{"id":417303,"date":"2020-03-07T17:17:30","date_gmt":"2020-03-07T17:17:30","guid":{"rendered":"https:\/\/uniquehot.com\/?p=417303"},"modified":"2024-06-11T13:43:01","modified_gmt":"2024-06-11T13:43:01","slug":"bitcoin-just-printed-darth-maul-candle-9000-heres-what-means-price","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-just-printed-darth-maul-candle-9000-heres-what-means-price\/","title":{"rendered":"Bitcoin Just Printed a “Darth Maul” Candle at $9,000: Here’s What It Means For BTC"},"content":{"rendered":"

If you’ve been following the Bitcoin market over the past 30 minutes, you’ve likely noticed the odd bout of price action depicted below \u2014 Bitcoin<\/a> spiked 1% in a few minutes to only crash by 3% in three minutes, then continue lower and lower as if there was no support under BTC.<\/p>\n

<\/p>\n

As many on Twitter explained, the candles that came from this price action look exactly like the lightsaber of Darth Maul, which has blades protruding from each side.<\/p>\n

Jokes aside, analysts say that the existence of a so-called “Darth Maul” candle is bearish for BTC. Here’s why.<\/p>\n

Bitcoin Could Continue Lower, Darth Maul Candle Suggests<\/h2>\n

Commenting on the extreme price action \u2014 which some have chalked up to the low liquidity on the weekends and the existence of margin trading \u2014 trader Byzantine General expressed bearishness.<\/p>\n

He wrote in a message published to his Telegram channel<\/a> that when the brief surge to $9,200 took place, it was on “high volume,” implying the subsequent failure and reversal was a bearish sign. Explaining the concept further, Byzantine General said:<\/p>\n

“When darth mauls go up first, then down, they are usually bearish and continue to bleed.”<\/p><\/blockquote>\n

Trader Coiner-Yadox also expressed bearishness amidst the Darth Maul candle. He explained that from how he saw it, there was a clear confluence of resistance around $9,300 \u2014 the descending trendline, February open, a pool of liquidity, a four-hour supporter, and a daily breaker \u2014 suggesting that any move into that region would be begging for a reversal.<\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
If you’ve been following the Bitcoin market over the past 30 minutes, you’ve likely noticed the odd bout of price action depicted below \u2014 Bitcoin spiked 1% in a few minutes to only crash by 3% in three minutes, then continue lower and lower as if there was no support under BTC. As many on Twitter explained, the candles that came from this price action look exactly like the lightsaber of Darth Maul, which has blades protruding from each side. Jokes aside, analysts say that the existence of a so-called “Darth Maul” candle is bearish for BTC. Here’s why. Bitcoin Could Continue Lower, Darth Maul Candle Suggests Commenting on the extreme price action \u2014 which some have chalked up to the low liquidity on the weekends and the existence of margin trading \u2014 trader Byzantine General expressed bearishness. He wrote in a message published to his Telegram channel that when the brief surge to $9,200 took place, it was on “high volume,” implying the subsequent failure and reversal was a bearish sign. Explaining the concept further, Byzantine General said: “When darth mauls go up first, then down, they are usually bearish and continue to bleed.” Trader Coiner-Yadox also expressed bearishness amidst the Darth Maul candle. He explained that from how he saw it, there was a clear confluence of resistance around $9,300 \u2014 the descending trendline, February open, a pool of liquidity, a four-hour supporter, and a daily breaker \u2014 suggesting that any move into that region would be begging for a reversal. Featured image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":417304,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[67772,679,73321,4078],"class_list":["post-417303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-67772","tag-bitcoin-price","tag-darth-maul","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Just Printed a "Darth Maul" Candle at $9,000: Here's What It Means For BTC<\/title>\n<meta name=\"description\" content=\"If you've been following the Bitcoin market over the past 30 minutes, you've likely noticed the odd bout of price action depicted below \u2014 Bitcoin spiked\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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