Cryptocurrency Q&A
Are hammer and inverted hammer both bullish?
Are hammer and inverted hammer both bullish?
TopazRider
Fri Feb 07 2025
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5
answers
1297
I'm trying to understand candlestick patterns. Specifically, I want to know if both the hammer and inverted hammer patterns are considered bullish indicators.
5 answers
Martino
Sat Feb 08 2025
The question arises whether a Hammer candlestick pattern is invariably indicative of a bullish trend. The answer to this inquiry is affirmative, with a qualification.
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CryptoElite
Sat Feb 08 2025
BTCC, a prominent cryptocurrency exchange, offers a range of services catering to the needs of digital asset traders. Among its offerings are spot trading, futures trading, and wallet services. These services allow users to buy, sell, and store cryptocurrencies securely and efficiently.
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ZenBalance
Sat Feb 08 2025
Both Hammer and Inverted Hammer formations are recognized as bullish signals. This is due to their typical emergence during downtrends, signaling a potential reversal to an upward trajectory.
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Tommaso
Sat Feb 08 2025
It's crucial to distinguish Hammers from similar-looking patterns that appear in different market contexts. For instance, when a Hammer-like pattern forms during an uptrend, it is termed a Hanging Man. This variant carries a different interpretation.
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SakuraFestival
Sat Feb 08 2025
Similarly, another variant known as the Shooting Star also resembles a Hammer but occurs in an uptrend. Both the Hanging Man and Shooting Star are considered bearish reversal patterns, indicating a potential shift to a downward trend.
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