ETH/USDT – 1H – SELL

The currency pair Ethereum/Tether (ETH/USDT) goes from the bullish trendline down.

A bearish trend downwards to the next support at 2309.24 is considered certain.

Caution: A possible counter-trend in the direction of resistance at 2404.37 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a negative signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 2317.07476 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 2404.37 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Two Crows’ chart pattern is found. The chart forms ‘Two Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

2343.6 – 2325.28 – 2275.13 – 2309.24 – 2297.59 – 2220.36 —
2387.990000000 – 2371.090000000 —
70.615063728037 – 60.902069766777 —
– —
2343.6 – 1777755600

Trading Signals: CRYPTO – ETH – ETH/USDT – USDT – Two Crows – Rising Wedge Chart Pattern – –