A few things to keep in mind when reading candlestick charts:
1) The thicker section in the middle of a candlestick is called the body, and the thin lines extending from either end are wicks. The highest point of the upper wick is the high for that period.
2) Cryptocurrency markets operate around the clock, year-round. The “open” of a daily candlestick is simply the point in time determined by the time zone. Binance’s daily candlesticks default to UTC 00:00 (8:00 a.m. Beijing time); the chart’s time zone setting determines the time used.
3) When setting a stop-loss, account for short-term volatility such as long wicks. If the stop price is set too close, it can easily be triggered.
The corresponding asset: $BTC . Current price: 83418, 24h +0.79%.
#BTC
1) The thicker section in the middle of a candlestick is called the body, and the thin lines extending from either end are wicks. The highest point of the upper wick is the high for that period.
2) Cryptocurrency markets operate around the clock, year-round. The “open” of a daily candlestick is simply the point in time determined by the time zone. Binance’s daily candlesticks default to UTC 00:00 (8:00 a.m. Beijing time); the chart’s time zone setting determines the time used.
3) When setting a stop-loss, account for short-term volatility such as long wicks. If the stop price is set too close, it can easily be triggered.
The corresponding asset: $BTC . Current price: 83418, 24h +0.79%.
#BTC