📌 Educational Post: The Top 3 Terms You Should Know as a Beginner on Binance!
If you're new to Binance and feeling confused by the terminology, don't worry! Here's a simplified explanation of the most common words you'll encounter:
1️⃣ Time Frame:
This is the duration that the chart displays. For example:
1m = Each candle represents a minute
1h = Each candle represents an hour
1d = Each candle represents a day
The larger the time frame, the more accurate the analysis.
2️⃣ Chart:
The graphical representation that shows the price movement of the currency. It allows you to track the ups and downs and make buying and selling decisions based on trend analysis.
3️⃣ Candlesticks:
This is a form that appears on the chart. Each candle represents the price movement during a specific time period.
Green candle = Price has increased
Red candle = Price has decreased
The length of the candle helps you understand the strength of the movement.
📌 Tip: Don’t rush into trading without learning these basics!
🔁 Stay tuned for upcoming posts where we will explain more terms: like P2P, market, Spot, Limit, and more...
📍 Is there a term you encountered that you didn’t understand? Write it in the comments and I will explain it to you in the upcoming posts! 😉
