BTC/USDT – 1H – SELL

The currency pair Bitcoin/Tether (BTC/USDT) jumps from the descending trendline down.

A continuation of the downtrend downwards to the next support line at 88578.36 will continue.

Caution: A possible trend reversal in the direction of the resistance level at 91224.99 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘%K crosses below %D’ indicator signal is existing. The indicator is ‘%K crosses below %D’. which could be a negative chart scenario. The currency pair is likely to fall.

Next a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

91224.99 – 90088.94 – 90340 – 88578.36 – 88515.37 – 87263.53 —
89595.410000000 – 89395.230000000 —
47.169908247894 – 43.599918391637 —
– —
91224.99000 – 1769187600

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – – –