Earlier this week, Bitcoin erupted from $7,700 to $9,500 within the span of just around 24 hours. It was a move that allowed the cryptocurrency to print an extremely strong monthly performance that ended with a bullish engulfing candle. While many took the candle as a decisively positive sign, one trader called this sentiment into question, noting that the bullish engulfing candle is a big misnomer. Technician Thomas Bulkowski wrote himself that bullish engulfing candlesticks […]
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