Three sentences to explain how to read candlestick charts:
Cryptocurrency markets trade around the clock. The “open” of a daily candle is simply a point in time determined by the time zone. Binance’s daily candles are split at 00:00 UTC by default (08:00 Beijing time); the chart’s time zone setting takes precedence.
A long upper wick is often interpreted as selling pressure after the price rises, while a long lower wick is often seen as buyers stepping in at lower prices. However, a single candle cannot predict what happens next.
When setting a stop-loss, watch out for brief swings such as long wicks. A stop-loss set too close to the current price can be triggered by accident.
$BTC 68168.01 (-3.62%)
#BTC
Cryptocurrency markets trade around the clock. The “open” of a daily candle is simply a point in time determined by the time zone. Binance’s daily candles are split at 00:00 UTC by default (08:00 Beijing time); the chart’s time zone setting takes precedence.
A long upper wick is often interpreted as selling pressure after the price rises, while a long lower wick is often seen as buyers stepping in at lower prices. However, a single candle cannot predict what happens next.
When setting a stop-loss, watch out for brief swings such as long wicks. A stop-loss set too close to the current price can be triggered by accident.
$BTC 68168.01 (-3.62%)
#BTC