BTC/USDT – 4H – SELL

The combination Bitcoin/Tether (BTC/USDT) moves from the bullish trendline down.

A descent down to the next support at 102664.310000000 will persist.

Caution: A possible counter-trend in the direction of resistance at 110530.170000000 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which is often a bearish signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 104862.81284 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 110530.170000000 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Three Outside Down’ candlestick pattern is discovered. The chart forms ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to fall. 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).

110530.170000000 – 106794.670000000 – 110718.000000000 – 102664.310000000 – 104179.000000000 – 103659.880000000

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