What is a Bullish Belt Hold pattern?
A Bullish Belt Hold is a type of candlestick pattern that is formed after successive bearish candles or after a reversal of the prevailing subdued trend. The pattern is formed after successive bearish candles in which the opening price becomes the lowest point of the day, and should also be lower than the previous day's closing price. The underlying securities, which could be a stock or an index, witnesses buying throughout the trading sessions. When that type of trading happens, the index/stock is taken higher, resulting in a long white or a green candle with small upper shadow and no lower shadow.