The combination BOOK OF MEME/Tether (BOME/USDT) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support level at 0.001561000 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.001715000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which could be a negative chart signal. The currency pair is likely to fall.
Then a ‘Three Outside Down’ candlestick chart pattern is found. The candles form ‘Three Outside Down’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.002074000 |
2nd High | 0.002063000 |
Next High | 0.001715000 |
Current Price | 0.001538000 |
Next Low | 0.001561000 |
2nd Low | 0.001529000 |
3rd Low | 0.001329000 |
0.001715000 – 0.001633000 – 0.001665000 – 0.001561000 – 0.001572000 – 0.001577000
Trading Signals: FOREX – BOME – BOME/USDT – USDT – Three Outside Down