Bitcoin traders are pointing to a “bullish candle hammer” that has emerged on Bitcoin’s weekly price chart — which they say could signal a possible reversal of the past month’s downtrend.

Bitcoin has reclaimed $62,000 just a few days after “Crypto Black Monday,” with traders pointing to a bullish pattern on the seven-day price chart, which signals Bitcoin may have hit its floor.

The Hammer is a bullish reversal pattern, which signals that a stock is nearing the bottom in a downtrend. The body of the candle is short with a longer lower shadow.

Interpreting Japanese candlesticks can give a trader important insight into market momentum. By understanding how to read candles, traders can often include them in their analysis to find areas of ...

A Hammer Doji is a type of bullish reversal candlestick pattern that can be used in technical analysis. When candles of different shapes are arranged in a certain way on the chart, they can ...