SOL/BTC – 30M – SELLThe combination Solana/Bitcoin (SOL/BTC) moves from the ascending trendline downwards
A descending movement down to the next support at 0.002356800 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 0.002432000 could occur.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 0.00238805 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 0.002432000 could occur.
Consider stop-loss settings accordingly.
Then a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The currency 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.002459000 |
| 2nd High | 0.002441900 |
| Next High | 0.002432000 |
| Current Price | 0.002390900 |
| Next Low | 0.002356800 |
| 2nd Low | 0.002334200 |
| 3rd Low | 0.002310300 |
Trading Signals: CRYPTO – SOL – SOL/BTC – BTC – Bearish Engulfing