Reversal Crypto Currency Candle Patterns - Piercing Line Bitcoin Candlestick Pattern
Bullish Bitcoin Candlesticks Setups
A Piercing Line BTCUSD Candlesticks Pattern and Dark Cloud Cover BTC USD Crypto Candles Pattern look similar but the difference is that one occurs at the top of a Bitcoin Trading up bitcoin trend (Cloud Cover) and the other occurs at the bottom of a downwards Bitcoin trend (Piercing).
Upward Bitcoin Crypto Currency Trend Reversal - Dark Cloud Cover Candles Patterns
Downward Bitcoin Trend Reversal - Piercing Line Candles Patterns
Piercing Line Bitcoin Candle Pattern
Piercing line candle setup pattern is a long black body then followed by long white body candlestick.
White body pierces the mid point of the prior black body.
Piercing line candle-stick setup is a bullish reversal bitcoin pattern that forms at the bottom of a market downward cryptocurrency trend. Piercing line candlestick pattern highlights that the btcusd trading market opens lower and closes above the midpoint of the black body.
Piercing line candlestick pattern highlights that the momentum of the down bitcoin trend is reducing/decreasing & bitcoin trend is likely to reverse & move in an upwards direction.
Piercing line candle-stick pattern is illustrated below & it is known as a piercing line because it signifies that the btcusd market is piercing the bottom showing/illustrating a market floor for the bitcoin price downwards trading trend.
Piercing Line Bitcoin Candlestick Pattern
Technical Analysis Piercing Line BTCUSD Candles Setup
A buy cryptocurrency signal is confirmed once bitcoin price closes above the neckline which is the opening of the candle on the left of the Piercing Line candle pattern.
This is a bullish candlestick pattern setup formation and bitcoin price should continue moving up-ward & for one who puts a buy bitcoin trade - should place stop loss cryptocurrency orders just below the lowest bitcoin price level.
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