Dark Cloud Cover Bitcoin Candlestick Pattern

Dark Cloud Cover Bearish Cryptocurrency Candlestick Patterns

A Piercing Line Bitcoin Candlestick Pattern and Dark Cloud Cover Cryptocurrency Candlestick 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 Bitcoin Trend Reversal - Dark Cloud Cover Candlesticks

Downward Bitcoin Trend Reversal - Piercing Line Candlesticks

Piercing Line Candlestick

Piercing line is a long black body followed by a long white body candlestick.

The white body pierces the midpoint of the prior black body.

This is a bullish reversal bitcoin pattern that forms at the bottom of a market downward cryptocurrency trend. It shows that the btcusd trading market opens lower and closes above the midpoint of the black body.

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

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

Piercing Line Candlestick

Technical Analysis Piercing Line Candlestick

A buy cryptocurrency signal is confirmed once btcusd price closes above the neckline which is the opening of the candlestick on the left of the Piercing Line candlestick.

This is a bullish setup and btcusd price should continue moving upwards and for a bitcoin trader who puts a buy bitcoin trade should also place a stop loss bitcoin order just below the lowest btcusd price level.

Dark Cloud Cover Candlestick

Opposite of piercing candlestick.

This candlestick is a long white body followed by a long black body.

The black body pierces the midpoint of the prior white body.

This is a bearish reversal bitcoin pattern that forms at the top of an upward cryptocurrency trend.

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

This shows that the momentum of the up bitcoin trend is reducing and the btcusd trading market bitcoin trend is likely to reverse and move in a downward direction.

This bitcoin pattern is shown known as a cloud cover signifying the cloud as a ceiling for the btcusd price upward trend.

Dark Cloud Cover Candlestick

Technical Analysis Dark Cloud Cover Candlestick

A sell cryptocurrency signal is confirmed once btcusd price closes below the neckline which is the opening of the candlestick on the left of this candlestick.

This is a bearish setup and btcusd price should continue moving downwards and for a bitcoin trader who puts a sell bitcoin trade should also put a stop loss bitcoin order just above the highest btcusd price level.