BCH/USDT – 1H – SELLThe currency pair Bitcoin Cash/Tether (BCH/USDT) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 538.7 will persist.
Caution: A possible trend reversal in the direction of resistance at 564.5 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 570.8 |
| 2nd High | 564.9 |
| Next High | 564.5 |
| Current Price | 559.400000000 |
| Next Low | 538.7 |
| 2nd Low | 493.8 |
| 3rd Low | 423 |
564.5 – 564.9 – 570.8 – 538.7 – 550.6 – 549.5 —
553.900000000 – 566.200000000 —
41.264116320678 – 53.939222216302 —
– —
564.5 – 1771567200
Trading Signals: CRYPTO – BCH – BCH/USDT – USDT – Bearish Engulfing – – –