BTC/USDT – 1H – BUYThe pair Bitcoin/Tether (BTC/USDT) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance line at 122335.160000000 is expected.
Caution: A possible counter-trend in the direction of the support level at 118207.470000000 is also possible.
Consider stop-loss settings accordingly.
Next a ‘RSI fall below 70’ indicator layout is discovered. The indicator shows ‘RSI fall below 70’. which could be a negative signal. The currency pair could go down.
Next a ‘StochRSI fall below 80’ indicator layout is discovered. The indicator shows ‘StochRSI fall below 80’. which could be a negative signal. The currency pair could go down.
Next a ‘Shooting Star’ candle pattern is detected. The candles form ‘Shooting Star’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 123218.000000000 |
| Next High | 122335.160000000 |
| Current Price | 120134.080000000 |
| Next Low | 118207.470000000 |
| 2nd Low | 118050.110000000 |
| 3rd Low | 116359.890000000 |
122335.160000000 – 117944.050000000 – 115716.000000000 – 118207.470000000 – 118050.110000000 – 116359.890000000 — 58.419287913602 – 58.773991793302
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Shooting Star – – –