Real-time cryptocurrency candlestick charts are one of the analysis techniques for determining the reasons for market prices. Not just for cryptocurrencies, candlestick charts are only used for other similar assets and stocks, as well as forex. In this article, we intentionally discuss the Japanese candlestick patterns that cryptocurrency traders work with in much the same way and very consistently. How to read the coding scheme .
Bullish reversal candlestick pattern
As the announcement suggests, a bullish reversal candlestick design is a main chart that can help traders anticipate the direction of a price reversal from a bearish trend to a bullish trend. Generally speaking, there are many bullish reversal candle patterns on this side, here they are.
Nail. hammer
A bullish hammer candle is a bullish reversal project, indicating that the downtrend is also over and property prices may rise or fall. In this case, the merchant charges a lower rate during menstruation. Then there is strong pressure to buy and close cryptocurrency holdings at a higher price than the opening price.
from them. Morning Star
Usually, this candlestick chart shows the end of a downtrend. It also indicates a bullish reversal. This morning’s star motif consists of a long red candle on the left, followed by a bold candle where the candies can live in red or green, accompanied by a greenish candle that closes the eyes on the left. inside or sometimes higher than the first candle.
Third. three white soldiers
This arrangement consists of 3 candles in a row with an extra long green shade with pocket wicks. This suggests a strong upward trend as there is constant buying pressure following the downward trend in costs in the previous days.
bearish reversal candlestick pattern
In addition to bullish candle patterns, there are very bearish candle patterns that represent the first cryptocurrency traders who decide to open or close their trading positions. A bearish reversal candlestick pattern is a pattern that traders use to predict price movements from an uptrend to a downtrend. Below is a more or less bearish reversal candlestick pattern.
Nail. dark cloud cover
It consists of a large green candle followed by a similar ruby candle with an opening and closing price higher than the first candle, indicating a potential decline in cryptocurrency earnings.
According to. night star
This is a small drawing of a red candle appearing above a long green candle. These two candlesticks shouldn’t affect each other for life, which is called the evening star design. This candlestick design usually signals a bearish reversal as the cost of holding cryptocurrencies falls inward.
This is a real-time cryptocurrency candlestick chart pattern.
