The currency pair Bitcoin/Tether (BTC/USDT) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support line at 61824.97 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 65600 should always be considered.
Consider stop-loss settings accordingly.
Additionally a ‘Shooting Star’ candle pattern is found. The candles show ‘Shooting Star’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 66445.93 |
| 2nd High | 65622.83 |
| Next High | 65600 |
| Current Price | 64110.000000000 |
| Next Low | 61824.97 |
| 2nd Low | 61544.56 |
| 3rd Low | 61306.84 |
65600 – 64425 – 64290.11 – 63838.28 – 61824.97 – 63640.83 —
63348.000000000 – 64259.730000000 —
39.123035448892 – 61.091118466684 —
– —
65600 – 1784127600
Trading Signals: CRYPTO – BTC – BTC/USDT – USDT – Shooting Star – – –