BTC/USDT – 1H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 116812.760000000 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 118499.900000000 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Outside Down’ candle chart pattern is detected. The chart forms ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 123218.000000000 |
| 2nd High | 120998.710000000 |
| Next High | 118499.900000000 |
| Current Price | 117705.820000000 |
| Next Low | 116812.760000000 |
| 2nd Low | 115736.920000000 |
| 3rd Low | 107429.570000000 |
118499.900000000 – 120998.710000000 – 120063.840000000 – 116812.760000000 – 117453.570000000 – 115736.920000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Three Outside Down – Double top chart pattern