⛔️ Many of you might not understand what daily, weekly, and monthly closes mean 👀👀
🔽🔼 The determination of daily, weekly, and monthly closes in financial markets (such as cryptocurrencies or stocks or forex) is based on the timing of the platform or market you are trading on.
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✅ First: Daily Close
Timing: End of each trading day (usually at 00:00 according to the platform or market).
Usage: For analyzing daily candlesticks and identifying daily trends.
Example: If today’s candle closes at a price of 25.00, this is the daily close for that day.
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✅ Second: Weekly Close
Timing: End of the trading week, i.e., after the close of the Sunday or Friday candle (depending on the market).
In cryptocurrencies: The weekly close is on Sunday night at 00:00 UTC.
In stocks and forex: Often on Friday night after the market closes.
Usage: Used to analyze trends in the medium term and to know the strength or weakness of the market during the week.
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✅ Third: Monthly Close
Timing: At the end of the last day of each month (31 or 30 or 28 depending on the month).
In cryptocurrencies: The monthly close is at 00:00 UTC on the first day of the new month.
Usage: For analyzing the long-term general trend and seeing how the market performed during the month.
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🔍 Practical Examples:
Type of close in cryptocurrencies (according to UTC time)
Daily every day at 00:00
Weekly on Sunday night at 00:00 (beginning of Monday)
Monthly last day of the month at 00:00
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❓ Important Notes:
Technical indicators like RSI and MACD rely on daily or weekly candle closes.
The most important closes for investors: weekly and monthly, as they determine major trends.
☄️⚡️ You can use sites like:
TradingView:
Clearly shows you the closes according to the time frame.
CoinMarketCap or Binance:
Allows monitoring candlesticks at different intervals.
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