How do hanging man candles work? What does that mean for bitcoin and crypto trading?
A hanging man candlestick occurs during an uptrend and warns that prices may start falling. The candle is composed of a small real body, a long lower shadow, and little or no upper shadow. The hanging man shows that selling interest is starting to increase.
This is a sign that this wave of upward action is OVER. This is possibly the worst weekly candle that could have formed for BTC. As we know BTC moves the market. In my opinion this candle alone could spell some durastic price action. However whales play the psychology of traders and if the majority of people believe the price action will go down often times the big players will cause some sort of "short squeeze"
Be weary is all im saying. This thing could get bumpy here as soon as the daily candle closes today. Be Vigilant, be safe. It never hurts to take some funds and sit on the sideling until the price action becomes more clear.
Killer Whale Crypto