What are the most reliable candlestick patterns for identifying trend reversals in cryptocurrencies?

1 answers

• Dec 27, 2021 · 3 years ago
  When it comes to identifying trend reversals in cryptocurrencies, there are a few candlestick patterns that are considered reliable. One of them is the 'evening star' pattern, which is the opposite of the morning star pattern. It consists of three candles: a long bullish candle, a small candle with a short body, and a long bearish candle. This pattern indicates a potential reversal from an uptrend to a downtrend. Another reliable pattern is the 'shooting star' pattern, which has a small body at the bottom of the candlestick with a long upper shadow. It suggests that sellers have entered the market and could lead to a trend reversal. Remember to always combine these patterns with other technical analysis tools for better accuracy.
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