This candlestick, highlighted in the red circle, is a long upper wick candle (sometimes referred to as an "inverted hammer" or "shooting star," depending on its context). Here's what it typically signifies:
1. Long Upper Wick:
The price went significantly higher during the 15-minute timeframe but could not sustain that level.
Sellers eventually overpowered buyers, pushing the price down.
2. Bearish Sentiment:
If this appears after an upward move, it often signals potential reversal or selling pressure.
It suggests that buyers tried to push prices up but failed to maintain control.
3. Volume Confirmation:
The volume at the bottom indicates relatively higher trading activity, adding weight to the price rejection.
Trading Implication:
If this candle appears at resistance levels or after a strong uptrend, it could indicate a possible reversal.
However, confirm with additional indicators like RSI, MACD, or volume trends before acting.