BTC/USDT – 1H – SELLThe combination Bitcoin/Tether (BTC/USDT) moves from the descending trendline down.
A continuation of the downtrend down to the next support level at 80600 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 88127.64 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles form ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 93836.01 |
| 2nd High | 93160 |
| Next High | 88127.64 |
| Current Price | 86003.000000000 |
| Next Low | 80600 |
| 2nd Low | 78464.36 |
| 3rd Low | 74620 |
88127.64 – 93160 – 92384.61 – 80600 – 88608 – 90025.06 — 45.583850084394 – 43.317526096611 — 6.2542286874154 – 8.5326563404874 – 6.21191367103 – 6.4452429486184
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern – –