๐ 1. What Is a Crypto Chart?
A crypto chart is a visual representation of a cryptocurrency's price movements over time. These charts help traders and investors analyze trends, identify patterns, and make informed decisions.
๐ 2. Types of Crypto Charts
โ Line Chart
Simple and clean.
Connects closing prices over a time frame.
Good for beginners to see general trends.
โ Candlestick Chart (Most popular)
Shows open, high, low, and close (OHLC) prices for a set time period.
More detailed and used by technical analysts.
๐ฏ 3. How to Read Candlestick Charts
Each candle has:
Body: Difference between open and close.
Green (or white) = price went up (close > open).
Red (or black) = price went down (close < open).
Wicks (shadows): Highest and lowest prices during the period.
Timeframe: Can range from 1 minute to 1 month per candle.
Example:
A 1-hour candle = price movement during one hour.