How Do I Interpret Bitcoin Candlestick Pattern?
Bitcoin Trade a Bitcoin Candlestick Setup
To identify a candles pattern you'll need to first learn about the various candlesticks patterns and learn under which setup these patterns form on the chart and what cryptocurrency signal is generated by each of these bitcoin candles setups.
Among the various popular candlesticks patterns that every bitcoin trader should know are:
Trading Identify a BTCUSD Candle Pattern
This is a candlestick set-up with same opening & closing btcusd crypto currency price. There are various types of doji cryptocurrency candlesticks pattern that form on Bitcoin Crypto Currency charts.
The following example show various patterns of the doji candlestick:
Long-legged doji candle pattern has long upper and lower shadows with the opening and closing bitcoin price at the middle. When Long legged doji appears on BTCUSD Crypto chart it illustrates indecision between traders, the buyers & the sellers.
Shown Below is an example screenshot screen shot of the Long Legged Doji bitcoin crypto currency candles pattern setup
Doji Chart Pattern - Doji Candlesticks - Trading Identify a Bitcoin Candlestick Pattern
Doji Candles
Marubozu Candlesticks
Marubozu candle pattern are long candles which have no upper or lower shadows, Like the ones displayed & shown below.
Marubozu Candlesticks - Trading Identify a Bitcoin Candlestick Pattern
Marubozu candle setup are continuing bitcoin candle patterns which show bitcoin price is going to continue in same direction as that of marubozu bitcoin candlestick. The marubozu crypto candles pattern can be white/blue or Black/red depending on the direction of the trend.
Trading Identify a Bitcoin Crypto Currency Candle Setup
Spinning tops candlestick set-up have a small body with long upper and lower shadows. These spinning top bitcoin crypto currency candles patterns are referred to by this name because these candlesticks arrangements are similar to spinning top on a match-stick.
The upper and lower shadows of the spinning top candlesticks pattern setup are longer than the body. The example shown below illustrates the spinning top candlestick pattern. You can look for the pattern in your MT4 BTCUSD Crypto Platform bitcoin crypto currency charts. The example shown below shows a screen-shot to help traders when it comes to learning & understanding these candle setup.
Spinning Top Candles
The color of the spinning top candlestick cryptocurrency candlesticks pattern setup is not important, this pattern shows the indecision between buyers and the sellers in Bitcoin Crypto market. When these bitcoin crypto set-ups appear at the top of a btcusd crypto trend or at the bottom of the btcusd crypto trend it may signal that the bitcoin crypto currency trend is coming to an end & it might soon reverse and begin going in the opposite trend direction. However, it is best to wait for confirmation bitcoin signals that direction of a instrument has reversed before taking the signal from the candle setup pattern formation.
Trading Identify a Bitcoin Crypto Candle Setup
Hammer Candlestick Pattern & Hanging Man Candlestick Setup candle-sticks look alike but hammer is bullish btcusd crypto reversal candle pattern & hanging man is a bearish bitcoin crypto currency reversal candle setup.
Cryptocurrency Candles
Trading Identify a Bitcoin Crypto Candle Setup
Hammer candlestick setup is a potentially bullish bitcoin candle set-up which occurs during a downward trend. It's named so because the btcusd cryptocurrency market is hammering out a btcusd crypto market bottom.
Trading Identify a BTCUSD Crypto Candlestick Setup
This hanging man candle setup is a potentially bearish bitcoin reversal cryptocurrency signal which forms during a upwards trend. It is named so because it looks like a man hanging on a noose up high.
Crypto Candlesticks
Trading Identify a Bitcoin Crypto Currency Candlestick Setup
This is a bullish bitcoin reversal candle pattern. It forms at the bottom of a BTCUSD Crypto trend.
Inverted hammer cryptocurrency candle pattern occurs at the bottom of a downward bitcoin trend & indicates possibility of a reversal of the downward Bitcoin trend.
Crypto Candlesticks - Trading Identify a Bitcoin Candlestick Pattern
Trading Identify a Bitcoin Crypto Currency Candle Setup
Shooting Star is a bearish bitcoin reversal candlestick pattern. It forms at the top of a trend.
Shooting Star candle pattern occur at the top of an upward bitcoin trend in the Bitcoin market where the open bitcoin price is same as the low & bitcoin price then rallied up but was forced back down to close near the open.
Shooting Star Candle - Crypto Candles
Trading Identify a Bitcoin Crypto Currency Candlestick Setup
Piercing line candle set-up is a long black body followed by a long white body candles.
White body pierces the midpoint of the prior black body.
This Piercing Line candle setup is a bullish bitcoin reversal candle pattern that forms at the bottom of a bitcoin market downward trend. It shows that the btcusd cryptocurrency market opens lower and closes above the mid point of the black body.
This Piercing Line candle setup highlights that the momentum of the downward bitcoin trend is reducing & btcusd market trend is likely to reverse and move in an upward direction.
This Piercing Line candle setup is displayed known as a piercing line signifying the btcusd market is piercing the bottom showing a bitcoin market floor for the bitcoin price downward trend.
Crypto Candlesticks
Trading Identify a Bitcoin Crypto Currency Candlestick Setup
Opposite of piercing candlestick candlestick.
This candle is a long white body followed by a long black body.
Black body pierces the mid point of the prior white body.
This is a bearish bitcoin crypto currency reversal bitcoin crypto setup which forms at the top of an upward trend.
Dark Cloud candlestick setup that the btcusd market opens higher and closes below the midpoint of the white body.
Dark Cloud candle setup highlights that the momentum of the upward bitcoin trend is reducing & btcusd market trend is likely to reverse & move in a downward bitcoin direction.
Dark Cloud candlestick setup is shown referred to as a cloud cover signifying the cloud as a ceiling for the bitcoin price upward trend.
Dark Cloud Cover Candle Setup - Crypto Candles
Trading Identify a Bitcoin Crypto Currency Candle Setup
Morning Star Candle Setup - Crypto Candles
Trading Identify a Bitcoin Crypto Currency Candlestick Setup
Opposite of morning star btcusd crypto candlesticks pattern setup
Evening Star Candle-stick Setup - Trading Identify a Bitcoin Candlestick Pattern
Crypto Candlesticks
Engulfing is a reversal candlestick pattern setup that can be bullish or bearish depending upon whether it appears at the end of a bitcoin market downwards bitcoin trend or at the end of a bitcoin market upward trend.
Cryptocurrency Candlesticks
Drawing Candlesticks on MT4 - Candles Pattern Setups Guide for Day Trading
Bitcoin Candlesticks patterns that every bitcoin trader should know.
Analyze Bitcoin Candlestick Pattern
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