What are the key indicators of a morning star formation in the cryptocurrency market?

1 answers

• Rohit VishwakarmaOct 05, 2023 · 2 years ago
  The morning star formation is a powerful bullish reversal pattern in the cryptocurrency market. It consists of three candles: a long bearish candle, a small bullish or bearish candle, and a long bullish candle. Traders should look for this pattern after a downtrend, as it signals a potential trend reversal. The key indicators to watch for are the size and shape of the candles. The first candle should be a long bearish candle, indicating a strong selling pressure. The second candle should be a small candle, indicating indecision in the market. The third candle should be a long bullish candle, indicating a strong buying pressure. Traders should also consider other technical indicators and price action to confirm the validity of the pattern before making any trading decisions.
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