BTC/USDT – 30M – SELLThe currency pair Bitcoin/Tether (BTC/USDT) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support at 87457.530000000 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 89228 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘%K crosses below %D’ indicator layout is discovered. The indicator is ‘%K crosses below %D’. which could be a negative signal. The pair is likely to go down.
Moreover a ‘Bearish Engulfing’ candle chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 93160 |
| 2nd High | 92541.92 |
| Next High | 89228 |
| Current Price | 87699.780000000 |
| Next Low | 87457.530000000 |
| 2nd Low | 85272 |
| 3rd Low | 80600 |
89228 – 88127.64 – 86860 – 87457.530000000 – 85272 – 85946.65 — 50.978228053142 – 45.821138238402 — 42.398953302867 – 27.769977769978 – 41.902413420387 – 36.051865190709
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – – –