BTC/USDT – 1H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) jumps from the bullish trendline downwards
A bearish trend downwards to the next support at 118207.470000000 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 124474.000000000 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. this is usually a bearish signal. The currency pair could go down.
Also there is a ‘Last Engulfing Bottom:’ candlestick pattern is discovered. The chart forms ‘Last Engulfing Bottom:’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 124474.000000000 |
| Current Price | 118257.250000000 |
| Next Low | 118207.470000000 |
| 2nd Low | 118050.110000000 |
| 3rd Low | 116359.890000000 |
124474.000000000 – 120324.430000000 – 122335.160000000 – 118920.920000000 – 118207.470000000 – 118050.110000000 — 30.784722862781 – 28.224454575123
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Last Engulfing Bottom: – Rising Wedge Chart Pattern – –