Starting November 13, we will select 3 users each week to win different Binance merchandise for simply posting trending topic content on Binance Square!
Activity Period: Every Monday from 07:00 (UTC) to 07:00 (UTC) the following Monday, until January 1 2024 at 23:59 (UTC).

How to Get Started?
Simply publish an article on Binance Square following our daily trending topics and content guidelines detailed in this form, and submit the URL.
Unlimited Entries: Multiple submissions are allowed, but each eligible user is only entitled to 1 reward per week.Content Requirements: Articles must be at least 300 words, include the trending hashtag and a relevant image. Short posts or videos are not eligible.Timely Submissions: Articles must be submitted within the active period for each specific trending topic, which resets daily from Mon-Fri at 07:00 (UTC).Engagement Matters: Your content must gather at least 5 interactions (including likes, comments, or shares) to be qualified.

Let your creativity shine – we're eagerly awaiting your entries! Check out the daily trending topics, and submit your content here.

Terms and Conditions:
This campaign may not be available in your region.Submissions will be evaluated by a panel from the Binance Square team, based on topic relevancy, article formatting, research quality, factual sourcing, and originality to ensure authenticity. Articles must also align with campaign rules.Winners will be announced via the [Binance Square Official Account](https://www.binance.com/en/feed/profile/Binance_Square_Official) before next Friday.Winners will receive a random Binance merchandise as their reward. Winners of this week will be notified via [Square Assistant](https://www.binance.com/en/feed/secretary) push before next Friday.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this campaign, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right to disqualify any account acting against the [Binance Square Community Guidelines](https://www.binance.com/en/support/faq/binance-square-community-management-guidelines-ecb50ef2012f40b2a2c4f72eaa5b569f) or [Terms and Conditions](https://www.binance.com/en/support/faq/binance-square-community-platform-terms-and-conditions-5dfcea5fbc0d4c4c9c90c2597f3da358).

Intraday trading is a method of investing in cryptocurrencies where the trader buys and sells cryptocurrencies on the same day without any open positions left by the end of the day. Hence, intraday traders try to either purchase a cryptocurrency at a low price and sell it higher or short-sell a cryptocurrency at a high price and buy it lower within the same day. This requires a good understanding of the market and relevant information that can help them make the right decisions. In the cryptocurrency market, the price of a cryptocurrency is determined by its demand and supply among other factors.Tools such as candlestick chart patterns offer great help to traders. We will talk about these Candlestick Charts and offer steps to help you read them.What are Candlestick Graphs/Charts? Candlesticks are a visual representation of the size of price fluctuations. Traders use these charts to identify patterns and gauge the near-term direction of price in the cryptocurrency market.Composition of a Candlestick ChartThis is how a candlestick chart pattern looks like:As you can see, there are several horizontal bars or candles that form this chart. Each candle has three parts:The BodyUpper ShadowLower ShadowAlso, the body is colored either Red or Green. Each candle is a representation of a time period and the data corresponds to the trades executed during that period.A candle has four points of data:Open – the first trade during the period specified by the candleHigh – the highest traded priceLow – the lowest traded priceClose – the last trade during the period specified by the candleHow to Analyze Candlestick Chart for Cryptocurrencies The body of the candle in a candlestick chart represents the opening and closing price of the trading done during the period for a particular cryptocurrency. Understanding this is crucial for candlestick trading. Traders can quickly see the price range of the cryptocurrency for the said period by looking at the chart. Moreover, the color of the body indicates whether the price is rising or falling. For instance, if a candlestick chart for a month with each candle representing a day has more consecutive red candles, then traders know that the cryptocurrency's price is falling.Vertical lines called wicks or shadows above and below the body show the highs and lows of the traded price of the cryptocurrency. Traders can use this information to analyze the sentiment of the market towards the cryptocurrency.Candlestick Chart Patterns Candlestick charts are an excellent way of understanding investor sentiment and the relationship between demand and supply, bears and bulls, greed and fear, etc., in the cryptocurrency market. Traders must remember that while an individual candle provides sufficient information, patterns can be determined only by comparing one candle with its preceding and next candles. To benefit from them, it is important that traders understand patterns in candlestick charts.Let's divide the patterns into two sections:Bullish PatternsBearish PatternsAnalyzing these patterns can help traders make informed decisions about buying or selling cryptocurrencies.Bullish PatternsHammer patternThis is a candle with a short body and a long lower wick. It is usually located at the bottom of a downward trend. It indicates that despite selling pressures, a strong buying surge pushed the prices up. If the body is green, it indicates a stronger bull market than a red body.Inverse Hammer patternThis is a candle with a short body and a long upper wick. It is usually located at the bottom of a downward trend too. It indicates buying pressure followed by selling pressure. It also indicates that buyers will soon have control.Bullish Engulfing patternThis is a pattern of two candlesticks where the first candle is a short red one engulfed by a large green candle. It indicates a bullish market that pushes the price up despite opening lower than the previous day.Piercing Line patternThis is a two-candle pattern having a long red candle followed by a long green candle. Also, the closing price of the second candle must be more than half-way up the body of the first candle. This indicates strong buying pressure.Morning Star patternThis is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reduction of the selling pressure and the onset of a bull market.Three White Soldiers patternThis is a three-candle pattern that has three green candles with small wicks. These candles open and close higher than the previous day. After a downtrend, this is a strong indication of an upcoming bull trend.Bearish Patterns Hanging Man patternThis is a candle with a short body and a long lower wick. It is usually located at the top of an upward trend. It indicates that the selling pressures were stronger than the buying thrust. It also indicates that bears are gaining control of the market.Shooting Star patternThis is a candle with a short body and a long upper wick. It is usually located at the top of an upward trend too. Usually, the market opens higher than the previous day and rallies a bit before crashing like a shooting star. It indicates selling pressure taking over the market.Bearish Engulfing patternIn candlestick chart analysis, this is a pattern of two candlesticks where the first candle is a short green one engulfed by a large red candle. It usually occurs at the top of an upward trend. It indicates a slowdown in the market rise and an upcoming downtrend. If the red candle is lower, the downtrend is usually more significant.Evening Star patternThis is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reversal of an upward trend. This is more significant if the third candle overcomes the gains of the first candle.Three Black Crows patternThis is a three-candle pattern that has three consecutive red candles with short wicks. These candles open and close lower than the previous day. After an upward trend, this is a strong indication of an upcoming bear market.Chart patterns can be used to understand trends and sentiment of the cryptocurrency markets. There are several other patterns to explore in order to gain a deeper understanding of market movements. Use this as a starting point and continue to learn and refine your analysis skills.Happy trades and successful investments! #candles #learning #tradingStrategy $BTC $ETH $BNB