Understanding Charts and Candles on Binance: A Quick Guide for Beginners!
When you trade on Binance, you'll see charts that look like roller coasters, but they actually show you how the price of a cryptocurrency changes over time. They are your market map!
Within these charts, you'll notice some "bars" called candles. Each candle represents what happened to the price over a period of time (for example, 1 minute, 1 hour, or 1 day).
Green Candles (or white/hollow, depending on your settings): The price went up!
They indicate that the price of the cryptocurrency increased during that period.
The bottom part of the candle is the opening price and the top part is the closing price.
The "shadows" (thin lines above or below) show you the highest and lowest price reached during that time.
Red Candles (or black/filled, depending on your settings): The price went down!
They indicate that the price of the cryptocurrency decreased during that period.
The top part of the candle is the opening price and the bottom part is the closing price.
Just like the green ones, the shadows show the highest and lowest price.
In summary: Green = Up, Red = Down.
By understanding the candles, you can start to decipher market movements and make more informed decisions in your trades!