BNB/USDT – 30M – SELL

The combination Binance Coin/Tether (BNB/USDT) moves from the bearish trendline down.

A continuation of the downward movement downwards to the next support line at 548.74 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 567.17 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 552.21 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 567.17 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Three Outside Down’ candlestick pattern is found. The candles show ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

567.17 – 561.19 – 559.55 – 548.74 – 548.71 – 537.25 —
562.450000000 – 561.820000000 —
62.531393457401 – 57.137404505873 —
– —
567.17 – 1782999000

Trading Signals: CRYPTO – BNB – BNB/USDT – USDT – Three Outside Down – Rising Wedge Chart Pattern – –