELL

The pair Dogecoin/Tether (DOGE/USDT) jumps from the bearish trendline downwards

A continuation of the downtrend downwards to the next support level at 0.09955 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 0.11053 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 0.0983742 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.11053 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Last Engulfing Bottom:’ candlestick pattern is existing. The candles form ‘Last Engulfing Bottom:’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).

0.11053 – 0.11056 – 0.1065 – 0.10226 – 0.10555 – 0.09955 —
0.104830000 – 0.103210000 —
38.992948178575 – 37.434644332563 —
– —
0.11053 – 1770132000

Trading Signals: CRYPTO – DOGE – DOGE/USDT – USDT – Last Engulfing Bottom: – Double top chart pattern – –