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The Morning Star is a combination bullish reversal candlestick pattern among the 12 Golden K, and in some cases, it is regarded as a signal that a downtrend is about to correct or end.
The Morning Star has high requirements for structure. The most perfect scenario is formed by a combination of 3 candlesticks:
①: The first candle is a bearish candle with a relatively long body.
②: There are no strict requirements for the second candlestick to be either a bearish or bullish line, but the body must be very short, not exceeding half of the body of the first bullish line.
③: The third candle is a bullish candle, and the body must exceed more than half of the body of the first bearish candle. The longer the body of the bullish candle, the greater the effect.
The morning star also has a deformable structure, as shown in the figure. However, the essence remains unchanged; the body of the third bullish candlestick must exceed at least half of the body of the preceding bearish candlestick.
🎈Note:
1. Appearing at the bottom of a downtrend can be seen as a signal that the trend is about to reverse or end.
2. After the appearance of a morning star, there is likely to be a consolidation period, and those who are trapped should avoid cutting losses. $BTC