ETH/BTC – 1H – SELLThe combination Ethereum/Bitcoin (ETH/BTC) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support line at is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.023370000 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart signal. The currency pair is likely to fall.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 0.0228103 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support level at 0.023370000 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Down’ candlestick chart pattern is found. The chart shows ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.023950000 |
| 2nd High | 0.023700000 |
| Next High | 0.023370000 |
| Current Price | 0.023170000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.023370000 – 0.023700000 – 0.023950000 – 0.023050000 – 0.023500000 – 0.022770000
Trading Signals: FOREX – ETH – ETH/BTC – BTC – Three Outside Down –