A Bullish Belt Hold is a single candlestick pattern that occurs in a downtrend. It opens on the low of the day, and then a rally begins during the day which eventually ends with a close near the high of the day, leaving a small shadow on top of the candle. The longer the body, the stronger the signal.
1. The market is characterized by a prevailing downtrend.
2. The market gaps down and opens at its low, and closes near to the high of the day.
3. A long green body forms that has no lower shadow.