DOT/USDT – 30M – SELLThe currency pair Polkadot/Tether (DOT/USDT) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 3.716000000 is expected.
Caution: A possible change in the direction of the resistance level at 3.817000000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 3.709 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 3.817000000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Inside Down’ candlestick pattern is discovered. The candles show ‘Three Inside Down’. this 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 ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3.859000000 |
| 2nd High | 3.849000000 |
| Next High | 3.817000000 |
| Current Price | 3.782000000 |
| Next Low | 3.716000000 |
| 2nd Low | 3.709000000 |
| 3rd Low | 3.634000000 |
3.817000000 – 3.849000000 – 3.859000000 – 3.716000000 – 3.752000000 – 3.709000000
Trading Signals: FOREX – DOT – DOT/USDT – USDT – Three Inside Down