Understanding candlestick charts is one of the essential skills for cryptocurrency traders!
This issue explains the 'Morning Star' candlestick pattern.
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The following is the BTC 15-minute chart.
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1) Two declines encountered the 'Morning Star,' leading to a rising market.
We can see that after the first 'Morning Star' (around 11 o'clock on December 10), a short-term operational market appeared.
Subsequently, after a wave of selling, when it hit the major support line, the 'Morning Star' pattern appeared again, followed by another rise.
The Star pattern is suitable for short-term high selling and low buying. If you need to judge the long-term trend, you need to combine it with large cycle candlesticks and major structural changes.
2) Ace Intelligent Analysis Buy/Sell Point Suggestions (4-hour chart)
3) Subsequent shape evolution, as shown in the figure below. According to the 'Time Symmetry Theory,' before December 28, #BTC will definitely complete the overall structure's change.
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⚠ Note: The above operational suggestions do not constitute investment advice, and no cryptocurrency is recommended. Please trade rationally within your ability!
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