Trade Bitcoin Trading

Types of BTCUSD Charts

How to Understand Different Types of Bitcoin Charts

There are various types of bitcoin charts used in bitcoin trading analysis & the three most common bitcoin charts are line charts, bar charts & candle charts.

Bitcoin Line charts & Bitcoin Bar Charts are not as popular as Bitcoin Candlesticks Charts

Bitcoin Candlesticks Charts are popularly used in the bitcoin market because the bitcoin candlestick shows the direction of bitcoin price movement depending on the color of the candlestick. The distance between the opening price and closing price is called the body of the candlestick, the top and bottom lines are known as shadows and these represent the high and low of the bitcoin price.

The body of a bitcoin candlestick is based on the opening bitcoin price & closing bitcoin price of a particular bitcoin time-frame period.

If the Opening bitcoin price is lower than the closing bitcoin price the color of the candlestick body will be blue or green meaning bitcoin prices went up. A bullish bitcoin candle - price moved up - blue or green color bitcoin candlestick.

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 used to display information that is similar to bitcoin candlesticks only that this charting technique uses bars to plot bitcoin price movement instead of candlesticks. The bar has a line on the left & right side - the left side is the opening price & the right side is the closing price. Different colors are used for different bars to display the direction of the bitcoin price movement - green bars for when bitcoin price moves upwards and red bars for when bitcoin price moves down.

Bitcoin Line Charts

Bitcoin line charts are used to plot the closing price as continuous line on the bitcoin chart.

Line bitcoin charts are the simplest bitcoin charts that don’t give much details on the bitcoin chart because just a line is drawn to connect one bitcoin closing price to the next bitcoin closing price and this line chart will show a series of the bitcoin closing prices.

BTCUSD Crypto Currency traders use bitcoin charts to determine the direction of the market and to identify buy & sell bitcoin setups & 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 the type of bitcoin charts that they want to trade with.

How to Understand Different Types of BTCUSD Charts

Various types of bitcoin charts can be used by bitcoin traders to analyze, interpret and understand the supply and demand of a instrument.

The bitcoin charts studies can help bitcoin traders identify various bitcoin setups that have different interpretations for supply & demand.

Bitcoin Crypto Currency traders can use these bitcoin setups to identify bitcoin signals of where to buy & sell & where to close open bitcoin trades.

To read a bitcoin chart a trader will need to learn about the three different bitcoin chart types.

Bitcoin Crypto Currency traders will also need to know about the various bitcoin chart timeframes 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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