Bullish Cryptocurrency Candle Setups and Bearish Cryptocurrency Candlestick Setups

Shooting Star Bearish Cryptocurrency Candle Setups

Inverted Hammer Bitcoin Candle Pattern and Shooting Star Bitcoin Candle Setup candlesticks look similar. These candlesticks have a long upper shadow and a short body at the bottom. Their fill color doesn't matter. What matters is the point at where they appear whether at the top of a market bitcoin trend (star) or the bottom of a market bitcoin trend (hammer).

Difference is that inverted hammer is a bullish reversal bitcoin setup while shooting star is a bearish reversal bitcoin pattern.

Upward Bitcoin Trend Reversal - Shooting Star Candles

Downward Bitcoin Trend Reversal - Inverted Hammer Candles

Inverted Hammer Bitcoin Candle Pattern and Shooting Star Bitcoin Candle Setup Bitcoin Chart Pattern Setups

Inverted Hammer BTCUSD Candlestick

This is a bullish reversal candlestick setup. It occurs at the bottom of a Bitcoin trend.

Inverted hammer forms at the bottoms of a down bitcoin trend and indicates possibility of a reversal of the downward Bitcoin trend.

Inverted Hammer BTCUSD Trading Candle

Analysis of Inverted Hammer BTCUSD Candlestick

A buy is completed when a candlestick closes above the neckline, this is opening of the candlestick on the left side of this pattern setup. The neckline in this case is a resistance zone.

Stop orders for the buy cryptocurrency trades should be set a few pips below the lowest bitcoin price on the recent low.

An inverted hammer is named so because it shows that the btcusd market is hammering out a bottom.

Shooting Star Candlestick

This is a bearish reversal candle pattern. It occurs at the tops of a market trend.

It occurs at the top of an up bitcoin trend where the open bitcoin price is the same as the low and bitcoin price then rallied up but was forced back downward to close near the open.

Shooting Star Candle

Analysis of Shooting Star Candle-stick

A sell is completed when a candle closes below the neckline, this is opening of the candlestick on the left side of this pattern. The neck line in this case is a support level.

Stop orders for the sell cryptocurrency trades should be placed a few pips above the highest bitcoin price on the recent high.

The Shooting Star candlestick is named so because at the top of an upward market bitcoin trend this cryptocurrency candle pattern looks like a shooting star up high in the sky.