How to Read and Interpret a Candlestick Chart
A beginner traders tutorial to learn trade - how to read charts. The 3 types of charts are line crypto chart, bar chart & candle chart - these commonly used chart types are explained in this tutorials & beginners can learn how to interpret these charts from this tutorial.
This learn bitcoin trading tutorial will show and explain to you how to read these crypto candlesticks charts that are commonly used in the Bitcoin market.
How to Read and Interpret Candle BTCUSD Charts for New Traders
Line Charts - cryptocurrency line crypto charts draw a continuous line joining closing bitcoin prices of bitcoin crypto.
Bitcoin Line Charts - How to Read and Interpret Candlestick Bitcoin Charts for Beginner Traders
Bars Charts - btcusd crypto trading bar charts are shown as sequence of O-H-C-L bars. O.H.C.L. represents OPEN HIGH LOW and CLOSE. The Opening btcusd price is displayed as a horizontal dash hyphen onto the left ==22==& closing btcusd crypto price as a horizontal hyphen onto the right.
Bitcoin Bars Charts- How to Read and Interpret Candlestick Bitcoin Charts for Beginners
Main disadvantage of a bar chart is that it isn't visually appealing and identifiable, hence most traders don't use them.
Candles BTCUSD Charts - these crypto candlesticks charts use the same bitcoin price data as bar charts (open, high, low, and close). However, they are represented in a more visually identifiable and appealing way which resembles and looks like a candle that has wicks on both its ends.
How to Interpret/Analyze and Analyze Candles BTCUSD ==22==CryptoCryptoCurrency Charts
The rectangle section is called the body.
The high & low are described as shadows & drawn as poking lines.
How to Read and Interpret Candle Charts for Beginner Traders
The colour of the bitcoin trading candle is either blue or red:
- (Blue or Green Colour Candles) - Bitcoin Prices moved up
- (Red Colour Candles) - Bitcoin Prices headed down
Most bitcoin softwares such as the MT4 BTCUSD Software, use colours to mark direction of the bitcoin price. Candles color used are blue or green: when btcusd cryptocurrency price moves up, color of candle is blue: when bitcoin price moves down, color of candle is red.
How to Read and Interpret Candle BTCUSD Charts for Beginner Traders
When Bitcoin candles charts are used it's very easy to see if the bitcoin price headed up/down as compared to when bar charts are used.
More Tutorials and Courses:
- How Does Online Bitcoin Trading Work?
- How Can You Use Buy Stop Order in MetaTrader 5 Trade Platform?
- How Can You Draw ==22==UpwardsUpward Trend Line in Trade Charts in MT4 Software Platform?
- How ==22==CanDo You Analyze/Interpret More Bitcoin Trade Charts in MT4 Software Platform?
- What are the Top Bitcoin Trading Strategies Guide Lesson?
