DOT/USDT – 1H – SELLThe currency pair Polkadot/Tether (DOT/USDT) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support at 1.834 is certain.
Caution: A possible change in the direction of the resistance level at 1.981 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which could be a negative signal. The currency pair is likely to fall.
Furthermore a ‘Last Engulfing Top’ candle chart pattern is detected. The candles show ‘Last Engulfing Top’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2 |
| 2nd High | 1.984 |
| Next High | 1.981 |
| Current Price | 1.836000000 |
| Next Low | 1.834 |
| 2nd Low | 1.762 |
| 3rd Low | 1.684 |
1.981 – 1.984 – 2 – 1.843 – 1.897 – 1.905 —
1.872000000 – 1.855000000 —
39.307151113559 – 43.42169476825 —
– —
1.98100 – 1769187600
Trading Signals: CRYPTO – DOT – DOT/USDT – USDT – Last Engulfing Top – Double top chart pattern – –