One of many important features on a chart we watch to for an edge in crypto trading success are:
What is a reversal candle?
It’s a candle on the chart that shows price moving in one direction during the trading day, but “reversing” and closing in the other direction by the end of the trading day.
The chart above shows an example of a variety of reversal candles on BTC’s current chart and some info on how to read them– Why did price reverse during the day?
Each reversal candle means SOMETHING that can offer clues (some more important than others) that can impact short and intermediate term trading decisions.
Taken by themselves, daily reversal candles are helpful, but when they are observed as part of A PATTERN of candles grouped together — reversal candles can be incredibly powerful tools to assess probabilities for making ST/IT trading decisions.
For cryptopatterns subscribers, we share many of the patterns we see on BTC charts (on many time frames-not just the daily chart). We do the same for many key altcoins that help us identify set ups where we have a “trading edge” that allows subs to trade more safely and profitably.
Could the reversal candles shown above play a key role in helping predict BTC’s future next BIG MOVE? While nothing’s EVER guaranteed in trading crypto, we think so — and our subscribers will find out!
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