Baby Doge Coin (CRYPTO: BABYDOGE) celebrated its first birthday on Wednesday but didn’t offer its traders and investors any party favors, closing the 24-hour trading session lower.
The crypto has seen increased volatility over the past few days after breaking up bullishly from a triangle pattern on the daily chart on Monday, and on Thursday Baby Doge Coin was consolidating with an inside bar pattern.
An inside bar is usually followed by a continuation move in the direction of the current trend.
An inside bar pattern has more validity on larger time frames (four-hour chart or larger). The pattern has a minimum of two candlesticks and consists of a mother bar (the first candlestick in the pattern) followed by one or more subsequent candles. The subsequent candle(s) must be completely inside the range of the mother bar and each is called an inside bar.
A double, or triple inside bar can be more powerful than a single inside bar. After the break of an …
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