What is a Shooting Star Candlestick in Bitcoin Trading?

What Does Shooting Star Candle Mean? Shooting Star Candlestick Definition

Shooting Star candlesticks setup is a bearish reversal candle pattern. It occurs at tops of a trend.

Shooting Star candlesticks setup occurs at the top of an up bitcoin trend where the open bitcoin price is same as the low & bitcoin price then rallied upward but was pushed back down to close at near the open.

What is a Shooting Star Candlestick in Crypto Trading? - Shooting Star Candle Pattern

Crypto Candlesticks Pattern

A sell is completed when a candle closes below the neck-line, this is opening of the candle to the left side of the pattern. The neck line in this instance is a support level.

Stop orders for the sell cryptocurrency trade transactions should be set just a few pips above the highest bitcoin price on the recent high.

The Shooting Star candle-sticks setup is named so because at the top of an up-ward market bitcoin trend this cryptocurrency candle pattern looks like a shooting star up in the sky.

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