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Types of BTCUSD Charts

How to Understand Different Types of Bitcoin Charts

Bitcoin analysis uses several chart types. The main ones are line, bar, and candlestick charts.

Bitcoin line charts and bar charts are not as widely used as Bitcoin candlestick charts.

Bitcoin Candlesticks Charts are commonly used in the bitcoin market because the bitcoin candlestick shows where the bitcoin price is going based on the candlestick's color. The space between the starting price and ending price is called the candlestick's body, and the lines at the top and bottom are called shadows, which show the highest and lowest points of the bitcoin price.

A bitcoin candlestick's main section shows the bitcoin price when trading began and when it ended during a set bitcoin time period.

A Bitcoin candle turns blue or green if the open price is below the close. This shows prices rose. It's a bullish sign.

If the Opening bitcoin price is higher than the closing bitcoin price the color of the candlestick body will be red meaning bitcoin prices went down. A bearish bitcoin candle - price moved down - red color bitcoin candlestick.

The thin lines that protrude above & below the bitcoin candlestick body are called wicks or shadows.

Bitcoin Bar Charts

Bitcoin bar charts are deployed to present price information mirroring that of bitcoin candlesticks: the key difference is that this charting method uses vertical bars to illustrate bitcoin price activity rather than candle formations. Each bar features a mark on its left and right sides: the left mark indicates the opening price, and the right mark denotes the closing price. Color coding differentiates the bars to show the prevailing direction of the bitcoin price movement, with green bars signifying upward movement and red bars indicating a decline.

Bitcoin Line Charts

Bitcoin Line Charts Show Closing Prices as a Steady Line Over Time.

Line charts for Bitcoin offer the basic view. They link closing prices with a simple line. This setup plots a row of those closing prices without extra details.

BTCUSD traders look at bitcoin charts to understand where the market is going and to find chances to buy & sell bitcoin, plus signals.

The three commonly used bitcoin charts - Line Charts, Bar Charts and Candles Charts are offered for on the bitcoin platform - MT4 and MT5 platform and bitcoin traders can choose & select the type of bitcoin charts that they want to trade with.

How to Understand Different Types of BTCUSD Charts

Bitcoin traders can use different kinds of bitcoin charts to study and understand what affects the buying and selling of something.

Bitcoin chart studies help spot setups. They show supply and demand in different ways.

Bitcoin Crypto Currency traders can use these bitcoin setups to see bitcoin signs of when to buy & sell & where to end open bitcoin trades.

To interpret a Bitcoin chart, a trader must learn about the three distinct types of Bitcoin charts.

Bitcoin traders will also need to know and learn about the various bitcoin chart time frames for these bitcoin charts - 1 minute bitcoin chart timeframe, 5 minutes bitcoin chart timeframe, 15 minutes bitcoin chart timeframe, 30 minutes bitcoin chart timeframe, 1 hour bitcoin chart timeframe, 4 hours bitcoin chart timeframe, 1 day bitcoin chart timeframe, 1 Week and 1 month bitcoin chart timeframe.

Types of Different Bitcoin Charts

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