ETH/USDT – 1H – SELL

The pair Ethereum/Tether (ETH/USDT) jumps from the descending trendline down.

A continuation of the downward movement down to the next support line at 4207.390000000 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 4956.780000000 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 4508.39 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 4956.780000000 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Falling Window’ candlestick pattern is discovered. The candles form ‘Falling Window’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Falling Window’ going down is 67% (Bull Market) and 73% (Bear Market).

4956.780000000 – 4817.400000000 – 4887.590000000 – 4207.390000000 – 4204.200000000 – 4106.370000000 — 46.858747767482 – 44.057433004398

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Falling Window – Rising Wedge Chart Pattern – –