ETH/USDT – 1H – SELL

The combination Ethereum/Tether (ETH/USDT) goes from the bullish trendline downwards

A bearish movement down to the next support line at 3709.390000000 is considered certain.

Caution: A possible trend reversal in the direction of the resistance line at 3782.830000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 3716.75472 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 3782.830000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘On Neck’ candlestick chart pattern is discovered. The chart shows ‘On Neck’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

3782.830000000 – 3771.000000000 – 3665.310000000 – 3709.390000000 – 3599.440000000 – 3502.850000000 — 47.444442745841 – 45.700287360111

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – On Neck – Rising Wedge Chart Pattern –