SOL/BTC – 30M – SELLThe combination Solana/Bitcoin (SOL/BTC) jumps from the ascending trendline down.
A bearish descent down to the next support level at 0.002489900 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.002545500 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 0.002487 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.002545500 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The 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 | 0.002646300 |
| 2nd High | 0.002599900 |
| Next High | 0.002545500 |
| Current Price | 0.002510100 |
| Next Low | 0.002489900 |
| 2nd Low | 0.002487000 |
| 3rd Low | 0.002449300 |
Trading Signals: CRYPTO – SOL – SOL/BTC – BTC – Bearish Engulfing