BCH/USDT – 1H – SELLThe pair Bitcoin Cash/Tether (BCH/USDT) moves from the descending trendline downwards
A continuation of the downward movement down to the next support level at 511.2 will persist.
Caution: A possible change in the direction of the resistance line at 540.8 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘Bearish Engulfing’. 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 probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 544.1 |
| 2nd High | 542.8 |
| Next High | 540.8 |
| Current Price | 533.000000000 |
| Next Low | 511.2 |
| 2nd Low | 423 |
| 3rd Low |
540.8 – 540.5 – 542.8 – 511.2 – 516.8 – 423 —
523.300000000 – 535.800000000 —
46.750163504018 – 58.909932958448 —
– —
540.8 – 1770552000
Trading Signals: CRYPTO – BCH – BCH/USDT – USDT – Bearish Engulfing – – –