๐ฉ How to Read Candles on Cryptocurrency Charts โ Quick Guide for Beginners! ๐ฅ
If you want to truly understand the movement of Bitcoin, Ethereum, and other cryptos, you need to learn how to read the candles! ๐ฅ
Each candle on the chart represents four important pieces of information about the price at a given time:
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Open
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Close
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High
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Low
๐ Green Candle (Bullish):
The price rose during the period.
Open at the bottom, close at the top.
๐ Red Candle (Bearish):
The price fell during the period.
Open at the top, close at the bottom.
๐ Keep an eye on the shadows!
Long shadows indicate price rejection.
Large bodies indicate strength in the direction of the movement.
A Doji (candle with a small body) can indicate indecision in the market.
๐ง Golden tip:
Combine candle reading with other indicators (like RSI or moving averages) for a more comprehensive and accurate analysis. ๐
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