ETH/USDT – 30M – SELL

The currency pair Ethereum/Tether (ETH/USDT) moves from the ascending trendline down.

A bearish descent downwards to the next support line at 3716.040000000 is certain.

Caution: A possible counter-trend in the direction of the resistance zone at 3886.440000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 3744 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 3886.440000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Matching Low’ candlestick chart pattern is detected. The chart shows ‘Matching Low’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

3886.440000000 – 3793.000000000 – 3782.830000000 – 3716.040000000 – 3731.000000000 – 3709.390000000 — 60.530043766837 – 60.300720560422

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Matching Low – –