DOT/USDT – 1H – SELLThe currency pair Polkadot/Tether (DOT/USDT) jumps from the ascending trendline down.
A bearish descent downwards to the next support at is likely expected.
Caution: A possible change in the direction of the resistance level at 2.343 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair is likely to fall.
Also there is a ‘Three Outside Down’ candlestick pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2.4 |
| 2nd High | 2.393 |
| Next High | 2.343 |
| Current Price | 2.165000000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
2.343 – 2.153 – 2.12 – 2.157 – 2.022 – 2.084 — 45.041601979224 – 38.362556115355 — 83.876232690788 – 56.284575473319 – 89.541622934198 – 78.110504199813
Trading Signals: CRYPTO – DOT – DOT/USDT – USDT – Three Outside Down – Double bottom retreat down – –