The currency pair Bitcoin/Tether (BTC/USDT) jumps from the ascending trendline downwards
A descent downwards to the next support at 107189.860000000 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 108528.500000000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a negative signal. The pair is likely to go down.
Furthermore a ‘Bearish Belt Hold’ chart pattern is found. The candles form ‘Bearish Belt Hold’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 110392.010000000 |
2nd High | 108952.380000000 |
Next High | 108528.500000000 |
Current Price | 107359.790000000 |
Next Low | 107189.860000000 |
2nd Low | 107154.620000000 |
3rd Low | 107084.150000000 |
108528.500000000 – 107500.000000000 – 107577.750000000 – 107189.860000000 – 107154.620000000 – 107084.150000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Bearish Belt Hold – Rising Wedge Chart Pattern