How to read Candlestick Bitcoin (no experience)

Main meals

• Candlesticks Bitcoin is a common tool among Bitcoin dealers because it is easy to use and provide an intuitive way to understand market morale and directions.

• Candlessicks Bitcoin is a fairly old tool. They were invented by the rice dealer, Honma Mouesa, in Japan until the eighteenth century. They were presented to the Western financial markets in the late eighties.

• It helps you to understand the upscale and dramatic patterns of technical analysis. This knowledge will start with Bitcoin trading.

• It should not be your only tool to make enlightened decisions. It mixes it with other Bitcoin’s artistic indicators, such as MAS (moving averages) or the relative strength index (relative power index).

If you are new in Bitcoin (BTCTrading, you may wonder when to buy or sell. Candlessick plans, such as tape or font graphs, contain a time on the horizontal axis, while price data appear on the vertical axis.

It provides A quick look at price movements When compared to other plans. You can view the highest and lowest origin in a specific time frame. The opening and closing prices also show.

Here are some bitcoin trading tips Help you start. No experience this is your Crypto Candlestick Chart, which is perfectly suitable for beginners.

Why bitcoin prices analysis

Technical analysis is a basic and unified strategy for trading markets. At bitcoin (BTC) I started to capture prices, the prices began more, and the encryption investors began to use trading strategies from traditional markets, such as candles.

Bitcoin Basics of technical analysisPits such as TradingView provides many plans and technical indicators. These tools are easy to use, even for beginners. Crypto TradingView charts can be a candle, bar or line diagrams. Below is an overview of candlesticks to help you start Bitcoin trading.

Beginning guide for bitcoin plans candles

Candle plans are a milestone in technical analysis and the first step to understand Bitcoin Graphic fees. It is an essential tool for rapidly evaluating price movements and market trends in the short term.

It represents Bitcoin prices on the chart for a specific period, such as one hour, four hours or one day, to help traders make better decisions.

Why do candles use?

• It helps merchants visualize price movements over time.

• It helps in identifying bi -up, homosexuality, or monotheism.

• It helps to discover patterns such as repercussions or continuity to predict future price movements.

The candlestick represents four main price points:

• the opening The price is at the beginning of the period

• the closing The price is at the end of the period

• the higher The price was reached during the period

• the minimum The price was reached during the period.

The candlestick consists of a bodyThe huge part between open and close prices.

The color is green when the price rises in a bullish step, the closing price is higher than the opening price. It is red when the closure price is less than the opening price, so the price in the Habboudia movement with a decrease.

The body size shows strong pressure to buy and buy when it is long. It indicates uncertainty when it is short.

The candlestick also has a fabric, or shades. They are thin lines higher than and beyond the body that indicate the highest or lowest prices that the original hit during the relevant trading framework.

Here is a useful example that may help you better understand it. Suppose you are analyzing the four -hour graph using candlesticks, and the Bitcoin opening price is $ 90,000. The closing price is 93,500 dollars, with a rise of 95,000 dollars and 88700 dollars.

In this case, the candlestick will appear as a green body from 90,000 dollars to 93,500 dollars. Alawite removal of up to $ 95,000 and the lowest fabric decreases to $ 8,800.

Advantages of bitcoin candles

Candlessick Bitcoin plans offer several advantages, including:

• Candle plans offer you a quick vision of market feelings and price movement. They show whether the market is positive or negative and the strength of this feeling.

• You can choose different time frames based on your trading style, whether you are Today’s merchant, trader, or a long -term investor, or a long -term investor.

For example, the graph works for one minute well to scalp the scalp, while the daily chart is better for long -term investors.

Since the encryption markets are open 24 hours a day, open prices and closure reflect the beginning and end of the chosen time frame.

Introduction to the advanced encryption chart techniques for BTC Trading

Candlers are a great way to start bitcoin trading. It gives you a quick look at market trends and help predict price movements. Once you know the basic plans and skills, you can explore advanced technologies. For example, Using moving averages It can help you make better investment decisions.

Here are some of the best tools that Bitcoin merchants use to take advantage of technical analysis, size and psychology in the market. These strategies give merchants an advantage in the constantly changing encryption market.

1

Retrocting Fibonacci is a technical analysis tool used to discover potential support and resistance levels, as well as price goals.

To use this method, draw the lines that connect the high and the low on the graph. Then, calculate the levels of decline using Fibonacci ratios such as 23.6 %, 38.2 %, 50 % and 61.8 %. You can use Fibonacci’s tradition to confirm when pairing with trend lines or moving averages.

2. Sound file

The audio file is another tool for technical analysis. The trading volume of the price appears instead of time. Knowing the whereabouts of the trading helps most traders discover the main price levels. These levels often create strong and resistant support areas.

3. Elliott wave theory

the Elliot wave theory It is a prediction model for price movements based on market psychology and wave patterns. According to the theory, the market moves in the directions of five waves, followed by three waves of correction, with each wave that reflects trading morale.

4. Other indicators

• the Relative power index (RSI) It is one of the most common plans indicators. It measures the strength of upward and bottom price movements over time.

• the Simple moving average (SMA) It indicates the average price of the original over time, which can help you understand the total price of Bitcoin.

• the Si -moving average (EMA) It is a better alternative to SMA to determine short -term trends. Like SMA, EMA shows you the average price of the original over time, but EMA focuses more in recent days.

to caution! Reading Bitcoin or any other plans is a great first step towards understanding market behavior, but remember that the plans do not guarantee the results. Always combine technical ideas with risk management, and never trade more than you can lose.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.