Bullish Cryptocurrency Candle Patterns and Bearish Cryptocurrency Candlestick Patterns

Hanging Man Bearish Cryptocurrency Candlestick Patterns

Reversal candlestick patterns occur after an extended prior trend. Therefore, for a candlestick pattern to qualify as a reversal pattern there must be a prior trend.

These reversal candle-stick patterns are:

1. Hammer Candle Pattern & Hanging Man Cryptocurrency Candlestick Pattern
2. Inverted Hammer Candle Pattern and Shooting Star Cryptocurrency Candlestick Pattern
3. Piercing Line Candle Pattern & Dark Cloud Cover Cryptocurrency Candlestick Pattern
4. Morning Star Candlesticks and Evening Star Candlesticks
5. Engulfing Candlesticks Patterns

Hammer Candle Pattern & Hanging Man Candlestick

Hammer Candle Pattern & Hanging Man Candle Pattern candlesticks look alike but hammer is bullish reversal pattern and hanging man is a bearish reversal pattern.

Hammer Candle Pattern & Hanging Man Candlestick Pattern

Hammer Candlestick

Hammer is a potentially bullish pattern which occurs during a downward cryptocurrency trend. It is named so because the btcusd market is hammering out a market bottoms.

A hammer has:

• A small body
• The body is at the top
• The lower shadow is two or three times length of the real body.
• Has no upper shadow or very small upper shadow if present.
• The color of the body isn't important

Hammer Candle

Technical Analysis of Hammer Trading Candlesticks Pattern

The buy signal is confirmed when a candlestick closes above the opening price of the candlestick on the left side of this hammer candlestick pattern.

Stop orders should be placed a few pips just below the low of the hammer candle-stick.

Hanging Man Candlestick

This pattern is a potentially bearish reversal signal which forms during a crypto upward trend. It's named so because it resembles a man hanging on a noose up high.

A hanging man candle-stick has:

• A small body
• The body is at the top
• The lower shadow is two or three times length of the real body.
• Has no upper shadow or very small upper shadow if present.
• The color of the body isn't important

Hanging Man Candle

Technical Analysis of Hanging Man Candles

The sell signal is confirmed when a bearish candle closes below the open of the candlestick on left-side of this hanging man candlestick pattern.

Stop orders should be placed a few pips just above the high of the hanging man candle-stick.