BTC/USDT – 30M – SELLThe pair Bitcoin/Tether (BTC/USDT) moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 102664.310000000 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 108450.160000000 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick pattern is existing. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 110400.000000000 |
| 2nd High | 110392.010000000 |
| Next High | 108450.160000000 |
| Current Price | 104739.450000000 |
| Next Low | 102664.310000000 |
| 2nd Low | 102126.160000000 |
| 3rd Low | 102000.000000000 |
108450.160000000 – 110392.010000000 – 110400.000000000 – 102664.310000000 – 106600.000000000 – 107320.000000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Bearish Engulfing