The spinning top is very similar to Doji.
Apart from a bigger body, everything else is quite the same. Its primary meaning is indecision.
As you can see, there are two types of spinning tops.
While, most of you will think that red one is bearish, while the green one is bullish, it is not quite like that.
Its meaning gets from the position it forms.
If it appears in an uptrend, because of indecision that it brings, we have a bearish sign.
On the other side, if it forms in a downtrend, it is a bullish sign.
The color of the spinning top is less important.
What is important is the shape it creates and also where it creates.
It is better to see green candlestick in a downtrend because it will be an even stronger bullish sign, but one more time, the shape and position where it creates is what plays main role, not the color.
If it forms in a sideways market, it is almost useless because by default sideways market is one big indecision period and one spinning top will make it indecisive even more.No HTML was returned.
Milos is an independent trader, with a background in journalism and publishing. Nomadic by nature, he’s lived in four different countries this decade. He’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives. Milos got into Bitcoin while completing his degree and hasn’t looked back since, writing about anything crypto-related. He is the co-founder of the Cryptoaims and he has a strong passion to educate people about this revolutionary technology.