5 More Bullish Candlestick Patterns Every Bitcoin Trader Should Know

With that said, here are five more bullish candlesticks patterns that every new and veteran trader should know.

The Bullish Harami pattern is a reversal pattern that consists of two candles.

The first candle is red with a longer body than the accompanying green candle, which, if measured, fits within the body length and price range of the first candle.

When observed on the daily timeframe, the left candle is bearish, whereas candle on the following day is bullish and the price gapped up on this day and refused to move below the close of the previous day.

The set is comprised of three candlesticks with the first candle being a large red bearish candle that is part of the sequence of the current downtrend.

The second candle commences with a bearish gap down and the candle closes below the previous candle.

Variations of this pattern can see the second candle be bullish or bearish but it is usually short and representative of a Doji candle.

Usually, in a bullish reversal scenario, the pattern begins with a long gap down from the first candle, which is following the trajectory of the current downtrend.

The third candle starts with a strong gap up open, which quickly pulls the price above the Doji candle and above the daily open or close of the very first candle in the sequence.

On the third day, the candlestick manages a strong open and typically closes above the middle of the candle from day one.