BTC/USDT – 30M – SELL

The pair Bitcoin/Tether (BTC/USDT) goes from the ascending trendline down.

A descending movement downwards to the next support at 116467.020000000 is expected.

Caution: A possible change in the direction of the resistance zone at 119676.730000000 could happen.
Consider stop-loss settings accordingly.

Also there is a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 118071.875 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 119676.730000000 could happen.
Consider stop-loss settings accordingly.

Also there is a ‘Three Outside Down’ candlestick chart pattern is existing. The chart shows ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

119676.730000000 – 118856.800000000 – 118499.900000000 – 116467.020000000 – 117723.230000000 – 117277.340000000

Trading Signals: FOREX – BTC – BTC/USDT – USDT – Three Outside Down –