Is Inverted Hammer Candlestick Pattern Bullish or Bearish?

Inverted Hammer candle-sticks setup is a bullish reversal candlestick pattern. It forms at the bottom of a Crypto trend.

Inverted Hammer candle-sticks setup occurs at the bottoms of a down bitcoin trend & indicates possibility of reversal of the downwards trend.

Inverted Hammer Bullish Crypto Candlesticks Setup

Analysis of Inverted Hammer BTCUSD Crypto Candle Pattern

A bullish reversal buy crypto signal is confirmed when a candlestick closes above the neck-line, this is the opening of the candle-stick on the left side of this inverted hammer candles setup. The neckline in this case is a resistance area.

Stop orders for the buy trades should be set a couple of pips below the lowest bitcoin price on the recent low once a btc/usd trader opens a trade transaction based on this candles setup. An inverted hammer cryptocurrency candlesticks pattern is named so because it signifies that the btcusd market is hammering a bottom.

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