BTC/USDT – 1H – SELL

The currency pair Bitcoin/Tether (BTC/USDT) moves from the descending trendline downwards

A continuation of the downtrend down to the next support level at 115796.230000000 is considered certain.

Caution: A possible change in the direction of resistance at 118792.000000000 is within the realm of possibility.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 117261.58 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 118792.000000000 is within the realm of possibility.
Consider stop-loss settings accordingly.

And also a ‘Three Outside Down’ candlestick pattern is detected. The chart shows ‘Three Outside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

118792.000000000 – 119273.360000000 – 119800.000000000 – 115796.230000000 – 116950.750000000 – 117427.500000000 — 55.926205679341 – 53.532549686204

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Three Outside Down – –