How To Read Crypto Charts For Day Trading. Bitcoinwisdom is totally free cryptocurrency charting website, that includes all the key exchanges such as bitmex, deribit, kraken, binance and coinbase pro. Crypto charts denote the trading pair, timeframe being looked at, and the trading platform in question.
Jack is a top author on tradingview with a lot of knowledge to share. All of the above elements are represented in the bitcoin chart example below. Candlestick (or japanese candlestick) charts are one of the most visual cryptocurrency price charts.
Charts also typically display each timeframe’s spot price open, high, low, and close.
As you can see in the chart above, they are made up of literal candlesticks, each one representing a trading period that can be 1 minute, 1 hour, 1 day or more. Lines on such a chart can be of two scale types: Traders use this chart to get an understanding of price dynamics over a period of time, and this dynamics is represented by a single continuous line. This should give you a basic understanding of how to read trading charts and what all the numbers mean.