According to Japanese candlestick analysis on the 1-hour timeframe (1H), Bitcoin has shown two patterns:
* **Ascending Pyramid Pattern:** Indicates hesitation in the upward trend.
* **Pyramid Cross Pattern:** Indicates hesitation in the overall trend and may be a precursor to a potential trend change.
**Trade Summary:**
* **15 Minutes Past Midnight:** Bitcoin recorded a bearish engulfing pattern, indicating selling pressure.
* **30 Minutes Later:** A bullish engulfing pattern has appeared, indicating buying pressure.
**Important Notes:**
* **Cross Pattern:** Considered a sign of a potential trend reversal if it appears after a clear trend.
* **Market Expectations:** Indicators suggest that Bitcoin may trade in a neutral range, with a balance between buying and selling pressures, which could lead to volatility.
* **Overbought Phase:** So far, Bitcoin has not reached the overbought phase, which is the stage where selling pressure increases.
Overall: The analysis indicates a state of uncertainty in the market, with conflicting signals. Traders should monitor the market closely in anticipation of sudden changes in direction.