Bullish Cryptocurrency Candle Patterns and Bearish Cryptocurrency Candlestick Patterns

Hanging Man Bearish Cryptocurrency Candle Setups

Reversal candle 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 candlestick patterns are:

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

Hammer Bitcoin Candle Pattern & Hanging Man Bitcoin Candlestick

Hammer Bitcoin Candle Pattern & Hanging Man Bitcoin Candle Pattern candlesticks look alike but hammer is bullish reversal bitcoin pattern and hanging man is a bearish reversal bitcoin pattern.

Hammer Bitcoin Candle Pattern & Hanging Man Bitcoin Candlestick Pattern

Hammer Candlestick

Hammer is a potentially bullish setup which occurs during a downward cryptocurrency trend. It's named so because the btcusd market is hammering out a market bottoms.

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 candlestick 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 candle.

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 candle 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 candle 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.