Nison Candle Software identified Morning Star on BTCUSD daily (I use Hotforex chart) along with Bullish Harami and Bulish engulfing. Now Kumo cloud resistance is pushing price to the Fib support and lower BB band or red Tenkan sen might hold it as well. From there it will shoot to the bullish kumo cloud as it did previously.
Morning Stars on BTCUSD were detected in Sept 2017 before massive bullish rally and in July 2018 prior to July bullish rally. Current Morning Star is likely a herald of Christmas bullish rally (as it was last year) as we also hit 1 year Gann cycle now too (price moves in 1, 5, 10 years cycles).
BTC is likely to become the currency of the future, just as credit and debit cards replaced the paper money. The next stage will be digital currency and BTC value is only to rise, it might reach a million USD per coin, as it is a limited commodity (only 21 millions coins can be produced).
Morning Star Important Results
Theoretical performance: Bullish reversal
Tested performance: Bullish reversal 78% of the time
Frequency rank: 66
Overall performance rank: 12
Best percentage meeting price target: 49% (bear market, up breakout)
Best average move in 10 days: -8.53% (bear market, down breakout)
Best 10-day performance rank: 3 (bear market, down breakout)
Candlestick guru T. Bulkowski on Morning Stars - The morning star candles is one of my favorites. It acts as a bullish reversal frequently enough that I consider it reliable. The frequency rank of 66 is high enough that you can find examples of the candlestick after a determined search, and the overall performance rank is near the top of the list. That means the trend after the breakout is often a profitable one.
Morning Stars on BTCUSD were detected in Sept 2017 before massive bullish rally and in July 2018 prior to July bullish rally. Current Morning Star is likely a herald of Christmas bullish rally (as it was last year) as we also hit 1 year Gann cycle now too (price moves in 1, 5, 10 years cycles).
BTC is likely to become the currency of the future, just as credit and debit cards replaced the paper money. The next stage will be digital currency and BTC value is only to rise, it might reach a million USD per coin, as it is a limited commodity (only 21 millions coins can be produced).
Morning Star Important Results
Theoretical performance: Bullish reversal
Tested performance: Bullish reversal 78% of the time
Frequency rank: 66
Overall performance rank: 12
Best percentage meeting price target: 49% (bear market, up breakout)
Best average move in 10 days: -8.53% (bear market, down breakout)
Best 10-day performance rank: 3 (bear market, down breakout)
Candlestick guru T. Bulkowski on Morning Stars - The morning star candles is one of my favorites. It acts as a bullish reversal frequently enough that I consider it reliable. The frequency rank of 66 is high enough that you can find examples of the candlestick after a determined search, and the overall performance rank is near the top of the list. That means the trend after the breakout is often a profitable one.