CoinDCX, one of the largest crypto exchanges in India, launched a rather unique merchandise on its official X handle on Wednesday that made heads turn in the crypto community. The merchandise, a tumbler, had “harami”, a popular Hindi slur for sc*undrel, written over it.
Before the crypto community could go livid over CoinDCX for purportedly selling a merchandise that refers to them as “sc*undrels” its co-founder Sumit Gupta took to X to post a clarification that it’s not a swear word !
Gupta also advised fellow crypto lovers to do their research regarding “harami candles” before forming an opinion on their exchange’s merchandise. So we did our research and deciphered the “harami-pun” for our readers.
Understanding Harami Candles
Although it sounds like a slur in hindi, the word “Harami” in Japanese language stands for “pregnant”. In trading terms, it is used to describe a unique candlestick pattern between two candles where the first one is usually long while the second candle has a small body, representing a pregnant belly-like structure thus called ‘Harami Candles.’
Traders typically combine other technical indicators with harami candles, which either goes bullish harami or bearish harami.
Bullish Harami: A bullish harami pattern appears during a downtrend, when a small green candle forms completely within the body of the previous larger red candle. It indicates a potential bullish reversal, suggesting that selling pressure may be weakening.
Bearish Harami: A bearish harami pattern appears during an uptrend, when a small red candle forms completely within the body of the previous larger green candle. It indicates a potential bearish reversal, suggesting that buying momentum may be fading.
Both these patterns are widely used by traders in their trading setups in conjunction with other key indicators. However, harami patterns are not always accurate, but studies have found that they have nearly a 53% success rate.
Also Read: Sumit Gupta Shares CoinDCX March 2025 Transparency Report
