BTC/USDT – 1H – SELL

Besides a ‘MACD crosses below signal’ indicator layout is detected. The indicator is ‘MACD crosses below signal’. which is often a bearish chart scenario. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 66300.04612 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support zone at 69241.5 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Bearish Engulfing’ chart pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

69241.5 – 70126.67 – 69482.97 – 66621.06 – 67294.11 – 68143.22 —
67900.000000000 – 67805.080000000 —
50.698970498629 – 42.702015251619 —
– —
69241.5 – 1771293600

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Double top chart pattern – –