The Easiest Way to Read Crypto Charts

In the world trading cryptocurrencies, it is very important to learn how to read crypto charts or market movement charts. 

Reading the charts will help make proper technical analysis, especially when you want to make a decision. Actually learning is not easy. Especially if you are still a beginner and at the same time need to learn technical analysis and how to read crypto charts. 

However, you don't need to worry. This guide will help you read and learn about candlestick patterns on exchanges and make it easier for you to make better decisions when trading crypto assets. 

What Are Graphics?

Graph or Candlestick is a charting method that shows the price movement of an asset over a certain period of time.

This method is widely used to track price movements of various assets ranging from stocks, forex to digital currencies. The chart shows four main components: open (open), closed (closed), high (high) and low (low). 

In order to make the right decisions, many Bitcoin and cryptocurrency investors are starting to learn how to read candle movements. One reason is that Bitcoin candlestick analysis can predict bullish or bearish reversal signals so traders can make trading decisions faster than other traders.

How to Read Crypto Charts

When learning to read candlesticks, you need to know the four main components shown in candlesticks, candlestick patterns, and how to read crypto candlestick charts correctly. Candlesticks mainly consist of four main components, namely:

• Open refers to the price of the asset at the start of trading for a certain period. 
• Close which refers to the price when the position is closed for a certain period of time. 
• The high (high) and low (low) components represent the highest and lowest prices that an asset reached in a given period.

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Bullish candles arises when the closing price of an asset is higher than the opening price for a certain period of time. In the cryptocurrency market, this candlestick is green.

Bearish candles occurs when the closing price is lower than the opening price of the asset. In the crypto market, this candle is red.

For example, if a Bitcoin asset opens at IDR 696 million and closes at IDR 700 million, the candle shown is green and is called a bullish candle. On the other hand, if the bitcoin asset has an opening price of IDR 696 million and a closing price of IDR 690 million, the candle that appears will be red and is called a bearish candle.

Candlesticks can help traders visualize cryptocurrency price movements in detail over time. Each candlestick pattern can be used to predict whether the price direction of a crypto asset will go up or down.

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But in general, very it is important for traders to think about short and long term conditions and pay attention to potential volatility when opening candlestick trades. Well, if you are a trader, it is very important to know how to read crypto charts.