BTC/USDT – 30M – SELLThe pair Bitcoin/Tether (BTC/USDT) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support at 115127.270000000 is expected.
Caution: A possible change in the direction of the resistance line at 116166.710000000 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 117429.050000000 |
| 2nd High | 116665.630000000 |
| Next High | 116166.710000000 |
| Current Price | 115852.950000000 |
| Next Low | 115127.270000000 |
| 2nd Low | 114740.990000000 |
| 3rd Low | 113430.000000000 |
116166.710000000 – 116665.630000000 – 116331.810000000 – 115127.270000000 – 115576.260000000 – 114740.990000000 — 56.666694130376 – 49.265445037703
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – – –