Bitcoin has formed a concerning “Gravestone Doji” candle on its weekly chart. This candlestick pattern suggests potential bearish reversal in the market. The gravestone doji occurs when the open, close, and low of the candle are nearly the same, with a long upper shadow, resembling a tombstone. This indicates that buyers pushed the price up during the week, but sellers managed to bring it back down to close near the opening price. Traders are advised to monitor the market closely as this pattern could signal a shift in momentum towards a downward trend.
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