$BTC What is a Candle Stick Chart? Easy Guide for New Traders
Whenever we check a chart on Binance or any crypto exchange, those colorful candles we see are called Candle Stick Charts.
Newbies often get confused trying to understand them. Let's learn easily.
---$ETH
Purpose of the Candle Stick Chart
A candle tells us what happened in a short time frame (1 min, 5 min, 1 hour, 1 day, etc.):
Where the price started (Open)
How high it went (High)
Where it closed (Close)
How low it dropped (Low)
By looking at this, we can understand if the buyers are stronger or the sellers.
---$BNB
4 Key Parts of a Candle
1. Open: Where the candle starts.
2. Close: Where the candle ends.
3. High: The highest price during the candle.
4. Low: The lowest price during the candle.
---
2 Types of Candles
If the candle is green, it means the price has gone up.
If the candle is red, it means the price has gone down.
---
What is a Wick?
The thin lines above and below the candle are called Wicks.
Upper wick = High price
Lower wick = Low price
#TrumpTariffs
An Easy Example:
Let's say:
Open = $100
Close = $120
High = $125
Low = $95
Since Close > Open, this is a Bullish Candle, meaning buyers are strong in the market.
---
How to View Candle Charts on Binance?
1. Open the Binance app or website.
2. Open the chart for any coin.
3. Select your Time Frame (1m, 5m, 1H, 1D).
4. The candles you see will tell you the market's condition.
#BSCTrendingCoins
Tips for New Traders:
Check the chart daily.
Note candle patterns.
Learn trading with patience and effort.
Whenever we check a chart on Binance or any crypto exchange, those colorful candles we see are called Candle Stick Charts.
Newbies often get confused trying to understand them. Let's learn easily.
---$ETH
Purpose of the Candle Stick Chart
A candle tells us what happened in a short time frame (1 min, 5 min, 1 hour, 1 day, etc.):
Where the price started (Open)
How high it went (High)
Where it closed (Close)
How low it dropped (Low)
By looking at this, we can understand if the buyers are stronger or the sellers.
---$BNB
4 Key Parts of a Candle
1. Open: Where the candle starts.
2. Close: Where the candle ends.
3. High: The highest price during the candle.
4. Low: The lowest price during the candle.
---
2 Types of Candles
If the candle is green, it means the price has gone up.
If the candle is red, it means the price has gone down.
---
What is a Wick?
The thin lines above and below the candle are called Wicks.
Upper wick = High price
Lower wick = Low price
#TrumpTariffs
An Easy Example:
Let's say:
Open = $100
Close = $120
High = $125
Low = $95
Since Close > Open, this is a Bullish Candle, meaning buyers are strong in the market.
---
How to View Candle Charts on Binance?
1. Open the Binance app or website.
2. Open the chart for any coin.
3. Select your Time Frame (1m, 5m, 1H, 1D).
4. The candles you see will tell you the market's condition.
#BSCTrendingCoins
Tips for New Traders:
Check the chart daily.
Note candle patterns.
Learn trading with patience and effort.