2023-05-15 08:08:05
#BTC/USDT 1D
Good day!
On the cue ball, the day closed with a hammer-shaped candle, which may hint at a local upward rebound. Nevertheless, we have seen the $25,750 area stabbed and I expect that in any case we will reach the goals of our correction, namely the $24,400 – $25,300 zone at least. The level of $ 25,000 will restrain BTC from falling below, but in case of a breakdown, we can see a movement to the area of $ 22,000, although if we look at these realities, this is unlikely. The mood in the market has changed from greed to fear, which suggests that the market will soon go up, the fear will be bought out by major players, which means we are unlikely to see a drop below our goals.
There have been no conversations about candlestick patterns for a long time, because I didn't notice anything remarkable on the chart, but I already told you about the hammer pattern. And even though this time it is not perfect, with a small shadow on top, nevertheless, as already mentioned, it is better to listen to a false signal than to miss the true one. Let me remind you briefly what this candle model means
So, the "hammer" is a reversal pattern at the base, but it can also indicate the termination of the downward movement and the beginning of a sideways movement – a flat. The longer the lower shadow, the shorter the upper shadow and the smaller the body, the stronger the bullish signal. It's the weekend and we are unlikely to see any sharp movement, but at the beginning of a new week it is worth watching the market closely
1.0K viewsMerc Hawk, 05:08
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