Candlestick chart in crypto trading
Candlestick Chart In Crypto
In the crypto market a candlestick chart refers to the chat that belongs to the financial chart that represent the amount of any crypto asset in a specific time period.
Basically candlestick chart refers to the financial chart and the purpose of these charts in crypto trading is to check the price of a coin in the crypto market.
All the traders that are doing the work of trading use these charts for trading because from this chart they check the price and also check the fluctuation in price of any cryptocurrency.
These charts know as candlestick charts because they have the rows like candle and that's why they know as candlestick chart.
How Do They Work?
The work of these candlestick chart is bit difficult and it needs a proper research for checking or reading them.The work of these charts is that firstly open the coin that we want to check.
After opening it on trading exchange then open the coin price and below it shows the chart of the coin and basically this chart showing the actual price of coin.
First of all check the highest price of coin with a particular timeframe and after checking that check the highest price that has been recorded.
Then check the lowest price of coin in a particular timeframe and then check the lowest price recorded on the chart and then check the actual price.
How To Read Them?
The most important thing that how to read candlestick chart is the important thing and many of the traders think that it's easy to read candlestick chart than other bar and lines.
Candlestick chart provide a lines of different colors and these lines are the way to read candlestick chart and these lines shows all the prices of a coin.
And after checking and calculating all the prices of a coin that has been given by the lines of candlestick chart then we can read it easily and that's best way to read them.
Thier are two specific lines and one is green and other is read and if the line is green so it mean the price is higher than actual price and if line is red then it mean price is lower than actual price.
Posted Using LeoFinance Alpha