📉📉Long-Legged Doji 🦵
BTC short term analysis
2022-11-25 09:26:38 - JD
Good day Tafans, here we can see that Bitcoin is still in a descending triangle and we can also see a failed formation of 3 white soldiers which could potentially indicate an upward movement. So the question now, what does this candlestick pattern formation mean. What does it tell us?
Basically, a long legged doji is usually seen in an uptrend market and this states that the market could reverse. The Btc tried to go up. However, the sellers rejected it with a lot of selling volume. when a long-legged doji has formed, it can usually indicate a further downward move - not always, but it's more likely to happen. Remember that we're still within the big pattern, always remember to manage your risk properly Don't go "all in" on every trade. Think of trading as surviving today to fight again tomorrow. Disclaimer this isn't financial advice What I do is very risky and nobody should copy me.
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Blog Author: John Daele Bandilla