Candlesticks Chart Patterns
Bitcoin Doji Consolidation Candle Pattern and Bitcoin Marubozu Continuation Candlestick Pattern
Depending on the size & shape of a Cryptocurrency candlestick it is possible to determine the strength of buyers or sellers. Likewise it is also possible to determine the underlying weakness of the buyers and sellers.
Long Body Bitcoin Trading Candles
Candlesticks with long bodies show that there were a lot of buyers/sellers, depending on the color of the candlestick.
When bitcoin price makes a huge move from the opening bitcoin price to the closing bitcoin price it shows the strength of buyers/sellers.
Long Blue Candlesticks - Strength of Buyers
Long Red Candles - Strength of Sellers
Long Body Candles
Short Body Candlesticks
Candlesticks with short bodies show that there were not so many buyers/sellers and the bitcoin price did not move much from the opening bitcoin price to the closing bitcoin price.
These show that the buyers/sellers were not very strong.
Short Body Candles
Marubozu Candlestick
Marubozu are long candlesticks that have no upper or lower shadows, Like the ones displayed and shown below.
Marubozu BTCUSD Trading Candles
Marubozu are continuing candle-stick patterns that show bitcoin price is going to continue in the same direction as that of marubozu candle. The marubozu can be white/blue or Black/red depending on the direction of the trend.
Marubozu BTCUSD Trading Candles
White marubozu - the open is also the low & the close is also the high.
Marubozu means there were no retracements during that bitcoin price period & therefore shows that buyers were in total control of the bitcoin price.
White Marubozu is a continuation pattern meaning that the next candle is likely to continue in same upwards trend direction.
Black marubozu - the open is also the high & the close is also low.
Marubozu means there were no retracements and therefore shows that the sellers were in total control of the bitcoin price.
Black Marubozu is a continuation pattern meaning that the next candlestick is likely to continue in same downwards trend direction.
