ETH/BTC – 30M – SELL

The currency pair Ethereum/Bitcoin (ETH/BTC) moves from the descending trendline downwards

A continuation of the downward movement down to the next support level at 0.023700000 will persist.

Caution: A possible change in the direction of resistance at 0.024310000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.02384868 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support line at 0.024310000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Inside Down’ candle pattern is found. The chart forms ‘Three Inside Down’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).

0.024310000 – 0.024330000 – 0.024070000 – 0.023700000 – 0.023840000 – 0.023980000

Trading Signals: FOREX – ETH – ETH/BTC – BTC – Three Inside Down