Blockchain and Cryptocurrency Basic - Identification of Candlestick Patterns on Cryptocurrency Price Chart

in hive-175254 •  2 years ago 

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On the 3days chart of BTC/USDT pair, there were a couple of patterns that were present on the 3day chart.

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Bearish engulfing pattern - This is one of the patterns that was formed on the 3days chart. The bearish engulfing pattern is basically a pattern that can be called a reversal pattern. It forms at the top of the uptrend and indicates that there is a potential downtrend.

Bullish engulfing pattern - This is one of the patterns that was present on the 3days and 7days chart. The bullish engulfing pattern is basically a pattern that can be called a reversal pattern. It forms at the bottom of the downward movement and indicates that there is a potential uptrend.

Doji pattern - The Doji candlestick pattern was present on both the 3days and 7days chart. It basically represents indecision in the market which means that both the buyers and sellers are equal. It can also represent a slow in momentum for an existing upward trend.

On the 7day chart of BTC/USDT pair, there were a couple of patterns that were present on the 3day chart.

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Morning star pattern - The morning star pattern was present on the 7days chart. It is basically a pattern that forms with three candlesticks at the bottom of an downward movement that shows that there is a slowdown in the downward momentum, before the bullish move that signals that there is a possible uptrend reversal.

Doji pattern - The Doji candlestick pattern was present on both the 3days and 7days chart. It basically represents indecision in the market which means that both the buyers and sellers are equal. It can also represent a slow in momentum for an existing upward trend.

Bullish engulfing pattern - This is one of the patterns that was present on the 3days and 7days chart. The bullish engulfing pattern is basically a pattern that can be called a reversal pattern. It forms at the bottom of the downward movement and indicates that there is a potential uptrend.

When it comes to cryptocurrency investments, it is important to do proper fundamental analysis on the project so as to make the best investment decisions. Polygon is one of my favorite cryptocurrency because of its potential to the upside. After my research and fundamental analysis, I made the decision to invest in this project. With its amazing features and solutions it brings, there is no doubt that MATIC is heading to the top. Finally, when it comes to investment and trading, technical analysis is very important. Chart patterns are key elements of technical analysis that can help a trader or investor make the best decisions in the market.

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hi @chimzycash

Could you please slow down little bit with amount of publications posted within project.hope ?

8 posts within a week is a bit to much. Especially since you don't seem to engage in comments with anyone's else publications.

So perhaps you could slow down to max 1 post every second day. And try to invest some time to read and comment on other members work as well if possible.

Yours, Piotr

Hi @crypto.piotr

Just read your comment

However, for clarity, I only post daily and not 8 posts in a week. So I'm not really sure where you got the 8 posts in a week figure from.

For the daily content, I just checked and I can see that I'm not the only one who publishes content daily in this ph community, which means that publishing daily content in project hope isn't a problem... Maybe the daily content publishing is specifically targeted to my account.

Would love to know what the underlying problem really is...

Me publishing daily content and not commenting on other posts? or me publishing daily content in project hope?

That way, It is clear how to resolve the problem.

Thank you for getting back to me @chimzycash. Appreciate your time

So I'm not really sure where you got the 8 posts in a week figure from.

I only counted posts which were published in Project.hope within last 7 days. And there was exactly 8 posts (once you posted twice a day).
It's not a big deal. But I need to ensure that everyone is following more or less similar postuing guideliness. And I've been always requesting not to exceed 4-5 posts a week.

I just checked and I can see that I'm not the only one who publishes content daily in this ph community, which means that publishing daily content in project hope isn't a problem...

I understand. Thanks for pointing out. Of course I'm aiming to discuss this topic with everyone who post daily. And there is no real underlying problem. It's just my small request to slow down a bit with posting and request for you to also engage from time to time in comments with other PH members.

Cheers, Piotr