BCH/USDT – 1H – SELLNext a ‘Rising Wedge Chart Pattern’ chart layout is found. The chart shows ‘Rising Wedge Chart Pattern’. which is a bearish chart scenario. The currency pair is likely to go down.
The currency pair Bitcoin Cash/Tether (BCH/USDT) jumps from the ascending trendline downwards
A descent down to the next support level at 551.5 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 581.5 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Last Engulfing Top’ candlestick pattern is detected. The candles form ‘Last Engulfing Top’. 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 chance of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 581.5 |
| Current Price | 555.400000000 |
| Next Low | 551.5 |
| 2nd Low | 493.8 |
| 3rd Low | 423 |
581.5 – 573.5 – 570 – 551.5 – 493.8 – 504.5 —
564.100000000 – 564.200000000 —
48.660332583019 – 49.749818333617 —
– —
581.5 – 1771272000
Trading Signals: CRYPTO – BCH – BCH/USDT – USDT – Last Engulfing Top – Rising Wedge Chart Pattern – –