ETH/BTC – 1H – SELLThe currency pair Ethereum/Bitcoin (ETH/BTC) jumps from the bullish trendline down.
A bearish descent down to the next support level at 0.037200000 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.040130000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 0.037685 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.040130000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ chart pattern is discovered. The chart forms ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.041500000 |
| 2nd High | 0.041140000 |
| Next High | 0.040130000 |
| Current Price | 0.038630000 |
| Next Low | 0.037200000 |
| 2nd Low | 0.036610000 |
| 3rd Low | 0.035240000 |
Trading Signals: CRYPTO – ETH – ETH/BTC – BTC – Three Black Crows