BTC/USDT – 4H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support at 116812.760000000 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 120998.710000000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. this is usually a bearish chart signal. The currency pair could go down.
There is also a ‘Bearish Belt Hold’ chart pattern is existing. The chart shows ‘Bearish Belt Hold’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 123218.000000000 |
| Next High | 120998.710000000 |
| Current Price | 117162.280000000 |
| Next Low | 116812.760000000 |
| 2nd Low | 115736.920000000 |
| 3rd Low | 107245.000000000 |
120998.710000000 – 123218.000000000 – 118869.980000000 – 116812.760000000 – 115736.920000000 – 107245.000000000
Trading Signals: FOREX – BTC – BTC/USDT – USDT – Bearish Belt Hold – Double bottom retreat down