{"id":16456,"date":"2025-03-06T10:33:24","date_gmt":"2025-03-06T10:33:24","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=16456"},"modified":"2025-03-06T10:33:24","modified_gmt":"2025-03-06T10:33:24","slug":"bitcoin-chart-shows-back-to-back-weekly-hammer-candles-seen-only-a-handful-of-times-in-btc","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=16456","title":{"rendered":"Bitcoin Chart Shows Back to Back Weekly Hammer Candles, Seen Only a Handful Of Times in BTC"},"content":{"rendered":"<div>\n<p>The past few weeks have been highly volatile for bitcoin (BTC), with price action reflecting sharp swings. In the past two weeks bitcoin traded on an open-high, lower-close candlestick pattern with double-digit percentage differences. <\/p>\n<p>The week beginning Feb. 24 saw bitcoin drop to a low of $78,167 and climb to a high of $96,515, a 23% swing. The following week, starting Mar. 3, recorded a low of $81,444 and a high of $94,415, marking a 16% swing.<\/p>\n<p>These large candlestick formations are known as hammer candles, as defined by analyst <a href=\"https:\/\/x.com\/_Checkmatey_\/status\/1897478241763701096\" target=\"_blank\">Checkmate<\/a>, where the lower or upper wick makes up 90% of the total price range, leaving a small body with a long wick.<\/p>\n<p>Checkmate\u2019s analysis shows that Bitcoin has formed a weekly hammer candle with a 90% lower wick only five times in its history. These instances occurred during the 2017 bull run, the late 2021 bull market peak near $69,000, twice in 2023\u2014following the Silicon Valley Bank crisis and again after the summer downturn\u2014and once in 2024, also during a summer lull.<\/p>\n<p>While the data does not show a clear pattern in bitcoin\u2019s cycle, the 2017 bull market correction stands out, suggesting that such formations could signal critical turning points in price trends.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The past few weeks have been highly volatile for bitcoin (BTC), with price action reflecting sharp swings. In the past two weeks bitcoin traded on an open-high, lower-close candlestick pattern with double-digit percentage differences. The week beginning Feb. 24 saw bitcoin drop to a low of $78,167 and climb to a high of $96,515, a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-16456","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16456"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16456\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}