CFX/USDT – 30M – SELL

The pair Conflux/Tether (CFX/USDT) goes from the bullish trendline down.

The bearish trend down to the next support level at 0.0501 will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 0.0525 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.0498 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.0525 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Bearish Breakaway’ candle pattern is detected. The chart forms ‘Bearish Breakaway’. 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 success rate of a ‘Bearish Breakaway’ going down is 63% (Bull Market) & 89% (Bear Market).

0.0525 – 0.0548 – 0.0524 – 0.0507 – 0.0513 – 0.0501 —
0.050700000 – 0.050700000 —
25.243103136195 – 31.326270885822 —
– —
0.0525 – 1771756200

Trading Signals: CRYPTO – CFX – CFX/USDT – USDT – Bearish Breakaway – Rising Wedge Chart Pattern – –