ETH/USDT – 4H – SELLThe combination Ethereum/Tether (ETH/USDT) jumps from the ascending trendline downwards
A descent downwards to the next support at 2932.460000000 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 3673.840000000 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Bearish Belt Hold’ candle chart pattern is found. The candles form ‘Bearish Belt Hold’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 3673.840000000 |
| Current Price | 3736.740000000 |
| Next Low | 2932.460000000 |
| 2nd Low | 2474.240000000 |
| 3rd Low | 2373.000000000 |
3673.840000000 – 3040.150000000 – 2635.500000000 – 2932.460000000 – 2474.240000000 – 2373.000000000
Trading Signals: FOREX – ETH – ETH/USDT – USDT – Bearish Belt Hold – Rising Wedge Chart Pattern