BNB/USDT – 1H – SELL

The currency pair Binance Coin/Tether (BNB/USDT) jumps from the bullish trendline downwards

A bearish descent down to the next support line at 615.09 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 639.81 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 625.0434 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 639.81 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candlestick pattern is found. The chart shows ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

621.81 – 622.84 – 621.29 – 615.09 – 613.79 – 610.26 —
622.000000000 – 634.630000000 —
63.595029552904 – 80.059542190087 —
– —
621.81 – 1777755600

Trading Signals: CRYPTO – BNB – BNB/USDT – USDT – Three Outside Down – – –