Key results

• Bitcoin Candlesticks are a popular tool among Bitcoin traders because they are straightforward to operate and offer an intuitive way to understand market moods and trends.

• Bitcoin Candlesticks is a fairly aged tool. Hondma Munehis’s Rice trader invented them in Japan in the 18th century. They were introduced to the western financial markets in the overdue 1980s.

• They facilitate you understand the stubborn and bears of patterns in technical analysis. You will start this knowledge with Bitcoin trade.

• They should not be your only tool to make informed decisions. Combine them with other Bitcoin technical indicators, such as masses (movable average) or RSI (relative strength indicator).

If you are modern in Bitcoin (BTC), you may wonder when to buy or sell. Candle charts, such as belt or linear charts, have time on the horizontal axis, while price data appear on the vertical axis.

They provide a quick view on price movements compared to other charts. You can quickly see the highest and lowest assets prices at specific time frames. It also shows opening and closing prices.

Here are some tips on Bitcoin trading that will facilitate you start. Inexperience; This is your tutorial on the list of cryptographic candlesticks, perfectly suitable for beginners.

Why analyze bitcoin price charts

Technical analysis is a necessary and consolidated strategy of commercial markets. When Bitcoin (BTC) began to collect and prices hesitated more, cryptographic investors began to operate trade strategies from classic markets, such as candlesticks.

In the case of bases of Bitcoin technical analysis, platforms such as Tradingview offer many technical charts and indicators. These tools are straightforward to operate, even for beginners. TradingView Crypto Sects can be a candlestick, bar or linear charts. Here is a review of candlelit charts that will facilitate you start with Bitcoin.

A guide for beginners after candlestick bitcoins

Candle charts are a milestone in technical analysis and the first step to understand Bitcoin charts. They are an indispensable tool for quick assessment of price movements and market trends in a compact period.

They represent Bitcoin’s price trends on the chart in a certain period, for example, one hour, four hours or one day to facilitate traders make better decisions.

Why operate candles?

• They facilitate traders visualize price movements over time.

• They facilitate identify stubborn, bear or consolidation sentiment.

• Patterns such as reversing or continuing to predict future price movements facilitate.

The candle holder represents four key price points:

• . hole Price at the beginning of the period

• . close Price at the end of the period

• . supreme Price achieved during this period

• . lowest Price achieved during this period.

It is created from the candlestick bodyThe bulky part between open and loved ones.

It is green when the price increases in a stubborn move and the closing price is higher than the opening price. It is red when the closing price is lower than the opening price, so the price is in the bear when it drops.

Body size shows mighty pressure for purchase and sale when it is long. This indicates uncertainty when it is compact.

The candlestick also has wicks or shadows. These are lean lines above and below the body, which indicate the highest or lowest prices that it activates during the appropriate trade frame.

Here is a useful example that can facilitate you understand it better. Suppose you analyze the four -hour chart using candlesticks, and the Bitcoin opening price is USD 90,000. The closing price is 93,500 USD, with the highest level of USD 95,000 and the lowest level of USD 88,700.

In this case, the candlestick will appear as a green body from USD 90,000 to USD 93,500. The upper wick hit $ 95,000 and a lower wick immersing in $ 88,700.

Advantages of Bitcoin candlestick

Bitcoin candle charts offer several advantages, including:

• Candle charts offer a quick view of market moods and price movement. They show whether the market is positive or negative and how mighty this feeling is.

• You can choose different time frames based on your commercial style, regardless of whether you are a trader, a swing or a long -term investor.

For example, a one -minute chart works well for scalping, while the daily chart is better for long -term investors.

Because cryptographic markets are open 24 hours a day, open and close prices reflect the beginning and end of selected time frames.

Introduction to advanced cryptocurrency chart techniques for BTC trade

Candles are a great way to start trading Bitcoin. They give you a quick look at market trends and facilitate you predict price movements. When you know the basic charts and skills, you can examine advanced techniques. For example, using the average average can facilitate you make better investment decisions.

Here are some of the best tools that operate Bitcoins traders to operate technical analysis, volume and market psychology. These strategies give traders an advantage in the constantly changing cryptographic market.

1. Fibonacci derivation

Fibonacci’s department is a technical analysis tool used to detect a potential level of support and resistance, as well as price goals.

To operate this method, draw lines connecting the main high and low on the chart. Then calculate the withdrawal levels using fibonacci indicators, such as 23.6%, 38.2%, 50%and 61.8%. You can operate fibonacci recovery to confirm in combination with trend or medium traffic lines.

2. Volume profile

The volume profile is another tool for technical analysis. It shows the volume of rotation for the price instead of time. Knowledge about where trade is happening, the most helps traders detect key price levels. These levels often create mighty support and resistance zones.

3. Elliot wave theory

The theory of Wave Elliott is a model for predicting price movements based on market psychology and wave patterns. According to the theory, the market moves in the trends of five waves, followed by three waves of correction, with each wave reflecting the mood of traders.

4. Other indicators

• . Relative strength indicator (RSI) It is one of the most common graphs of charts. It measures the strength of Bitcoin price movements up and down.

• . Basic movable average (SMA) It indicates the average price of assets in time, which can facilitate understand the overall Bitcoin price movement.

• . Movable average (EMA) interpretation It is a better alternative to SMA to identify compact -term trends. Like SMA, EMA shows the average price of assets in time, but EMA focuses more in recent days.

Care! Reading Bitcoin candles or any other charts is a great first step towards understanding market behavior, but remember that the charts do not guarantee results. Always connect technical insights with risk management and never trade more than you can afford to lose.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.