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Why Are Crypto Charts So Important?

The crypto market is highly volatile, enabling many earning opportunities for traders and investors. Trading is not only about buying and reselling crypto assets; it is also about learning about the market and forecasting crypto rates changes. For that purpose, traders conduct technical analysis of the market and learn crypto charts. 

Charts are available on any large cryptocurrency exchange. It is made for the convenience of learning the market and trading in the same place. Users can see the current updated chart for any crypto pair in real time. Usually, crypto charts offer pairs against stablecoins, for example, USDT, but users can pick any pair. 

Indicators Of Crypto Charts

What crucial trading indicators do traders find on charts? Here are some of them:

  • Trading pair – the base asset and the quote asset.
  • Current crypto exchanges rates. The price for buying the base asset for the quote asset. This indicator can also show last-day price changes.
  • The highest and smallest price during 24 hours can also be found on the chart.
  • Daily trade volume – means the amount of the asset traded in the last 24 hours. Usually, this indicator is represented in stablecoins.
  • Time frames during which you wish to track the asset’s price changes. It may be from a minute to months, etc. 
  • Candles. Candles are charts of the assets’ price movements over a certain period. Users can set a specific time frame to check how the rate moved. 
  • Trading volume. Under the main chart, there is a diagram showing the trading volume corresponding to the candle on the chart. Green bars mean the rate of growth, and red bars indicate price drops. 

There are different types of candles. They vary by shape and colour and have a range of patterns: hammer, piercing lone, bullish candle, shooting star, etc.

To learn more about crypto charts, go to the cryptocurrency exchange WhiteBIT.

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