Bullish Cryptocurrency Candlestick Patterns and Bearish Cryptocurrency Candle Patterns

Shooting Star Bearish Cryptocurrency Candlestick Patterns

Inverted Hammer Bitcoin Candle Pattern and Shooting Star Bitcoin Candlestick Pattern candlesticks look alike. These have a long upper shadow and a short body at the bottom. Their color does not matter. What matters is the point where they appear whether at the top of a market bitcoin trend (star) or the bottom of a market bitcoin trend (hammer).

Difference is that inverted hammer is a bullish reversal bitcoin pattern while shooting star is a bearish reversal bitcoin pattern.

Upward Bitcoin Trend Reversal - Shooting Star Candles

Downward Bitcoin Trend Reversal - Inverted Hammer Candles

Inverted Hammer Bitcoin Candle Pattern and Shooting Star Bitcoin Candlestick Pattern Bitcoin Chart Patterns

Inverted Hammer BTCUSD Candlestick

This is a bullish reversal candle stick pattern. It occurs at the bottom of a Bitcoin trend.

Inverted hammer forms at the bottoms of a down bitcoin trend and indicates the possibility of reversal of the downward Bitcoin trend.

Inverted Hammer BTCUSD Candle

Analysis of Inverted Hammer BTCUSD Candlestick

A buy is completed when a candlestick closes above the neckline, this is opening of the candle stick on the left side of this pattern. The neckline in this case is a resistance zone.

Stop orders for the buy cryptocurrency trades should be set a few pips below the lowest bitcoin trading price on the recent low.

An inverted hammer is named so because it indicates that the btcusd market is hammering out a bottom.

Shooting Star Candlestick

This is a bearish reversal candle pattern. It occurs at the tops of a market trend.

It occurs at the top of an up bitcoin trend where the open price is the same as the low & price then rallied up but was pushed back downward to close near the open.

Shooting Star Candle

Technical Analysis of Shooting Star Candlestick

A sell is completed when a candle stick closes below the neckline, this is opening of the candlestick on the left side of this pattern. The neck line in this case is a support level.

Stop orders for the sell cryptocurrency trades should be placed a few pips above the highest bitcoin trading price on the recent high.

The Shooting Star is named so because at the top of an upward market bitcoin trend this cryptocurrency candle pattern looks like a shooting star up in the sky.