BitcoinLong
Three Black Crows on Bitcoin "GOOD"
Three Black Crows on Bitcoin "GOOD"
The candlestick is a way of representing price for a specific time period and is composed of four data points including Open, High, Low and Close (OHLC).
The candlestick patterns can be observed at any time frame but the most influential time frames are the 4 hour, daily and weekly charts. Candles can be used as an entry signal on most charts when combined with other tools and indicators.
This article will explain how to implement an entering strategy using this candlestick pattern with proper risk and reward management.
The Importance of the Three Black Crows Pattern
The “Three Black Crows” candlestick pattern is known as a very strong bearish pattern. Here are key details of this formation:
There are three consecutive bearish candles in a row.
All three candles break the candle low of preceding candle respectively.
The candles are relatively large in size.
After the completion of the pattern, the price gradually retraces back to the 50-61.8% retracement level.
Price should turn at the Fibs without breaking the top.
The candlestick is a way of representing price for a specific time period and is composed of four data points including Open, High, Low and Close (OHLC).
The candlestick patterns can be observed at any time frame but the most influential time frames are the 4 hour, daily and weekly charts. Candles can be used as an entry signal on most charts when combined with other tools and indicators.
This article will explain how to implement an entering strategy using this candlestick pattern with proper risk and reward management.
The Importance of the Three Black Crows Pattern
The “Three Black Crows” candlestick pattern is known as a very strong bearish pattern. Here are key details of this formation:
There are three consecutive bearish candles in a row.
All three candles break the candle low of preceding candle respectively.
The candles are relatively large in size.
After the completion of the pattern, the price gradually retraces back to the 50-61.8% retracement level.
Price should turn at the Fibs without breaking the top.
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