BTC/USDT – 1H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support level at 116467.020000000 will persist.
Caution: A possible counter-trend in the direction of resistance at 119676.730000000 should always be considered.
Consider stop-loss settings accordingly.
And also a ‘Last Engulfing Bottom:’ candlestick pattern is found. The candles show ‘Last Engulfing Bottom:’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 123218.000000000 |
| 2nd High | 120998.710000000 |
| Next High | 119676.730000000 |
| Current Price | 117162.280000000 |
| Next Low | 116467.020000000 |
| 2nd Low | 115736.920000000 |
| 3rd Low | 107429.570000000 |
119676.730000000 – 118856.800000000 – 118499.900000000 – 116467.020000000 – 117277.340000000 – 116812.760000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Last Engulfing Bottom: – Double bottom retreat down