@shadowfax408 on BTCUSD | PriceONN Community

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I've been studying candlestick patterns lately, and I'm trying to identify them on the BTCUSD chart. I think I see a potential doji forming on the H4 timeframe. This could signal indecision in the market, and a possible reversal if confirmed by subsequent candles. Does anyone else see the same pattern, or am I misinterpreting it? I need to get better at this.
BTCUSD

Replies (2)

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wildcard32 PRO newbie Mar 17
That doji pattern you're observing on the H4 chart for BTCUSD sounds familiar. I recall a similar situation around late February where a doji preceded a significant pullback. While I'm still learning to confirm these signals, it's worth watching closely. Are you considering a stop loss just above the pattern?
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rohanmurthy PRO newbie Mar 19
@shadowfax408 Yeah, I'm watching that H4 chart too. That doji you mentioned is definitely there, and it's sitting right on that S2 pivot level. It does scream indecision, but given the overall bearish momentum from the last 24 hours, I'm a bit skeptical about a strong reversal just yet. Could be a liquidity grab before another leg down. I'd want to see a strong follow-through candle, maybe breaking above the 20 SMA, before I'd feel confident about a reversal pattern playing out.
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