SOL/BTC – 4H – SELLThe currency pair Solana/Bitcoin (SOL/BTC) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.001347600 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.001423500 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Last Engulfing Top’ candle chart pattern is existing. The candles show ‘Last Engulfing Top’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.001509500 |
| 2nd High | 0.001487300 |
| Next High | 0.001423500 |
| Current Price | 0.001454100 |
| Next Low | 0.001347600 |
| 2nd Low | 0.001288500 |
| 3rd Low | 0.001256200 |
0.001423500 – 0.001487300 – 0.001383300 – 0.001347600 – 0.001348800 – 0.001350600
Trading Signals: FOREX – SOL – SOL/BTC – BTC – Last Engulfing Top – Triple bottom chart pattern