What can a candle tell you about the bulls and the bears trading crypto? It can tell a lot.
A graphic illustration conveys a stronger message than words. In the case of trading and charts what each candle represents is the ever waging battle between the Bulls and the Bears.
The Market Psychology of each individual moment is represented in real time via Candlestick Time Frames. The more Data that is in a single Candle is represented by the timeframe in which that Candle took to form. Depending on the amount of time each individual Candle took to form will determine how the Market reacts to Price Action Movements that have already been printed via a Candle.
It is what we derive from this incredibly valuable information that can sway our approach to Markets. A single days Market Sentiment can turn into a chain reaction of continued future Price Action. For Example:
Bullish Spinning Top (post on 10/27/2020) - This single candle gave the Bulls just enough sentiment to continue the rally from $13K up to $14.2K
Bullish Pin Bar - Continued the next massive rally from $14.2K all the way to $17.6K
Bullish Spinning Top (post on 11/19/2020) - This incredible candle yet again has provided the support needed to find a level of indecision that is comfortable for the Bulls yet again.
Bullish Hammer Candle - This a pretty amazing actually, we have formed yet another candle that is inherently a sign of incredible Buying Pressure. There was a level tested at 17.8K that was enough of a pullback for the Bulls to yet again gain ground... none the less in an uphill battle!
Qualities of Candlesticks Their qualities can be listed as:
Killer Whale Crypto