Do you want to start trading?
If you want to trade crypto on a global platform like Binance, the most essential thing you need to know is the understanding of candlestick charts.
What is a candlestick chart?
It is a chart that visually shows us the price movement (Price Action) in the market. Each candle tells us where the price started, where it went, and where it closed in a specific time frame (1 minute, 5 minutes, 1 hour, or 1 day).
Four main components of each candle:
Open: The opening price of this period
Close: The closing price of this period
High: The highest price of this period
Low: The lowest price of this period
Candle Color:
Green Candle (Bullish): If the price is higher at close than at open (i.e., the market went up)
Red Candle (Bearish): If the price is below the close (i.e., the market went down)
Why is it important on Binance?
Millions of traders on Binance make their buying and selling decisions by looking at this candle chart. Whether you want to trade short-term or long-term, recognizing candle patterns (like Doji, Hammer, Engulfing) can keep you at an advantage.
Finally, a simple example:
If you see that three consecutive green candles have formed and each new candle closed above the previous one, this could be a sign of bullish momentum in the market.
Do you also want to start trading on Binance?
So first learn to read charts – and start with "Candlestick"!
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