SOL/BTC – 1H – SELL

The currency pair Solana/Bitcoin (SOL/BTC) jumps from the descending trendline down.

A continuation of the bearish trend downwards to the next support line at 0.00121 is expected.

Caution: A possible trend reversal in the direction of the resistance line at 0.001244500 is also possible.
Consider stop-loss settings accordingly.

Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart signal. The pair is likely to go down.

Moreover a ‘MACD crosses below signal’ indicator signal is found. The indicator shows ‘MACD crosses below signal’. which could be a negative chart signal. The pair is likely to go down.

Moreover a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 0.00121856 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 0.001244500 is also possible.
Consider stop-loss settings accordingly.

Moreover a ‘Three Black Crows’ candle pattern is existing. The candles form ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.

0.001244500 – 0.00124 – 0.00124 – 0.00121 – 0.00122 – 0.00122 —
0.001244500 – 0.001235500 —
61.650077276003 – 50.589851730936 —
0.001244500 – 1773252000 —
– 1773252000

Trading Signals: CRYPTO – SOL – SOL/BTC – BTC – Three Black Crows – – –