junkofdavid2
Long

Short Term Bullish: Super Simple Idea

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I think a clearly bullish pattern is when there's a "well-known and basic" bearish signal and yet it closes higher. It shows strength and it's like the market says "f. you" to the bearish signal and goes higher.

(Vice-versa also applies; if there's a well-known and basic bullish signal and then closes lower, there will be further bearish movement).

In this case, there's an inverted hammer/doji and yet it closed higher.

The psychological explanation may be that traders will "panic" because it goes the other way against their prediction and will be scared to hold that position.

Just a guess! Let's see how it goes.
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