The Bitcoin scheme appears back to the back of the weekly hammer candles, and it has never been unprecedented in a few times in the history of BTC

The past few weeks have been very volatile for Bitcoin (BTC), with the opposite of the price procedure, sharp fluctuations. In the past two weeks, Bitcoin has been traded in an open candlestick pattern of low -time candlestick with two percentage differences.

The week, which starts on February 24, saw Bitcoin drop to the lowest level in 78167 dollars and climb to an increase of 96,515 dollars, which is a 23 % swing. The following week, starting from March 3, has recorded a decrease of $ 81,444 and a rise of 94,415 dollars, which represents a 16 % swing.

These large candlestick compositions are known as hammer candles, as determined by analysts, where the lower or upper wick constitutes 90 % of the total price range, leaving a small body with a long tail.

CheckMate analysis shows that Bitcoin has formed a weekly hammer candle with 90 % less five times less in its history. These cases occurred during the 2017 bull race, in late 2021 in the Taurus market near $ 69,000, twice in 2023 – follow -up of the Silicon Valley Bank crisis and again after the summer shrinkage – and once in 2024, during the summer period.

Although the data does not show a clear pattern in the Bitcoin cycle, the 2017 bull market correction shows, indicating that these configurations can indicate critical turning points in price trends. Relationship: Parts of this article were created with the help of artificial intelligence tools and reviewed by our editorial team to ensure accuracy and adhere to our standards. For more information, see the fully intelligent coinsk policy.