How Do I Read Shooting Star Cryptocurrency Candle Pattern Bullish or Bearish?

Shooting Star candles pattern is a bearish reversal candlestick pattern. It occurs at tops of a market trend.

Shooting Star cryptocurrency candle sticks pattern occurs at top of an upward bitcoin trend where the open bitcoin price is same as the low & bitcoin price then rallied up but was pushed back downward to close near the open.

How Do You Read Shooting Star Crypto Candle Pattern Bullish or Bearish?

Technical Analysis of Shooting Star BTCUSD Candle Pattern

A bearish reversal sell is completed when a candle stick closes below neck-line, this is the opening of the candlestick on the left side of this shooting star pattern. The neckline in this case is a support level.

Stop orders for the sell cryptocurrency trades should be placed a few pips above the highest bitcoin trading price on the recent high once a trader decides to open trades based on this shooting star candles pattern. The Shooting Star cryptocurrency candlesticks pattern is named so because at the top of an upward bitcoin market trend this cryptocurrency candle pattern resembles a shooting star up in the sky.