Like I said before in my other post, everyone starts as a beginner and it's easy to get lost with so many key terms, so here are 4 more!
1. Simple Earn 🪙
Simple Earn is a feature on Binance that allows you to earn passive income on your crypto holdings by locking them in for a fixed term. This can either be flexible (allowing you to withdraw anytime) or locked for a set number of days, meaning you cannot access your funds until the term has ended.
2. Candlestick Chart 📊
A candlestick chart is a the common way to visualize the price movements of cryptocurrency. Each "candlestick" or "candle" represents a specific time period, such as 1 hour or 1 day, and shows four key price points:
Open: the price at the beginning of the period.
Close: the price at the end of the period.
High: the highest price reached during that period.
Low: the lowest price reached during that period.
3. Candles 📊
Each candlestick has two key parts:
The body (the thicker vertical part) shows the range between the open and close prices.
The wicks (the thin vertical lines above and below the body) show the highest and lowest prices during that time period.
If the candle is green, it means the price closed higher than it opened, indicating upward movement. If the candle is red, it means the price closed lower than it opened, indicating downward movement.
4. Bullish and Bearish Trends 📉📈
A bullish trend (when the market is rising) is represented by a series of green candles. Traders expect prices to continue rising. On the other hand, a bearish trend (when the market is falling) is represented by a series of red candles. Traders expect prices to continue falling.
Hope these terms help you in your journey to crypto! If you found this helpful, give me a like or share it with someone who might need it. If you want to learn more, follow me! I'll be posting more content for beginners.
Have a great day and stay safe!