BTC/USDT – 1H – SELLAdditionally a ‘Double bottom retreat down’ chart formation is detected. The chart forms ‘Double bottom retreat down’. which is a negative signal. The currency pair is likely to fall.
The combination Bitcoin/Tether (BTC/USDT) moves from the bullish trendline down.
A bearish descent down to the next support at 114720.810000000 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 117286.730000000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Belt Hold’ candlestick pattern is detected. The chart shows ‘Bearish Belt Hold’. which is a negative 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 Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 118575.000000000 |
| 2nd High | 117429.050000000 |
| Next High | 117286.730000000 |
| Current Price | 117273.360000000 |
| Next Low | 114720.810000000 |
| 2nd Low | 114384.000000000 |
| 3rd Low | 113430.000000000 |
117286.730000000 – 116757.990000000 – 116165.190000000 – 114720.810000000 – 114737.110000000 – 114384.000000000 — 68.827814697144 – 62.413871167708
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Belt Hold – Double bottom retreat down – –