#CryptoCharts101 $BNB Basics for Beginners.👇👇👇
Understanding crypto charts is a fundamental skill for any trader. Here are the basics:
* What do they show? Charts visualize the price movement of a cryptocurrency over time. You can see how the price has changed over minutes, hours, days, or even months.
* Types of charts:
* Line chart: The simplest. It shows only the closing price for a given period, connected by a line. Good for quickly reviewing trends.
* Candlestick chart: The most popular. Each "candle" shows the opening price, closing price, high and low price for the selected period.
* Green/White candle: The closing price is higher than the opening price (bull market).
* Red/Black candle: The closing price is lower than the opening price (bear market).
* Candlestick "body": The difference between the opening and closing prices.
* Wicks/Shadows: Shows the highest and lowest price reached during the period.
* Timeframes: You can switch between different time frames (e.g. 15-minute, 4-hour, daily) to see different perspectives on price action. Short time frames show short-term fluctuations, while long time frames show larger trends.
* Volume: Usually shown below the chart. Shows how much of a cryptocurrency has been traded during a given period. High volume often confirms the strength of a price movement.
Understanding these basics is the first step to technical analysis and making informed trading decisions.😎
