ETH/USDT – 1H – BUYThe pair Ethereum/Tether (ETH/USDT) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance at 2987 is expected.
Caution: A possible change in the direction of the support line at 2857.32 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Two-Candle Shooting Star’ candle pattern is detected. The candles show ‘Two-Candle Shooting Star’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two-Candle Shooting Star’ going down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3223.38 |
| 2nd High | 3169.95 |
| Next High | 2987 |
| Current Price | 2946.380000000 |
| Next Low | 2857.32 |
| 2nd Low | 2785.04 |
| 3rd Low | 2763 |
2987 – 2885.75 – 2858.16 – 2857.32 – 2785.04 – 2763 — 54.266662963671 – 54.693433981058 — 22.065749965107 – 25.639751584198 – 39.141270460884 – 27.408544227445
Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Two-Candle Shooting Star – Double bottom retreat down – –