ONE OF THE TOP 98.89% CANDLESTICKS! WORKING EVERY SINGLE TIME!
If you find yourself seeing this type of candlestick, then, you've found a gold.
There are many candlesticks that prove to be successful but still have high chances to fail without proper confirmation. As for this altcoin, this is considered to be a strong indicator for reversals due to these simple reasons. Morning and evening star indicates the intention of buyers and sellers to fight for supremacy of a particular asset. The fact that the buyers have strong interest at the depths of the market to get discounted prices and the sellers have strong interest to take another least possible price. Just shows how the morning star is formed, vice versa with an evening star.
Let's take #MAVIA as an example.
MAVIA has shown a morning star candlestick at a weekly timeframe. Most of the time, longer timeframes' candlestick patterns shows strong indication of the price actions an altcoin will take. Looking at the morning star of MAVIA, we can see that the selling pressure has declined and buying pressure is being accumulated. This explains why there is a thin candlestick that forms a cross/star formation. Due to the fact that the buyers and sellers are fighting for the same price level.
Gaining insights as to how the crypto market will move just shows how important it is in order to check the next price action of an altcoin.
Stay wise, trade cautiously.
