BCH/USDT – 30M – SELLThe currency pair Bitcoin Cash/Tether (BCH/USDT) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 201.6 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 206.9 could occur.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. 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 likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 211 |
| 2nd High | 209.8 |
| Next High | 206.9 |
| Current Price | 205.100000000 |
| Next Low | 201.6 |
| 2nd Low | 198.5 |
| 3rd Low | 191.7 |
206.9 – 209.8 – 202.7 – 201.6 – 198.5 – 191.7 —
205.200000000 – 207.000000000 —
53.100268168137 – 61.735451794115 —
– —
206.9 – 1781238600
Trading Signals: CRYPTO – BCH – BCH/USDT – USDT – Bearish Engulfing – – –