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Do you know this project? 🛡️ Do you know the founder? ⬛ Are you involved? 🎭 I think it would be a great project.💥 #soniCash 😎
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💥 EDUCATIONAL 💥 The "Shooting Star" candlestick formation is one of the Japanese candlestick patterns that signals a potential bearish reversal. Its appearance on the chart usually marks an important resistance level or the moment when the uptrend changes to a downtrend. Since a shooting star consists of only one candle, identifying it on the chart is quite easy: you just need to check it for several criteria. If all the criteria coincide, then the formation is real, and the probability of a price drop will increase significantly. Characteristics of the "Shooting Star": Firstly, it is worth noting that before the formation of the figure there should be growth, at least short-term in a few candles. Then, if the candle meets all the above criteria, we refer it to the Shooting Star and make the appropriate conclusions: -the opening of the candle occurred with an upward gap. -The candle body is relatively short (visually it should look like a square). -The upper shadow of the candle is at least 2 times longer than the body. -the lower shadow is either absent or does not exceed half the height of the body. -colour of the candle does not matter. Be sure to wait for a confirmation candle. $BTC $ETH $SOL
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