Hi I'm really sorry if I'm asking this this question, but basically what does this mean?
RE: Steem/BTC gave a BULLISH ENGULFING CANDLE, Learn about it.....
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Steem/BTC gave a BULLISH ENGULFING CANDLE, Learn about it.....
No problem, the interaction is good. A bullish engulfing candle gives the trader an idea as to where the trade is heading up. In other words, there is a high likelihood that the current price is going higher. For example if you wish to exchange your steem or steem dollars and you notice this formation, you can just be patient and sell it at a higher price. Asset move up and down base on demand and supply and sentiment. Graphs paint a picture as to how the overall market is feeling about the asset. The graphs would tell that people are buying or selling. Usually when people are buying, prices go up. When people are selling prices go down. There are always folks with large volume or great supply that absorb all the buying pressure and cause massive drop in price. As well as folks who put in a large buy order and cause the price to skyrocket. There are many more patterns to familiarize yourself with, I would probably continue sharing those but familiarize yourself with those as they would be very useful to you in the cryptocurrency space
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Thank you so much for that information. I really appreciate it! :)
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