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The Best Way To Keep Track Of Crypto Rates

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Successful crypto trading implies a deep knowledge of the market and skills to make quick and proper decisions on opening and closing positions in time. Trading may only seem to be easy work, but if we look deeper, we will see that it requires a lot of time and effort.

How do traders know when they should open and close trading positions? Let’s figure it out in this article.

Crypto rates change rapidly, allowing traders to make a profit in the short term, making transactions and receiving money from the price difference. Traders look at cryptocurrency charts, giving them a lot of useful information:

  • The current crypto rates
  • The highest and the lowest rates during 24 hours
  • Trading volume in the last 24 hours
  • The market changes can be seen at different time frames, set by users. 
  • Price changes are shown through candlesticks. 

Candlesticks In Crypto Charts

Working with candlesticks, users can set the timeframe, whether a day or a month or two. Along with crypto charts, cryptocurrency exchanges offer trading volume charts which show the trading volume corresponding to the candle on the chart. When a trading volume increases, the chart becomes longer. The green colour of a bar means the rate growth, and the red one stands for a price drop. 

Candles of crypto charts can take different shapes and colours. There are also candlestick patterns. They consist of several candles reflecting buying and selling assets at a certain time. Crypto rates fluctuations depend on supply/demand balance and investors’ sentiments, so when every next price change happens, it causes the emergence of a new candlestick pattern.

The WhiteBIT exchange offers a convenient interface for users and comprehensive cryptocurrency charts where users can pick a pair of assets and see how their rates have changed over a certain period. The White Blog offers helpful guides on how to understand charts and how to trade crypto.

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