Bitcoin Candlestick Chart
JANUARY 10, 2020 / 10:44 UTC
LONDON (Fintech Zoom) – 5 Bearish Candlestick Pattern – A candlestick pattern is simply the movement of prices which is graphically represented on a candlestick chart. The two (2) horizontal lines indicates the sell level and the stop loss level.
The bearish patterns helps traders know when to sell to make profits and when not to sell in order to avoid loss.
Five (5) types of Bearish Candlestick pattern are;
- Bearing Hanging Man:
This usually occurs at the zenith of a trend or when there is an increase in the price trend. The upper horizontal line is known as the stop loss level while the lower one is the sell level. This pattern helps to notify the trader of increase in pressure of selling.
- Bearish Engulfing:
The black body in this pattern engulfs the smaller white body and the black body is usually longer than the white body. The white body indicates a decrease in the buying volume of the market.
- Bearish Shooting Star:
This pattern contains a white body which precedes an inverted hammer with a long upper shadow feature and a minute body. There is almost no shadow in this pattern. The verified level is defined as the downside of the inverted hammer’s body.
- Bearish Descending Hawk:
In this pattern, there are two white bodies of varying lengths. There is a usual uptrend in the market. The validation level of the market is given as the centre of the first white body.
- Bearish Abandoned Baby:
There are three candlesticks in this pattern which indicates a major top reversal. The candlestick of the second day is separated from the first and third days, hence the name, abandoned.
More Information – Bearish Candlestick Pattern
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