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Identifying Bearish Candlestick Reversal Patterns in BTCUSD Trading

Reversal Formations on BTCUSD Charts: Identifying Bearish Cryptocurrency Candlestick Structures

The Shooting Star pattern on BTC/USD charts is a bearish reversal signal. You'll spot it at the top of an uptrend.

The Shooting Star Bitcoin Candle Pattern occurs at the peak of an upward Bitcoin trend. In this pattern, the opening price matches the low, and although the price rallies upward, it closes near the opening level.

Reversal Candle Bitcoin Chart Setups: Bearish Candlestick Patterns

Shooting Star Candle Pattern Reversal Candle-stick Bitcoin Chart Setups: Bearish Candle Pattern Setups

Analysis of Candlestick Formations for Bitcoin Crypto Currency, Specifically the Shooting Star

A sell is confirmed when a candlestick closes below the neck-line of this shooting star candlestick pattern, this is the opening of the candle to the left side of this candle pattern. The neckline in this case is a support zone.

Stop-loss orders for sell trades should ideally be positioned slightly above the recent Bitcoin price highs for risk management.

The Shooting Star candle is named so because at the top of an upward cryptocurrency market trend this cryptocurrency candle pattern looks like a shooting star up high in the sky.

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