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How to read cryptocurrency charts?
Step by step for beginners!
📊🔍
1️⃣ What are charts?
They are a visual representation of the price movement of a cryptocurrency over a specific period of time.
Simply put, they show you if the price has gone up or down.
2️⃣ Common types of charts:
Line Chart: Connects the closing price to a single point, simple and clear.
Candlestick Chart: The most commonly used, shows the opening price, closing price, highest, and lowest for each period.
🕯️📈
3️⃣ How do you read a candlestick?
The large body (middle) shows the difference between the opening and closing price.
If the candlestick is green (or white), the price went up during the period.
If it is red (or black), the price went down.
The upper and lower lines (shadow) represent the highest and lowest price.
4️⃣ Important indicators:
Volume: Shows the strength or weakness of the price movement.
Moving Average: Gives the overall price trend over a specified period.
Why is it important to know these basics?
To be able to make smarter buying or selling decisions, and to better understand market movements.
🧠💡
#Learn_Charts #Technical_Analysis #Crypto_for_Beginners #Binance_Education #الشموع_اليابانية
Step by step for beginners!
📊🔍
1️⃣ What are charts?
They are a visual representation of the price movement of a cryptocurrency over a specific period of time.
Simply put, they show you if the price has gone up or down.
2️⃣ Common types of charts:
Line Chart: Connects the closing price to a single point, simple and clear.
Candlestick Chart: The most commonly used, shows the opening price, closing price, highest, and lowest for each period.
🕯️📈
3️⃣ How do you read a candlestick?
The large body (middle) shows the difference between the opening and closing price.
If the candlestick is green (or white), the price went up during the period.
If it is red (or black), the price went down.
The upper and lower lines (shadow) represent the highest and lowest price.
4️⃣ Important indicators:
Volume: Shows the strength or weakness of the price movement.
Moving Average: Gives the overall price trend over a specified period.
Why is it important to know these basics?
To be able to make smarter buying or selling decisions, and to better understand market movements.
🧠💡
#Learn_Charts #Technical_Analysis #Crypto_for_Beginners #Binance_Education #الشموع_اليابانية
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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