Dark Cloud Cover BTCUSD Candle Pattern

Dark Cloud Cover Bearish Candle Setups

A Piercing Line Bitcoin Candlestick Pattern & Dark Cloud Cover 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 BTCUSD Crypto Currency Trend Reversal - Dark Cloud Cover Candles

Downward BTCUSD Crypto Currency 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 trend. It shows that the bitcoin crypto market opens lower and closes above the midpoint of the black body.

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

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

Piercing Line Candle

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 & bitcoin price should continue moving upward and for one 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 candle 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 btcusd crypto currency setup which forms at the top of an upward trend.

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

This highlights that the momentum of the up bitcoin trend is reducing and btcusd market bitcoin trend is likely to reverse & move in a down ward 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

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 downward & for one who puts a sell bitcoin trade should also put a stop loss bitcoin order just above the highest bitcoin price area.