In addition to the video I shared last week: While the weekly candle forming a shooting star pattern is, on its own, a notable short-term (a few weeks) indicator, its significance is better assessed in conjunction with RSI and volume. It formed near a resistance zone (365-day moving average and prior peak). Although the weekly RSI shows no divergence, a divergence is visible on the daily chart. Volume is above average and exceeds that of five to six prior candles, excluding the one immediately before. The only remaining signal is if this week’s close closes below the shooting star candle—then the bearish setup would be complete. Given that this is a weekly candle, the pattern could resolve within just one candle, as weekly movements are inherently slower. This is not investment advice. https://t.co/Kt7TRlS9Kf
0xscholesShare


Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.