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RE: BITCOIN (BTC) Update: Wave IV Projection Mathematics
There is also a large bearish engulfing candle that just closed on the daily chart.
There is also a large bearish engulfing candle that just closed on the daily chart.
I believe a bearish engulfing candle needs the red body to overencompass the prior green body.
Nah, that's just small technicality. The important thing is that the engulfing bar is much larger than the previous bar, and that is closes near the lows, which this one has - sort of.
Ehh, I disagree. Thought I'm not an expert in Japanese Candles, it hasn't worked very well for me.
I think it needs to look like this:
How is this possible in crypto markets that are open 24/7? The upper body edge should align.