DOT/USDT – 1H – SELL

The pair Polkadot/Tether (DOT/USDT) moves from the bearish trendline downwards

A continuation of the bearish trend down to the next support at 1.473 will persist.

Caution: A possible change in the direction of the resistance level at 1.546 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which could be a negative signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend will persist. Current target is 1.520106 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support zone at 1.546 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

1.546 – 1.533 – 1.52 – 1.473 – 1.43 – 1.425 —
1.510000000 – 1.540000000 —
55.058643553092 – 63.22554211528 —
– —
1.546 – 1773154800

Trading Signals: CRYPTO – DOT – DOT/USDT – USDT – Bearish Engulfing – – –