Dark Cloud Cover BTCUSD Candle Pattern

Dark Cloud Cover Bearish Cryptocurrency Candlestick Patterns

A Piercing Line Bitcoin Candle Pattern & Dark Cloud Cover Cryptocurrency Candle Pattern look alike but the difference is that one occurs at the top of a Bitcoin up bitcoin trend (Cloud Cover) and the other occurs at the bottom of a downwards bitcoin trend (Piercing).

Upward Bitcoin Trend Reversal - Dark Cloud Cover Candles

Downward Bitcoin Trend Reversal - Piercing Line Candles

Piercing Line Candlestick

Piercing line is a long black body followed by a long white body candle.

White body pierces the mid point of the prior black body.

This is a bullish reversal bitcoin pattern that forms at the bottom of a market downward cryptocurrency trend. It shows that the btcusd trading market opens lower & closes above the midpoint of the black body.

This shows that the momentum of the down bitcoin trend is reducing and btcusd trading market bitcoin trend is likely to reverse and move in an upward direction.

This bitcoin pattern is displayed known as a piercing line signifying the btcusd market is piercing the bottom showing a market floor for the bitcoin price downwards trend.

Piercing Line Candle

Technical Analysis Piercing Line Candlestick

A buy cryptocurrency signal is confirmed once bitcoin price closes above neck-line - the neck-line is the opening of the candle to the left of the Piercing Line candle.

This is a bullish setup and bitcoin price should continue moving upwards and for a trader who puts a buy bitcoin trade should also place a stop loss bitcoin order just below the lowest bitcoin price area.

Dark Cloud Cover Candlestick

Opposite of piercing candle.

This candlestick is a long white body followed by a long black body.

The black body pierces the mid point of the prior white body.

This is a bearish reversal bitcoin pattern which forms at the tops of an upwards cryptocurrency trend.

It shows that the btcusd trading market opens higher & closes below the midpoint of the white body.

This shows that the momentum of the up bitcoin trend is reducing and btcusd trading market bitcoin trend is likely to reverse and move in a downward direction.

This bitcoin pattern is shown known as a cloud cover signifying the cloud as a ceiling for the bitcoin price upward trend.

Dark Cloud Cover Candlestick

Technical Analysis Dark Cloud Cover Candlestick

A sell cryptocurrency signal is confirmed once bitcoin price closes below neckline which is the opening of the candle on the left of this candlestick.

This is a bearish setup and bitcoin price should continue moving downwards and for a trader who puts a sell bitcoin trade should also put a stop loss bitcoin order just above the highest bitcoin price area.