DOT/USDT – 4H – SELLThe combination Polkadot/Tether (DOT/USDT) jumps from the bullish trendline downwards
The bearish trend down to the next support line at 3.800000000 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 4.624000000 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Last Engulfing Top’ candlestick chart pattern is discovered. The chart forms ‘Last Engulfing Top’. 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 success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 5.120000000 |
| 2nd High | 4.682000000 |
| Next High | 4.624000000 |
| Current Price | 4.381000000 |
| Next Low | 3.800000000 |
| 2nd Low | 3.323000000 |
| 3rd Low | 3.308000000 |
4.624000000 – 4.196000000 – 4.110000000 – 3.800000000 – 3.323000000 – 3.308000000
Trading Signals: FOREX – DOT – DOT/USDT – USDT – Last Engulfing Top –