BTC/USDT – 1H – SELLThe pair Bitcoin/Tether (BTC/USDT) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 104179.000000000 is expected.
Caution: A possible counter-trend in the direction of resistance at 106000.000000000 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. 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 likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 108484.610000000 |
| 2nd High | 106794.670000000 |
| Next High | 106000.000000000 |
| Current Price | 105350.680000000 |
| Next Low | 104179.000000000 |
| 2nd Low | 103659.880000000 |
| 3rd Low | 103068.550000000 |
106000.000000000 – 106794.670000000 – 106500.000000000 – 104179.000000000 – 105132.270000000 – 104872.500000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Bearish Engulfing