What are the bearish reversal candlestick patterns commonly observed in the cryptocurrency market?

1 answers

• Dec 25, 2021 · 3 years ago
  In the cryptocurrency market, bearish reversal candlestick patterns can be useful indicators of potential trend reversals. One commonly observed pattern is the bearish harami, which occurs when a large bullish candle is followed by a smaller bearish candle that is completely engulfed by the previous candle. This pattern suggests a potential shift in market sentiment from bullish to bearish and can indicate a potential downtrend. Another pattern to watch out for is the dark cloud cover, which consists of a large bullish candle followed by a bearish candle that opens above the previous candle's close and closes below its midpoint. This pattern indicates a potential reversal from an uptrend to a downtrend. It's important to note that these patterns should be used in conjunction with other technical analysis tools and indicators to confirm potential trend reversals.
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