Bulkowski on the 'shooting star':
Quote
Day traders that I know depend on the shooting star more often than I think they should, but my statistics are based on the daily charts, not intra day ones. I found that the shooting star candle acts as a bearish reversal 59% of the time. I consider that "near random" performance.
http://thepatternsite.com/ShootingStar.html
But that's his result for traditional markets. Possible that in BTC, shooting star is a better predictor.
This is not bearish reversal, though, as we didnt leave bear market in the first place. It could be merely continuation signal for existing trend.
