DOT/USDT – 1H – SELL

The currency pair Polkadot/Tether (DOT/USDT) jumps from the ascending trendline down.

A descent downwards to the next support level at 3.735000000 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 3.991000000 should be noted.
Consider stop-loss settings accordingly.

Besides a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 3.716 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 3.991000000 should be noted.
Consider stop-loss settings accordingly.

Besides a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles show ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.

3.991000000 – 3.834000000 – 3.859000000 – 3.735000000 – 3.754000000 – 3.716000000

Trading Signals: FOREX – DOT – DOT/USDT – USDT – Three Black Crows