ETH/BTC – 30M – SELL

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

A continuation of the downtrend down to the next support at 0.024690000 is expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.025280000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.025 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.025280000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Two Crows’ candlestick pattern is detected. The chart forms ‘Two Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

0.025280000 – 0.025310000 – 0.025150000 – 0.024690000 – 0.024810000 – 0.025010000

Trading Signals: FOREX – ETH – ETH/BTC – BTC – Two Crows – Double bottom retreat down