Cryptocurrency Q&A
Can a shooting star be bullish?
Can a shooting star be bullish?
HanbokGlamourQueenEleganceBloom
Wed Feb 05 2025
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I've been wondering if a shooting star, which is often seen as a bearish reversal pattern in technical analysis, could possibly indicate a bullish trend instead. Is such a scenario possible?
6 answers
JejuJoy
Fri Feb 07 2025
This particular candlestick pattern is characterized by a long upper wick and a small real body at the bottom, indicating potential selling pressure.
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CryptoGuru
Fri Feb 07 2025
Conversely, there is a variant of the Shooting Star Pattern known as the Inverted Hammer.
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Tommaso
Fri Feb 07 2025
The Inverted Hammer forms under different market conditions, specifically after a currency pair's prices have ceased their downward trend.
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Nicola
Fri Feb 07 2025
The question of whether a Shooting Star Candle is bullish or not deserves clarification.
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WhisperWindLight
Fri Feb 07 2025
This pattern suggests a potential reversal, with prices starting to rise instead of continue falling. It is thus considered a bullish signal.
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