SOL/BTC – 1H – SELLThe currency pair Solana/Bitcoin (SOL/BTC) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 0.001992100 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.002035900 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a bearish signal. The 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 | 0.002135300 |
| 2nd High | 0.002090600 |
| Next High | 0.002035900 |
| Current Price | 0.001981600 |
| Next Low | 0.001992100 |
| 2nd Low | 0.001939900 |
| 3rd Low | 0.001872200 |
Trading Signals: CRYPTO – SOL – SOL/BTC – BTC – Bearish Engulfing