Spinning Top
A spinning top is a candlestick with a small body and relatively equal upper and lower wicks. It shows indecision between buyers and sellers.
Understanding the Concept
Spinning tops are like dojis but with a visible body. They signal that the market is undecided. Neither side could establish control. On their own, they're neutral. But in context, they matter. After a strong trend, a spinning top suggests momentum is fading. Multiple spinning tops in a row indicate consolidation—a bigger move is building. Don't trade spinning tops in isolation. Use them to gauge market sentiment and wait for a decisive candle to show direction.
Real-World Example
Bitcoin's been rallying hard, then forms three spinning tops in a row at $45,000. Each day, price bounces around but goes nowhere. This consolidation ends with a big red candle—the rally's done.
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