Why does a candlestick sometimes have a long wick?
My understanding: A long upper wick is often interpreted as selling pressure emerging after the price rises, while a long lower wick often suggests buyers stepped in at lower levels. But a single candlestick can't tell you what will happen next.
The crypto market trades around the clock. The “open” of a daily candlestick is just a point in time determined by the time zone. Binance daily candlesticks are split by default at 00:00 UTC (08:00 Beijing time); the chart's time zone setting takes precedence.
Corresponding coin: $BTC is trading at 84120.69 (24h +1.16%).
My understanding: A long upper wick is often interpreted as selling pressure emerging after the price rises, while a long lower wick often suggests buyers stepped in at lower levels. But a single candlestick can't tell you what will happen next.
The crypto market trades around the clock. The “open” of a daily candlestick is just a point in time determined by the time zone. Binance daily candlesticks are split by default at 00:00 UTC (08:00 Beijing time); the chart's time zone setting takes precedence.
Corresponding coin: $BTC is trading at 84120.69 (24h +1.16%).