Explain the Japanese Candlestick Chart?
In the following 1-day chart, we can see an uptrend (as there is a consecutive green line) and the value of the steem is being maintained, although there have been some moments of downturns but very short. The lowest values for the day were 1000 satoshis, while the highest values were 1264 satoshis for each steem.
On the other hand, a relevant information is the volume of the steem, there was an activity where it was taken to move up to 4m today.
Describe any other two types of charts?
Bar graph of Steem ; Binance: Steem-BTC
This is another way to represent the graphs, but personally I find it confusing to see those tetris on the screen, you can see the maximum value, minimum and also when it closed and opened, plus the green colors if it went up and red if it went down.
Line graphs of Steem ; Binance: Steem-BTC
This is the easiest way to see the value, as it shows the succession of values forming a line and depending on how high and low the differences in fluctuations can be noticed visually, but it provides little data.
Line graphs of Steem ; Source:coinmarketcap
In your own words, explain why the Japanese Candlestick chart is mostly used by traders.
I found it really striking that candlestick charts are so old that is to say that in the year 1700 was used to analyze the market behavior of a commodity, it is curious because if we put ourselves in context for the time, just had the basic concomientos of mathematics, geometry, physics, chemistry, economics, statistics and accounting in its beginnings, but to have such an instrument so studied today is amazing to me, and it makes me wonder how many basic theories are being learned in these courses and how many new theories are being explored in market analysis.
It is the most used because it visually shows us information about how high and low the value of a commodity or financial instrument opens or closes, in addition to the body and shadow of the candlestick.
Describe a bullish candle and a bearish candle identifying its anatomy?
Now the candlestick pattern shows a downtrend.
Hello @the01crow , I’m glad you participated in the 2nd week of the Beginner’s class at the Steemit Crypto Academy.
Unfortunately, we can't review your assignment because you submitted after the dealine which is 11:59pm UTC on Saturday, July 10th 2021.
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It was really interesting to learn about the basics of bar diagram and line diagram. Thanks for the homework and hope you will get some appreciation from the professor
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