#CryptoCharts101 Detailed explanation of the 5 main essentials for understanding crypto
1. Candlestick Charts
These are the most commonly used types of charts. Each candle represents a time period (e.g., 1 hour or 1 day) and shows:
• Opening Price (Open)
• Closing Price (Close)
• Highest Price (High)
• Lowest Price (Low)
If the candle is green (or white), it means the price increased during the period. If it is red, it means it decreased.
2. Support & Resistance
• Support: A price level where the market tends to bounce back up from (indicating strong demand).
• Resistance: A level where the market tends to bounce back down from (indicating strong supply).