Ciao Traders,
I would keep an eye on the weekly chart of BTC, it looks like a shooting star candle is forming on the weekly.
What is a shooting star candle?
The shooting star candlestick is a chart formation consisting of a candlestick with a small real body, and a large upper shadow. This pattern represents a potential reversal in an uptrend especially when followed by red candle. It is also one of the four reversal candle types in candle theory: morning, evening, doji, and shooting.
So this is not a short signal as yet but it may become in the near future, lets wait for the week close and next week candle, a pull back to moving average support can be on the way.
I would keep an eye on the weekly chart of BTC, it looks like a shooting star candle is forming on the weekly.
What is a shooting star candle?
The shooting star candlestick is a chart formation consisting of a candlestick with a small real body, and a large upper shadow. This pattern represents a potential reversal in an uptrend especially when followed by red candle. It is also one of the four reversal candle types in candle theory: morning, evening, doji, and shooting.
So this is not a short signal as yet but it may become in the near future, lets wait for the week close and next week candle, a pull back to moving average support can be on the way.
Trade active
I'm expecting a small bounce from 7kNote
Below trade as update on smaller timeframe:
Trade closed manually
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.