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Indicators and patterns

11/1/2024

Indicators and patterns

Indicators and patterns

The Harami Pattern is a two-candlestick pattern that indicates a potential reversal in the market. In this case, it is a bearish signal, suggesting a possible trend change from bullish to bearish. The pattern consists of a large candlestick followed by a smaller candlestick that is completely engulfed within the body of the first candle. This formation suggests indecision in the market and a possible shift in momentum.

The "Harami Pattern CROSS" specifically refers to the occurrence of this pattern at a crossover point, which can add to its significance as a reversal signal. In this context, the Harami Pattern CROSS on the 15-minute chart of the BTC/USD pair at a price of 69479.37 on November 1, 2024, is indicating a bearish sentiment and suggests a potential selling opportunity.

Traders and investors may interpret this signal as a sign to consider selling their positions or taking a bearish stance on the market, anticipating a downward price movement. It is important to consider other factors and use risk management strategies when making trading decisions based on this signal.

This is not investment advice. Remember to verify the information provided here.

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