BTC/USDT – 1H – SELL

In addition a ‘Rising Wedge Chart Pattern’ chart pattern is discovered. The chart picture forms ‘Rising Wedge Chart Pattern’. this is a bearish pattern signal. The currency pair is likely to go down.

The currency pair Bitcoin/Tether (BTC/USDT) jumps from the bearish trendline downwards

A continuation of the downward movement down to the next support at is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 70126.67 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative chart scenario. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 67622.335 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 70126.67 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Bearish Belt Hold’ chart pattern is detected. The candles form ‘Bearish Belt Hold’. this 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 likelyhood of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).

70126.67 – 69482.97 – 68410.52 – 67294.11 – 68143.22 – 65118 —
68245.340000000 – 68996.670000000 —
43.889335951716 – 51.889053339959 —
– —
70126.67 – 1771246800

Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Belt Hold – Rising Wedge Chart Pattern – –