BCH/USDT – 30M – SELLThe combination Bitcoin Cash/Tether (BCH/USDT) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 504.5 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 524.4 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 532.2 |
| 2nd High | 528 |
| Next High | 524.4 |
| Current Price | 514.000000000 |
| Next Low | 504.5 |
| 2nd Low | 423 |
| 3rd Low |
524.4 – 523.2 – 528 – 504.5 – 507.6 – 508.2 —
510.500000000 – 514.300000000 —
40.552999857402 – 53.259843345704 —
– —
524.4 – 1770845400
Trading Signals: CRYPTO – BCH – BCH/USDT – USDT – Bearish Engulfing – – –