BTC/USDT – 1H – SELL

Besides a ‘Double bottom chart pattern’ chart layout is found. The formation shows ‘Double bottom chart pattern’. which is a bullish pattern signal. The currency pair is likely to rise.

The pair Bitcoin/Tether (BTC/USDT) moves from the descending trendline downwards

A continuation of the downtrend down to the next support at 104964.140000000 is expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 106794.670000000 could occur.
Consider stop-loss settings accordingly.

Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The currency pair could go down.

Besides a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 105486.835 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 106794.670000000 could occur.
Consider stop-loss settings accordingly.

Besides a ‘Three Outside Down’ candle pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

105900.000000000 – 106000.000000000 – 106794.670000000 – 104964.140000000 – 104179.000000000 – 105132.270000000

Trading Signals: FOREX – BTC – BTC/USDT – USDT – Three Outside Down