Bullish Cryptocurrency Candlestick 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 bitcoin pattern there must be a prior trend.

These reversal candlestick patterns are:

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

Hammer Bitcoin Candlestick Pattern and Hanging Man Bitcoin Candlestick

Hammer Bitcoin Candlestick Pattern and Hanging Man Bitcoin 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 Candlestick Pattern

Hammer Candlestick

Hammer is a potentially bullish pattern that occurs during a crypto downward cryptocurrency trend. It is named so because the btcusd trading market is hammering out a market bottom.

A hammer has:

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

Hammer Candlestick

Technical Analysis of Hammer Candlesticks

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

Stop orders should be place a few pips just below the low of the hammer candlestick.

Hanging Man Candlestick

This bitcoin pattern is a potentially bearish reversal cryptocurrency signal that occurs during a crypto upward cryptocurrency trend. It is 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 the length of the real body.
• Has no upper shadow or very small upper shadow if present.
• The color of the body is not important

Hanging Man Candlestick

Technical Analysis of Hanging Man Candlesticks

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

Stop orders should be place a few pips just above the high of the hanging man candlestick.