Cryptocurrency is the future. When we talk about crypto, we are talking about a whole new money system that is outside of what we currently use in our banking system. Cryptocurrency is based on a technology called blockchain. When looking at cryptographic charts, this can often be confusing and a bit of jargon. Here we will cut through the technical details and give a clear and concise way to read the graphics:
The first thing you need to know is what time frame you are looking at. Based on your range, you can look at the Price variability of an hour, a day, a month or a year. Make sure to look at the X axis and the demarcations of each candle holder. There you will know what kind of delay you are looking at. The purpose of these deadlines is that they inform traders of a pattern that occurs in real time. If you are an experienced trader, minutes and hours mean a lot. If you are looking for a long-term investment, stick to it month by month.
More often than not, your Y axis will compose the price. You will see the ups and downs according to the range you said. Again, if you look at the minutes per hour, you’re probably going to have a smaller price variability on your Y axis. It is unlikely that the price of a cryptocurrency will drop or rise significantly compared to the amount you have.
When we talk about candlesticks, we are talking about the red and green lines that we see on the graph. These represent the ups and downs of prices within a certain time frame. You can see the change in your specific range by looking at where your candlesticks are located on the graph. If the closing price of your cryptographic asset is higher than the opening price within the period you select, the candlestick will appear in green. If the closing price of your crypto asset is lower than the opening price within the time limit, your candlestick will appear in red. Trends appear when you watch the green and red candlesticks go up and down the price over the time you select.
Reading a cryptographic graph is very similar to reading any publicly traded stock. All variables are the same in the graph. What changes are market capitalizations, P / E ratio, international opinions and other factors that affect the performance of cryptocurrency. If you can read the table and with the practical guide above, you can make decisions based on informed and calculated movements. Good luck and good negotiation.
