224 3 5
4 hour
Comment: the big problem i see is the 4 hour candle is counting down , its on candle # 2 and it can count down to 9 (36 huours) or it can flip to green when it hits the green line at the bottom , We will know in 35 minutes
Comment: BEARISH THREE BLACK CROWS
Definition
This pattern indicates a strong reversal in the market. It is characterized by three normal or long candlesticks decrementing downwards. The opening of each day is slightly higher than previous close and prices progressively close at lower levels. This staircase like behavior signals the reversal of the trend.
Recognition Criteria
1. The market is characterized by a prevailing uptrend.
2. Three consecutive normal or long black candlesticks are observed.
3. Each candlestick opens within the body of the previous day.
4. Candlesticks progressively close at new lows, below the preceding day.
Pattern Requirements and Flexibility
The Three Black Crows consists of three consecutive normal or long black candlesticks. The last two candlesticks must open within the range of the preceding candlestick and close lower.
Comment: wait for confirmation . if its a reversal BTC will dip in when the 4 hour candle closes in 30 mins. Also it will drop below 8500 .
Comment: if it does not bounce at the green line (83xx) its going to 7900
So down?
Reply
mycotoxin Clueless13
@Clueless13, looking like it . you can wait from confirmation from the 4hour candle in about 30 mins . BTC will dip to confirm the reversal
Reply
Clueless13 mycotoxin
@mycotoxin, Thanks, appreciate your help
Reply
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