Bullish Cryptocurrency Candlestick Patterns and Bearish Cryptocurrency Candlestick Patterns
Hanging Man Bearish Cryptocurrency Candle Setups
Reversal candlestick patterns occur after an extended prior trend. Therefore, for a candlestick setup to qualify as a reversal bitcoin setup there must be a prior trend.
The reversal candle patterns are:
- Hammer Bitcoin Candle Pattern and Hanging Man Cryptocurrency Candlestick Pattern
- Inverted Hammer Bitcoin Candle Pattern and Shooting Star Candlestick Pattern
- Piercing Line BTCUSD Crypto Currency Candlestick Pattern and Dark Cloud Cover Candlestick Pattern
- Morning Star Candles and Evening Star Candlesticks
- Engulfing BTCUSD Candles Patterns
Hammer Bitcoin Candle Pattern and Hanging Man Bitcoin Candlestick
Hammer Bitcoin Candle Pattern and Hanging Man Bitcoin Crypto Currency Candlestick Pattern candlesticks look alike but hammer is bullish reversal bitcoin pattern and hanging man is a bearish reversal bitcoin pattern.
Hammer Bitcoin Candlestick Pattern and Hanging Man Bitcoin Candle Pattern
Hammer Candlestick
Hammer is a potentially bullish setup which occurs during a downward cryptocurrency trend. It's named so because the btcusd cryptocurrency market is hammering out a bottom.
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
Analysis of Hammer BTCUSD Candles Pattern
The buy cryptocurrency signal is confirmed when a candle closes above the opening bitcoin price of the candlestick on the left side of this hammer candlestick setup.
Stop orders should be placed a few pips just below the low of the hammer candlestick.
Hanging Man Candlestick
This bitcoin pattern is a potentially bearish reversal cryptocurrency signal which forms during a upward cryptocurrency trend. It's named so because it resembles a man hanging on a noose up high.
A hanging man candlestick 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
Analysis of Hanging Man BTCUSD Candles
The sell cryptocurrency signal is confirmed when a bearish candlestick closes below the open of the candlestick on left-side of this hanging man candle setup.
Stop orders should be placed a few pips just above the high of the hanging man candle.
