ETH/USDT – 1H – SELL

Next a ‘Double top chart pattern’ chart formation is detected. The formation shows ‘Double top chart pattern’. this is a bearish chart scenario. The pair is likely to go down.

The pair Ethereum/Tether (ETH/USDT) moves from the bullish trendline downwards

A bearish trend downwards to the next support level at 3616.540000000 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 3764.200000000 should be noted.
Consider stop-loss settings accordingly.

Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish signal. The pair is likely to go down.

Next a ‘RSI fall below 30’ indicator signal is detected. The indicator shows ‘RSI fall below 30’. which is often a bearish signal. The pair is likely to go down.

Next a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 3559.41788 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 3764.200000000 should be noted.
Consider stop-loss settings accordingly.

Next a ‘Three Outside Down’ candle pattern is detected. The chart forms ‘Three Outside Down’. 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 probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

3764.200000000 – 3860.000000000 – 3824.560000000 – 3616.540000000 – 3681.600000000 – 3526.440000000

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Three Outside Down – Double top chart pattern –