BTC/USDT – 30M – SELLThe combination Bitcoin/Tether (BTC/USDT) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support at 85946.65 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 88127.64 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘%K fall below 80’ indicator signal is existing. The indicator shows ‘%K fall below 80’. which could be a negative signal. The currency pair could go down.
Additionally a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.
Additionally a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 92541.92 |
| 2nd High | 88250 |
| Next High | 88127.64 |
| Current Price | 85825.310000000 |
| Next Low | 85946.65 |
| 2nd Low | 85420 |
| 3rd Low | 80600 |
88127.64 – 86860 – 85572.82 – 85946.65 – 85420 – 80600 — 37.374416856796 – 36.247985324771 — 9.7419750245983 – 0.032395484069514 – 17.546800035893 – 8.4638121936235
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – – –