DOT/USDT – 30M – SELL

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

A bearish trend downwards to the next support level at 5.631000000 is expected.

Caution: A possible change in the direction of the resistance line at 5.983000000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 5.7255 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support zone at 5.983000000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

Download DOT/USDT Signal Image

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