What is a spinning top in TA? Learn how that works with crypto trading.
If you want to make Killer Whale cry tears of joy this is how you do it. A Spinning Top Candle involves a single candle indicating uncertainty in the market. The candlestick itself is defined by a short body surrounded by long wicks (approximately the same length) on either side. The Spinning Top can be either bullish or bearish at the candle close. This candlestick pattern is often located within an uptrend, downtrend and/or consolidation. Now while Spinning Top Candles often signal a Trend Reversal this particular Spinning Top candle that I posted about the other day on BTC was a Bullish Spinning Top Candle at Major Resistance (bubble on the bottom left). Now yesterdays Bullish Spinning Top Candle (bubble on the top right) is actually quite amazing for the fact that even in a moment of indecision at the local top of major psychological resistance ($18k).... the bulls were strong enough to push the indecision to the upside thus leading to todays price action! Wow