#BTC

3 Month candlestick pattern

What Is a Hanging Man Pattern?

The hanging man candlestick chart pattern is characterised by a small body near the top of the candlestick, a long lower shadow, and little to no upper shadow. This pattern resembles a figure hanging from its head, hence the name "Hanging Man." The formation suggests that buyers, who have been in control during the uptrend, are losing their strength and that selling pressure is increasing. It indicates a potential shift from bullish to bearish sentiment.