ETH/USDT – 1H – SELLThe combination Ethereum/Tether (ETH/USDT) moves from the descending trendline down.
A continuation of the downward movement down to the next support line at 2623.57 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 2806.84 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 2623.57 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support level at 2806.84 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Outside Down’ candle pattern is detected. The candles show ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3223.38 |
| 2nd High | 3169.95 |
| Next High | 2806.84 |
| Current Price | 2752.270000000 |
| Next Low | 2623.57 |
| 2nd Low | 2512 |
| 3rd Low | 2474.24 |
2806.84 – 3169.95 – 3223.38 – 2623.57 – 2946.56 – 3004 — 45.552180566225 – 45.477377137195 — 92.347845098521 – 84.493454674647 – 94.41629016777 – 92.280433257723
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Three Outside Down – – –