Is 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 the top of an up bitcoin trend where the open bitcoin price is same as the low & bitcoin price then rallied up but was pushed back down to close near the open.

Shooting Star Bearish Crypto Candles Pattern

Technical Analysis of Shooting Star Bitcoin Candlestick 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 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 cryptocurrency trading market trend this cryptocurrency candle pattern resembles a shooting star up in the sky.