Looking at the weekly chart of the bitcoin shows whenever we have a bearish Outside bar in the weekly chart, there will be a 12- 25% decline in the following week!
If you look at the mid-July weekly candle, you see after a bullish reversal out bar crypto market went up 49%.
Take weekly outside bars seriously..!
What Is an Outside Reversal?
An outside reversal is a price pattern that indicates a potential change in trend on a price chart. The two-day pattern is observed when a security’s high and low prices for the day exceed the high and low of the previous day’s trading session. Outside reversal is also known as either a bullish engulfing (after a downward price move) or a bearish engulfing pattern (after an upward price move) when observed on candlestick charts.
Reference article:
https://www.investopedia.com/terms/o/outsidereversal.asp
If you look at the mid-July weekly candle, you see after a bullish reversal out bar crypto market went up 49%.
Take weekly outside bars seriously..!
What Is an Outside Reversal?
An outside reversal is a price pattern that indicates a potential change in trend on a price chart. The two-day pattern is observed when a security’s high and low prices for the day exceed the high and low of the previous day’s trading session. Outside reversal is also known as either a bullish engulfing (after a downward price move) or a bearish engulfing pattern (after an upward price move) when observed on candlestick charts.
Reference article:
https://www.investopedia.com/terms/o/outsidereversal.asp
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