Indicators and patterns
8/2/2024
Indicators and patterns
The Harami pattern is a two-candlestick pattern that signals a potential trend reversal. In this case, the Harami pattern appeared on the 15-minute chart of the BTC/USD pair, indicating a bearish reversal. The first candle is a large bullish candle, followed by a smaller bearish candle that is completely engulfed by the body of the first candle. This pattern suggests that the previous bullish momentum may be losing strength and that a bearish reversal could be imminent.The signal generated by this Harami pattern is to sell, as it indicates a potential shift from bullish to bearish sentiment in the market. The signal occurred at a price of 64274.56 on August 2, 2024, at 7:00 AM. Traders and investors may consider this signal as an opportunity to take profits or enter short positions in anticipation of a downward price movement in BTC/USD.
This is not investment advice. Remember to verify the information provided here.
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