The Bitcoin rate is overall on the rise, which is making it one of the most popular choices for cryptocurrency trading. People everywhere are investing capital into Bitcoin in hopes of making substantial earnings. As with all realms of the stock industry, Bitcoin is not immune to the volatility of economic and political factors. Thus, Bitcoin’s price will dip and climb, but how do you determine which dip and which climb serves as a good enter or exit point? Below we’ve embedded a Bitcoin live stream to help you keep track of changes in the market in real-time.
Bookmark this page for easy referral late on and read below to see how to read and interpret the live data.
If you are new to the realm of Bitcoin trading, you will first need to establish yourself with a broker, whether that be online or in-person. We’ve reviewed numerous cryptocurrency brokers that have various benefits, deposit requirements, fees, and costs.
Binance Coin (BNB)
Bitcoin Cash (BCH)
Bitcoin SV (BSV)
Bitcoin Gold (BTG)
With the multitude of options, we feel confident that you will find a broker to meet your needs.Once you’ve established yourself with a broker, you’ll be ready to trade; however, we urge you to consider tips on reading the live charts below, as understanding chart data can help with your strategy.
LearBuy ning to read a Bitcoin chart is a technical skill that will require some practice. However, with practice, you’ll be able to track your favorite cryptocurrency and understand the market trends. Relying on charts and technical analyses allows for traders to strategize, understand, and predict the market trends, so it’s an essential skill. There are various types of charts, but we’ve embedded a Bitcoin live stream with candlestick charts, as these provide more objective data on the Bitcoin price today compared to other forms of charts. Learning when to time your trade executions is a common problem for traders as it is difficult to guess when Bitcoin’s price will rise or fall. Below we’ve highlighted some steps to help read and understand candlestick charts.
The first step is to understand different time selections. Live Bitcoin charts allow you to see historical data as well as the current Bitcoin rate, which will enable users to see trend lines. You can see shifts in trends in a time frame of five minutes if you’d like to see minute-by-minute updates, or you can opt for day-to-month-long trends. Playing around with the various trend periods will allow you to pinpoint fluctuations across time.
The second step is to understand how to read trade volumes. Higher trade volumes typically indicate some significant change in the market, either positive or negative. At the bottom of the charts, you will see multiple vertical lines that represent the trade volumes. Pay attention to times of high trade volume and investigate to see what could have caused the shift. Was there a political or economic event that caused the surge or dip? This investigation will help you plan whether to buy or sell.
The third step is to understand the difference between bearish and bullish candlesticks on the chart. Bullish candlesticks are green and indicate that the price of Bitcoin has been on the rise during the selected timeframe. If the closing price is higher than the opening price, then the result will be a bullish candlestick. In contrast, a bearish candlestick is red and occurs when the price is generally decreasing. Therefore, if the ending price is larger than the starting price, then the chart will show a bearish candlestick. Looking at the direction of the candlesticks is an essential way to predict future market trends. Combinations of candlesticks can help predict what will occur next as trends often repeat themselves in history.
Use off these steps to help understand and interpret the chart data we’ve provided above. Remember that even though Bitcoin appears to be trending up right now, it is still a volatile market, so trade cautiously and don’t overinvest with capital you can’t afford to lose. As always, happy trading, friends!