🧘‍♂️Prepare for Battle

Become the Ultimate Crypto Hero

Dear Meditators

Welcome to Part 2 of our 4 Part Candlestick Patterns Course. 

Today, we explore Bullish Reversal Patterns.

Read, enjoy and share with your network. Let’s all build wealth together.


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Welcome to Part 2 of our Candlestick Patterns Course. 

GOAL: Start identifying Bullish Reversal Patterns
SKILL: Intermediate
EFFORT: 5-10 mins to get started with each pattern
REWARD: Potentially unlimited upside if you can master a pattern

Missed Part 1? No Problem. Check it out here first 👉 Candlesticks 101

Part 2 today will focus on Bullish Reversal Patterns. 

💥 To receive Part 3 (Bearish Reversal Patterns) tomorrow, make sure you’re on our free email list👇

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The Chart is a Battlefield 

Let’s recall our battle analogy from Part 1:

  • Candlestick charts show two armies waging war. 

  • The bodies of the white candles represent the bull army and the bodies of the purple candles represent the bear army. 

  • The chart represents the battlefield. 

  • Both armies are trying to get into each other’s territory. 

  • Wicks show failed attempts to get into army territory. 

Remember, if you’d like for Koroush to guide you through this analogy on video, click this link.

Today, we are going to look at examples of Bullish Reversal Patterns. Or, in other words, situations where the bull army is getting ahead of the battle. 

⛔️ Before we proceed, a word of caution. Candlestick patterns in isolation are not a buy or sell signal. Consider them a way to look at market structure and an indication of potential upcoming opportunities. And so, it is essential to look at patterns in context and combined with other tools such as Moving Averages, Fibonacci Retracement or Volume and Open Interest.

4 Bullish Reversal Patterns

🔍 HOW TO IDENTIFY A HAMMER: A candlestick with a long lower wick at the bottom of a downtrend, where the lower wick is at least twice the size of the body (if you don’t follow the terminology, you’ll need to return to Part 1 of our Course). 

⚔️ WHAT IT MEANS IN BATTLE: A hammer shows strength from the bull army. The long wick indicates several defeated bears and is significant given the bears were winning the battle up until then. Note a white hammer indicates that the bull army is beating the bear army in battle. A purple hammer indicates the opposite, that the bear army is beating the bull army.

🔍 HOW TO IDENTIFY AN INVERTED HAMMER: Also known as the inverse hammer. Scrolling up and comparing with the hammer: they are not so different, except the long wick is above the body rather than below. Same as the hammer, the upper wick should be at least twice the size of the body.

⚔️ WHAT IT MEANS IN BATTLE: An inverted hammer occurs at the bottom of a downtrend and may indicate a potential reversal upwards. In other words, the tides are turning in favour of the bull army. The upper wick shows that price stopped its continued downward movement, even though the seller eventually managed to drive it down near the open. The bullish army might soon gain control of the market.

🔍 HOW TO IDENTIFY THREE WHITE SOLDIERS: The three white soldiers are made of three consecutive white candlesticks that all open within the previous candle’s body and, importantly, close at a level exceeding the previous candle high.

⚔️ WHAT IT MEANS IN BATTLE: The soldiers are strong defenders of the bull army, working hard to create a possible retracement. The strongest soldiers won’t have long lower wicks, indicating that continuous buying pressure is driving the price up. For remember, wicks show failed attempts to get into enemy territory. 

🔍 HOW TO IDENTIFY A BULLISH HARAMI: A bullish harami is a long purple candle followed by a smaller white candle that’s contained within the body of the previous candle.

⚔️ WHAT IT MEANS IN BATTLE: An indication that the bearish army may be losing power. Selling momentum may be slowing down and might even be coming to an end. The bullish harami can unfold over two or more days.

Concluding Remarks 

And thus concludes Part 2 on Candlestick Patterns Guide. This article should have provided a high level overview of Bullish Reversal Patterns and how to get started with interpreting them. Actions you can take until Part 3 tomorrow: 

  • Make sure you have a solid understanding of Part 1: Candlesticks 101

  • Begin to look at charts and patterns using the battle analogy we have guided you through today. 

  • Don’t worry about drawing these charts out or saving the images, we’ll share a PDF Cheat Sheet with all patterns discussed in the course on Friday.

💥 If you’re serious about building wealth through crypto and want to receive Part 3, be sure to join 24,000+ others in the Market Meditations community 👇

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🟪 Blockchain Animation Film 

During times of unprecedented FUD in the crypto industry as we’ve seen this past week, it can be difficult to remember that there has been a lot of good that has come from the public attention and mainstream adoption of blockchain technology and cryptocurrency. 

One such positive thing is this announcement that Dan Harmon, the famous Emmy-winning writer of TV shows such as Rick and Morty and Community, has decided to create “the first ever animated series curated entirely on the Blockchain” entitled Krapopolis with the Fox network. Let’s look at details.

Krapopolis will be an animated comedy that takes place in mythical ancient Greece “centred on a flawed family of humans, gods and monsters that tries to run one of the world’s first cities without killing each other.” 

The interesting development, however, is that Fox will use this film to launch their new NFT company, Blockchain Creative Labs. Fox stated that it will “curate and sell digital goods, ranging from NFTs of one-of-a-kind characters and background art and GIFs, as well as tokens that provide exclusive social experiences to engage and reward super fans.” 

It appears that this initiative is one of the first to bridge the gap between art and technology to create a more comprehensive and engaging experience for fans.

🟣 This story is a good reminder that whilst the FUD can impact the markets especially in the short term, there are meaningful projects in the industry that continue to be developed in the space that are almost entirely detached from price

We’ve spoken before about how short term price is often not reflective of long term potential and fundamentals and this is a good example. Now it’s noteworthy that short and long term is relative and we can still enter a bear market wherein some of the enthusiasm will fade before price catches up to fundamentals, but right now the mainstream adoption of blockchain and cryptocurrency from entertainment to social media to athletics continues to prove itself strong.

🔹 Bear-y Low Bitcoin

Bitcoin hit a 3.5 month low around 6pm BST yesterday with a 35% drop from the high it reached on April 14th. But do you know the exact value of the low? Is it...

  1. $42,212

  2. $41,212

  3. $42,121

How to Protect Bull Market Gains with Koroush AK


In this episode, we talk about earning yields in crypto, protecting your bull market gains whilst earning profits through the use of stablecoins and how to build an edge in DeFi.

a) $42,212

According to CoinDesk 20 data this low was $42,212 a level not seen since February 8th of this year!

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