BTC/USDT – 1H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support line at 60000 is expected.
Caution: A possible change in the direction of resistance at 76971.52 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Shooting Star’ chart pattern is discovered. The chart forms ‘Shooting Star’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 84621.16 |
| 2nd High | 79360 |
| Next High | 76971.52 |
| Current Price | 70136.870000000 |
| Next Low | 60000 |
| 2nd Low | |
| 3rd Low |
76971.52 – 79360 – 84621.16 – 60000 – 72945.5 – 77644.09 —
70508.750000000 – 71690.070000000 —
61.33342402958 – 59.611619021748 —
– —
76971.52 – 1770174000
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Shooting Star – – –