Hello, dear members of LeoFinance!
Let me share with you an interesting technical pattern in the price chart of Bitcoin. So, in the monthly time frame (MN) BTC/USD formed a Bullish Engulfing in April:
Theoretically, the Bullish Engulfing candlestick formation is interpreted by chartists as a major bullish reversal signal.
However, I would like to mention that before that, or in February, there was a Shooting Star candlestick, which is consider to be a common bearish reversal signal.
That's why in the price chart of BTC/USD in the monthly time frame there are some very controversial candlestick formations - a bullish one preceded by a bearish one.
So, fellow Hiveians, what do you expect from Bitcoin in the next few months? Upward move, downward move or continuation of the sideways movement?
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last almost 14 years, and as a cryptocurrency analyst for the last almost 3 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency trades, investments and etc.
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