BTC/USDT – 4H – SELL

Next a ‘Double top chart pattern’ chart layout is existing. The formation shows ‘Double top chart pattern’. which is a negative chart scenario. The currency pair is likely to go down.

The combination Bitcoin/Tether (BTC/USDT) jumps from the ascending trendline downwards

A bearish descent down to the next support at 114723.160000000 will continue.

Caution: A possible change in the direction of the resistance line at 119800.000000000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

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

Next a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. this is usually a bearish signal. The currency pair could go down.

Next a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

119800.000000000 – 120247.800000000 – 120998.710000000 – 114723.160000000 – 116128.000000000 – 116812.760000000 — 35.6556911884 – 28.725688691151

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Double top chart pattern –