BTC/USDT – 4H – SELLThe currency pair Bitcoin/Tether (BTC/USDT) moves from the descending trendline downwards
A continuation of the downward movement down to the next support level at 65618.49 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 74050 could occur.
Consider stop-loss settings accordingly.
And also a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles form ‘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’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 91224.99 |
| 2nd High | 90600 |
| Next High | 74050 |
| Current Price | 70191.860000000 |
| Next Low | 65618.49 |
| 2nd Low | 63030 |
| 3rd Low | 62510.28 |
74050 – 70096 – 69988.83 – 65618.49 – 63030 – 62510.28 —
71300.000000000 – 71091.180000000 —
63.337922741674 – 57.157645004881 —
– —
74050 – 1772640000
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern – –