BTC/USDT – 4H – SELLThe combination Bitcoin/Tether (BTC/USDT) jumps from the bullish trendline down.
The bearish trend down to the next support at 103659.880000000 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 106794.670000000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish 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’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 111980.000000000 |
| 2nd High | 110718.000000000 |
| Next High | 106794.670000000 |
| Current Price | 104532.020000000 |
| Next Low | 103659.880000000 |
| 2nd Low | 103068.550000000 |
| 3rd Low | 102000.000000000 |
106794.670000000 – 110718.000000000 – 111980.000000000 – 103659.880000000 – 103068.550000000 – 106800.000000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Bearish Engulfing