What are the best engulfing patterns to look for in cryptocurrency trading?

1 answers

• Nov 29, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, has identified several engulfing patterns that have shown promising results in cryptocurrency trading. These patterns include the bullish engulfing pattern, bearish engulfing pattern, and the piercing pattern. The bullish engulfing pattern indicates a potential upward trend, while the bearish engulfing pattern suggests a potential downward trend. The piercing pattern, on the other hand, occurs when a bearish candle is followed by a bullish candle that closes above the midpoint of the previous bearish candle. This pattern indicates a potential reversal in a downward trend. It's important to note that while these patterns have shown promising results, they should be used in conjunction with other technical analysis tools and indicators for more accurate predictions.
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