BTC/USDT – 1H – SELLThe pair Bitcoin/Tether (BTC/USDT) jumps from the descending trendline down.
A continuation of the downtrend down to the next support level at 91530.450000000 will persist.
Caution: A possible trend reversal in the direction of resistance at 98522.760000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Current target is 95747.075 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 98522.760000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. 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 | 107793.070000000 |
| 2nd High | 99963.700000000 |
| Next High | 98522.760000000 |
| Current Price | 97731.080000000 |
| Next Low | 91530.450000000 |
| 2nd Low | 90500.000000000 |
| 3rd Low | 89376.900000000 |
Download BTC/USDT Signal Image
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing