Bitcoin chart is bearish?
According to candlestick charting criteria, we could determine a few signs of bearish implication (reversal patterns):
1. Hanging man candlestick (could be interpreted as dragonfly doji)
2. Shooting star
3. Double top as a strong reversal pattern (blue dotted line)
And an additional bearish sign:
4. A decrease in price volume
These are enough signs for pattern reversal but, bear in mind, candlestick charting technique cannot say how long will reversal trend lasting.
Finally, this is not financial advice. Remember to always do your research before investing.
1. Hanging man candlestick (could be interpreted as dragonfly doji)
2. Shooting star
3. Double top as a strong reversal pattern (blue dotted line)
And an additional bearish sign:
4. A decrease in price volume
These are enough signs for pattern reversal but, bear in mind, candlestick charting technique cannot say how long will reversal trend lasting.
Finally, this is not financial advice. Remember to always do your research before investing.
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