Dragonfly is a candlestick characterized by presenting the closing price equal to the opening, in addition to a long lower shadow and no upper shadow. It is formed when the opening and closing prices of the asset are the same. The lower long shadow suggests that there was an aggressive sell during the candlestick period, but as the price closed near the open, it shows that buyers were able to absorb the sell and push the price back up.

Bullish / Default