ETH/USDT – 1H – SELLBesides a ‘Double bottom retreat down’ chart formation is discovered. The chart shows ‘Double bottom retreat down’. this is a bearish signal. The pair is likely to go down.
The pair Ethereum/Tether (ETH/USDT) goes from the ascending trendline downwards
A bearish trend down to the next support level at 2940.240000000 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 3020.310000000 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Belt Hold’ candle pattern is detected. The chart forms ‘Bearish Belt Hold’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 3040.150000000 |
| Next High | 3020.310000000 |
| Current Price | 3008.860000000 |
| Next Low | 2940.240000000 |
| 2nd Low | 2903.850000000 |
| 3rd Low | 2512.000000000 |
3020.310000000 – 2979.780000000 – 3040.150000000 – 2940.240000000 – 2903.850000000 – 2923.320000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Bearish Belt Hold – Double bottom retreat down