DOT/USDT – 1H – SELL

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

A descent downwards to the next support level at 3.828000000 is considered certain.

Caution: A possible counter-trend in the direction of the resistance line at 4.110000000 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 3.709 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 4.110000000 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Three Black Crows’ candlestick chart pattern is detected. The candles show ‘Three Black Crows’. this 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’ heading down is 82%.

4.110000000 – 3.448000000 – 3.390000000 – 3.828000000 – 3.323000000 – 3.308000000

Trading Signals: FOREX – DOT – DOT/USDT – USDT – Three Black Crows – Double top chart pattern