Ethereum Classic (CRYPTO: ETC) was plummeting about 15% lower on Wednesday after soaring about 116% higher between March 14 and Tuesday. The fall shouldn’t concern bullish traders because Ethereum Classic has developed an inside bar pattern on the daily chart. An inside bar pattern indicates a period of consolidation and 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."
