What Happens in Bitcoin after a Hammer Bitcoin Candlesticks Pattern?

Hammer candlestick pattern setup is a potentially bullish candle set-up which occurs during a downwards trend. It's named so because the btcusd cryptocurrency market is hammering out a bottom.

A hammer btcusd crypto candlestick pattern has:

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

What Happens in Crypto after a Hammer Crypto Candlesticks Pattern?

Analysis of Hammer Bitcoin Candlesticks Pattern

The bullish reversal buy cryptocurrency signal is confirmed when a candlestick closes above the opening bitcoin price of the candlestick on the left of this hammer candlestick pattern.

Stop loss orders should be set a few pips just below the low of the hammer candlestick once a trade is opened using this candlesticks pattern formation.

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What Happens in Bitcoin after a Hammer Bitcoin Candlesticks Pattern?

Analysis of Hammer Bitcoin Candlesticks Pattern