Why does the same candlestick sometimes have a long wick?
My understanding: a long upper wick is often interpreted as selling pressure after the price rises, while a long lower wick often suggests buying support at lower levels. But a single candlestick can't tell you what will happen next.
A candlestick whose closing price is higher than its opening price is called a bullish candle; one whose closing price is lower than its opening price is called a bearish candle. When the opening and closing prices are about the same, it's often called a doji.
Here's a market update to wrap up: $BTC is at 82960.62 (24h -0.2%).
My understanding: a long upper wick is often interpreted as selling pressure after the price rises, while a long lower wick often suggests buying support at lower levels. But a single candlestick can't tell you what will happen next.
A candlestick whose closing price is higher than its opening price is called a bullish candle; one whose closing price is lower than its opening price is called a bearish candle. When the opening and closing prices are about the same, it's often called a doji.
Here's a market update to wrap up: $BTC is at 82960.62 (24h -0.2%).