BTC/USDT – 4H – SELLMoreover a ‘Rising Wedge Chart Pattern’ chart layout is detected. The formation shows ‘Rising Wedge Chart Pattern’. which is a bearish signal. The currency pair is likely to fall.
The currency pair Bitcoin/Tether (BTC/USDT) moves from the ascending trendline downwards
A bearish trend downwards to the next support line at 86806.5 is certain.
Caution: A possible change in the direction of resistance at 94789.08 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Last Engulfing Bottom:’ candlestick chart pattern is found. The candles show ‘Last Engulfing Bottom:’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 111250.01 |
| 2nd High | 107500 |
| Next High | 94789.08 |
| Current Price | 90332.150000000 |
| Next Low | 86806.5 |
| 2nd Low | 86420 |
| 3rd Low | 84450.01 |
94789.08 – 90406.08 – 89049.86 – 86806.5 – 86420 – 87600.04 — 48.534873605263 – 42.324502805309 — 44.432263457487 – 46.160312143137 – 35.268015642104 – 39.549490090195
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Last Engulfing Bottom: – Rising Wedge Chart Pattern – –