What are some common patterns of price rejection candlesticks observed in the cryptocurrency market?

1 answers

• JanzstoneJan 10, 2024 · 2 years ago
  In the cryptocurrency market, price rejection candlesticks can provide valuable insights into market sentiment and potential reversals. One common pattern is the 'bullish engulfing' candlestick, which occurs when a small bearish candle is followed by a larger bullish candle that completely engulfs the previous candle. This pattern suggests a potential reversal from a downtrend to an uptrend, as buyers start to take control. Another pattern to watch for is the 'bearish harami' candlestick, where a large bullish candle is followed by a smaller bearish candle. This pattern indicates a potential reversal from an uptrend to a downtrend, as sellers start to gain momentum. By recognizing these patterns, traders can improve their timing and make more profitable trades.
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