BNB/USDT – 4H – SELL

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 577.06 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the support line at 640.55 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Down’ candlestick pattern is found. The candles form ‘Three Outside Down’. 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 chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

640.55 – 634.8 – 631.86 – 588.640000000 – 577.06 – 596 —
598.570000000 – 629.800000000 —
35.269614011738 – 57.499069290843 —
588.640000000 – 1772265600 —
640.55 – 1772049600

Trading Signals: CRYPTO – BNB – BNB/USDT – USDT – Three Outside Down – – –