SOL/BTC – 30M – SELL

The currency pair Solana/Bitcoin (SOL/BTC) jumps from the descending trendline down.

A continuation of the bearish trend down to the next support at 0.001349000 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.001392000 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart signal. The currency pair could go down.

Moreover a ‘Support Level’ indicator signal is found. The indicator is ‘Support 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 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 0.0013488 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.001392000 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘On Neck’ candlestick pattern is discovered. The chart forms ‘On Neck’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

0.001379400 – 0.001392000 – 0.001423500 – 0.001349000 – 0.001348800 – 0.001360400

Trading Signals: FOREX – SOL – SOL/BTC – BTC – On Neck –