ETH/USDT – 1H – SELL

The pair Ethereum/Tether (ETH/USDT) jumps from the bullish trendline down.

The bearish trend down to the next support line at is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 3308.86 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 3004.32196 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 3308.86 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Three Black Crows’ chart pattern is existing. The candles form ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.

3308.86 – 3265.66 – 3167.22 – 3183.27 – 2958.91 – 2944.76 — 45.41163926881 – 42.06712495331 — 72.523144596184 – 48.795458032837 – 78.736013363881 – 70.623270193625

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Three Black Crows – Double bottom retreat down – –