BTC/USDT – 1H – BUYThe combination Bitcoin/Tether (BTC/USDT) moves from the ascending trendline up.
A continuation of the bullish trend up to the next resistance at 91790.000000000 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 86668.210000000 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 91790 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance line at 91790.000000000 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 91790.000000000 |
| Current Price | 89375.990000000 |
| Next Low | 86668.210000000 |
| 2nd Low | 85229.000000000 |
| 3rd Low | 78473.130000000 |