What is a Shooting Star Candlestick in Bitcoin Trading?

What Does Shooting Star Candlestick Mean? Shooting Star Candle Definition

Shooting Star cryptocurrency candle sticks 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.

What's a Shooting Star Candlestick in Crypto Trading? - Shooting Star Crypto Candlestick Pattern

Crypto Candlesticks Pattern

A sell is completed when a candle stick closes below the neck-line, this is opening of the candlestick on the left side of this 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.

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