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The Market Reaction Following a Hammer Candlestick Pattern in Bitcoin

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

A hammer btcusd crypto candle pattern comprises:

  • 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 has a very small upper shadow if present.
  • The color of the body isn't important

What Happens in Bitcoin after a Hammer Bitcoin Candlesticks Pattern?

What Happens in Crypto Currency after a Hammer Crypto Candles Pattern?

Analysis of Hammer Bitcoin Candlesticks Pattern

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

When you open a trade using the hammer candlestick pattern, set your stop loss a few pips below the low of the hammer.

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