ETH/USDT – 1H – SELL

Next a ‘Double bottom retreat down’ chart formation is existing. The chart picture forms ‘Double bottom retreat down’. this is a bearish pattern signal. The currency pair is likely to fall.

The pair Ethereum/Tether (ETH/USDT) jumps from the ascending trendline downwards

A bearish movement down to the next support level at 2903.850000000 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance line at 2979.780000000 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Bearish Engulfing’ candle chart pattern is existing. The candles show ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

2979.780000000 – 3040.150000000 – 2590.570000000 – 2903.850000000 – 2923.320000000 – 2512.000000000

Trading Signals: FOREX – ETH – ETH/USDT – USDT – Bearish Engulfing – Double bottom retreat down