Making Money, or in other words, creating assets has become quite easy with the rising popularity of cryptocurrency but with a risky proportion. And now that you are in the right place now, you will get a step-by-step guide on how to start buying and trading cryptos.
So, Let’s deep dive in the world of cryptocurrency and get the answers to the most common questions – How To Read Candlesticks Crypto
What are candlesticks on Cryptowatch?
Candlestick charts are simple graphs composed of an X and Y axis. The period of time that each candle represents is selectable, ranging from 1M (1 minute) to 1W (1 week) on Cryptowatch. The time selector is in the top-left of the price chart, next to the exchange and market pair. In the image above you can see it to the right of “Kraken BTC/USD”.
How to read a candlestick?
For instance, if you are looking at a candlestick with a red body, then you know the price is going down, which means that the closing price is at the bottom of the candlestick’s body instead of at the top. 5 Inspect the upper shadow of the candlestick to determine the high price.
How to find the closing price of a candlestick?
Find the closing price at the top of a green candlestick or the bottom of a red one. The closing price is the top of the body if the market price is going up. It is the bottom of the body if the market is trending down.
How long does a crypto Candlestick last?
The timeframe represented in a candlestick can vary widely. Coinbase Pro, for instance, defaults to six hours — with each candle representing a five-minute slice — but users can set it to be longer or shorter. (Also worth noting: unlike stock markets, crypto markets are open 24 hours a day.