LINK/USDT – 1H – SELLThe combination Chainlink/Tether (LINK/USDT) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support at 8.993000000 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 9.301 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. 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 | 9.484 |
| 2nd High | 9.315 |
| Next High | 9.301 |
| Current Price | 9.118000000 |
| Next Low | 8.993000000 |
| 2nd Low | 8.795 |
| 3rd Low | 8.762 |
9.301 – 9.315 – 9.146 – 8.993000000 – 8.795 – 8.762 —
9.063000000 – 9.185000000 —
33.98458797037 – 51.96408323778 —
8.993000000 – 1780254000 —
9.301 – 1780192800
Trading Signals: CRYPTO – LINK – LINK/USDT – USDT – Bearish Engulfing – – –