BTC/USDT – 30M – SELLThe currency pair Bitcoin/Tether (BTC/USDT) jumps from the descending trendline down.
A continuation of the downtrend down to the next support line at 75719.9 will persist.
Caution: A possible change in the direction of the resistance line at 79220.72 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 84621.16 |
| 2nd High | 79424 |
| Next High | 79220.72 |
| Current Price | 76800.900000000 |
| Next Low | 75719.9 |
| 2nd Low | 74620 |
| 3rd Low | 74508 |
79220.72 – 79424 – 84621.16 – 77967.69 – 75719.9 – 82560.75 —
78188.000000000 – 77779.630000000 —
47.241853327698 – 43.840051546557 —
– —
79220.72000 – 1769940000
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – – –