Three black crows.

Very bearish candlesticks formation!

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the more i observe formations played in BTCUSD (especially in case of small timeframes like 1h, 4h), they statistically give false signals.

like this double top formation:

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To play the above formation entry should be now @9300 with short position with target around 7000 but sl above 11800. Thats ridiculous risk/reward ratio. I start to think that stoplosses @ around 12000 will be soon activated by an unexpected wave.

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current situation - trend looks for now like bearish, but for me that double top formation is too risky to get short with so wide SL (@12000)

and longs for now, where there is no bull market for now are even much risky

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{image]

bearish engulfing candlesticks pattern @Weekly chart

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bulls are here in trouble