BTC/USDT – 30M – SELLThe pair Bitcoin/Tether (BTC/USDT) jumps from the bullish trendline down.
A bearish descent down to the next support at 70481.7 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 73913.74 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Last Engulfing Bottom:’ candlestick pattern is existing. The candles show ‘Last Engulfing Bottom:’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 76971.52 |
| 2nd High | 74050 |
| Next High | 73913.74 |
| Current Price | 70585.630000000 |
| Next Low | 70481.7 |
| 2nd Low | 69355.34 |
| 3rd Low | 69205.91 |
73913.74 – 72000 – 70800 – 70481.7 – 69355.34 – 69205.91 —
71216.280000000 – 70743.880000000 —
51.11364265208 – 39.064499904664 —
– —
73913.74 – 1773412200
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Last Engulfing Bottom: – – –