BTC/USDT – 4H – SELLThe combination Bitcoin/Tether (BTC/USDT) jumps from the bullish trendline down.
A bearish trend downwards to the next support level at 107245.000000000 will persist.
Caution: A possible counter-trend in the direction of resistance at could occur.
Consider stop-loss settings accordingly.
Next a ‘On Neck’ candle chart pattern is discovered. The candles show ‘On Neck’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 119644.940000000 |
| Next Low | 107245.000000000 |
| 2nd Low | 106733.330000000 |
| 3rd Low | 106356.760000000 |
118869.980000000 – 110529.180000000 – 108272.450000000 – 107245.000000000 – 106733.330000000 – 106356.760000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – On Neck – Rising Wedge Chart Pattern