How Do I Analyze Bitcoin Candlestick Pattern?
Bitcoin Trade a Bitcoin Candlestick Setup
To spot a candlesticks pattern you'll need to first learn about the various candlesticks patterns and learn under which setup these patterns form on the chart and what cryptocurrency signal is generated by each of these bitcoin candlesticks setups.
Among the various popular candlesticks patterns that every bitcoin trader should know are:
Trading Identify a BTCUSD Candle Pattern
This is a candlestick set-up with same opening & closing btcusd price. There are various types of doji cryptocurrency candles pattern that form on Bitcoin charts.
The following example illustration show various patterns of the doji candlestick:
Long-legged doji candle pattern has long upper and lower shadows with the opening & closing bitcoin price at the middle. When Long legged doji appears on BTC USD Crypto chart it shows indecision between the traders, the buyers & the sellers.
Shown Below is an example screenshot screen shot of the Long Legged Doji bitcoin candles pattern setup
Doji Setup - Doji Candles - Trading Identify a Bitcoin Candlestick Pattern
Doji Candles
Marubozu Candles
Marubozu candle pattern are long candles which have no upper or lower shadows, Like the ones displayed and shown below.
Marubozu Candles - Trading Identify a Bitcoin Candlestick Pattern
Marubozu candle setup are continuing bitcoin candle patterns which show bitcoin price is going to continue in same direction as that of marubozu bitcoin candlestick. The marubozu crypto candlesticks pattern can be white/blue or black/red depending on the direction of the trend.
Trading Identify a Crypto Candle Setup
Spinning tops candlestick set-up have a small body with a long upper and lower shadows. These spinning top bitcoin cryptocurrency candlesticks patterns are referred to by this name because these candlesticks arrangements are similar to spinning top on a match-stick.
The upper and lower shadows of the spinning top candles pattern setup are longer than the body. The example shown below illustrates and shows the spinning top candle pattern. You can look for the pattern in your MetaTrader 4 BTC USD CryptoCurrency Platform bitcoin charts. The example shown below shows a screenshot to help the online traders when it comes to learning and understanding these candle setup.
Spinning Top Candles
The color of the spinning top candlestick cryptocurrency candles pattern setup is not important, this pattern shows the indecision between buyers and the sellers in BTCUSD CryptoCurrency market. When these bitcoin crypto set-ups appear at the top of a btcusd crypto trend or at the bottom of the btcusd crypto trend it may signal that the bitcoin crypto trend is coming to an end and it might soon reverse and start going in the opposite market direction. However, it's best to wait for confirmation bitcoin btcusd signals that direction of a instrument has reversed before taking the trade signal from the candle setup pattern formation.
Trading Identify a Crypto Candle Setup
Hammer Candlestick Pattern and Hanging Man Candlestick Setup candle-sticks look similar but hammer is bullish btcusd crypto reversal candle pattern and hanging man is a bearish bitcoin reversal candle setup.
Crypto Candles
Trading Identify a Crypto Candle Setup
Hammer candlestick setup is a potentially bullish bitcoin candle set-up which occurs during a downwards trend. It's named so because the btcusd cryptocurrency market is hammering out a btcusd crypto market bottom.
Trading Identify a BTCUSD CryptoCurrency Candlestick Setup
This hanging man candle setup is a potentially bearish bitcoin reversal crypto currency signal which forms during a upwards trend. It's named so because it resembles a man hanging on a noose up high.
Crypto Candlesticks
Trading Identify a Bitcoin Candlestick Setup
This is a bullish bitcoin reversal candlestick pattern. It forms at the bottom of a BTC/USD Crypto trend.
Inverted hammer crypto currency candle pattern occurs at the bottom of a downward bitcoin trend and shows possibility of a reversal of the downward Bitcoin trend.
Crypto Candles - Trading Identify a Bitcoin Candlestick Pattern
Trading Identify a Bitcoin Candle Setup
Shooting Star is a bearish bitcoin reversal candlestick pattern. It forms at the top of a market trend.
Shooting Star candle pattern occur at the top of an upward bitcoin trend in the Bitcoin market where the open bitcoin price is same as the low and bitcoin price then rallied upward but was pushed back down to close near the open.
Shooting Star Candlestick - Crypto Candles
Trading Identify a Bitcoin Crypto Currency Candlestick Setup
Piercing line candle setup is a long black body which is then followed by long white body candlesticks.
White body pierces the midpoint of the prior black body.
This Piercing Line candle setup is a bullish bitcoin reversal candlestick pattern that forms at the bottom of a bitcoin market downwards trend. It shows that the bitcoin crypto currency market opens lower and closes above the mid point of the black body.
This Piercing Line candle setup displays that the momentum of the downward bitcoin trend is reducing & btcusd market trend is likely to reverse and move in an upward direction.
This Piercing Line candle setup is displayed known as a piercing line signifying the btcusd market is piercing the bottom showing a bitcoin market floor for the bitcoin price downward trend.
Crypto Candlesticks
Trading Identify a Bitcoin Candlestick Setup
Opposite of piercing candlestick candlestick.
This candle is a long white body which is followed by a long black body.
Black body pierces the mid point of the prior white body.
This is a bearish bitcoin cryptocurrency reversal bitcoin crypto setup which forms at the top of an upwards trend.
Dark Cloud candle setup that the btcusd market opens higher and closes below the midpoint of the white body.
Dark Cloud candle setup displays that the momentum of the upward bitcoin trend is reducing & btcusd market trend is likely to reverse & move in a downward bitcoin direction.
Dark Cloud candle setup is illustrated referred to as a cloud cover signifying the cloud as a ceiling for the bitcoin price upwards trend.
Dark Cloud Candlestick Setup - Crypto Candles
Trading Identify a Bitcoin CryptoCurrency Candle Setup
Morning Star Candlestick Setup - Crypto Candles
Trading Identify a Bitcoin Candlestick Setup
Opposite of morning star btcusd crypto candlesticks pattern setup
Evening Star Candlestick Setup - Trading Identify a Bitcoin Candlestick Pattern
Crypto Candles
Engulfing is a reversal candlestick pattern setup that can be bullish or bearish depending upon whether it occurs at the end of a bitcoin market downwards bitcoin trend or at the end of a bitcoin market upwards trend.
Crypto Candles
Drawing Candlesticks in the MT4 Software - Candlesticks Patterns Guide Lesson for Day Trading
Bitcoin Candlesticks patterns that every bitcoin trader should know.
Analyze Bitcoin Candlestick Pattern
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