Hello traders..

Do you know the terms that traders often use?

Here are some common terms in the trading world that I have summarized for you. So that you can also easily understand and comprehend the binance platform, especially beginners like me. Here is the explanation:

1. Ask and Bid Price

Ask price or asking price is the price position at which a trader will buy a particular currency pair. While the Bid price or offer price is the price position that a trader is willing to sell for a particular currency pair. We can see both prices on the binance trading platform display.

2. Bullish and Bearish

The term Bullish refers to market conditions where the price of a currency pair is experiencing an uptrend. Bullish market conditions are characterized by higher highs and higher lows.

In a Bullish market condition, traders are optimistic that prices will rise higher than they are now so they will make Long or buy transactions.

Furthermore, the term Bearish refers to market conditions where the price of a currency pair is experiencing a downtrend. Bearish market conditions are characterized by lower higher highs, and lower higher highs.

3. CandleStick

Candlestick or kandil is a type of price chart used in technical analysis that displays the highest, lowest, opening, and closing prices of an asset for a certain period.

4. $BTC Currency Pairs

Currency Pairs or currency pairs are quotations of two different currencies, where the value of one currency is quoted against another currency. In this case, the quote is the offer to buy and sell a currency.