Intraday trading is a method of investing in cryptocurrencies where the trader buys and sells cryptocurrencies on the same day without any open positions left by the end of the day. Hence, intraday traders try to either purchase a cryptocurrency at a low price and sell it higher or short-sell a cryptocurrency at a high price and buy it lower within the same day. This requires a good understanding of the market and relevant information that can help them make the right decisions. In the cryptocurrency market, the price of a cryptocurrency is determined by its demand and supply among other factors.
Tools such as candlestick chart patterns offer great help to traders. We will talk about these Candlestick Charts and offer steps to help you read them.

What are Candlestick Graphs/Charts?
Candlesticks are a visual representation of the size of price fluctuations. Traders use these charts to identify patterns and gauge the near-term direction of price in the cryptocurrency market.
Composition of a Candlestick Chart
This is how a candlestick chart pattern looks like:


As you can see, there are several horizontal bars or candles that form this chart. Each candle has three parts:
The BodyUpper ShadowLower Shadow


Also, the body is colored either Red or Green. Each candle is a representation of a time period and the data corresponds to the trades executed during that period.
A candle has four points of data:

How to Analyze Candlestick Chart for Cryptocurrencies
The body of the candle in a candlestick chart represents the opening and closing price of the trading done during the period for a particular cryptocurrency. Understanding this is crucial for candlestick trading. Traders can quickly see the price range of the cryptocurrency for the said period by looking at the chart. Moreover, the color of the body indicates whether the price is rising or falling. For instance, if a candlestick chart for a month with each candle representing a day has more consecutive red candles, then traders know that the cryptocurrency's price is falling.
Vertical lines called wicks or shadows above and below the body show the highs and lows of the traded price of the cryptocurrency. Traders can use this information to analyze the sentiment of the market towards the cryptocurrency.
Candlestick Chart Patterns
Candlestick charts are an excellent way of understanding investor sentiment and the relationship between demand and supply, bears and bulls, greed and fear, etc., in the cryptocurrency market. Traders must remember that while an individual candle provides sufficient information, patterns can be determined only by comparing one candle with its preceding and next candles. To benefit from them, it is important that traders understand patterns in candlestick charts.
Let's divide the patterns into two sections:
Bullish PatternsBearish Patterns
Analyzing these patterns can help traders make informed decisions about buying or selling cryptocurrencies.
Bullish Patterns
Hammer pattern
This is a candle with a short body and a long lower wick. It is usually located at the bottom of a downward trend. It indicates that despite selling pressures, a strong buying surge pushed the prices up. If the body is green, it indicates a stronger bull market than a red body.


Inverse Hammer pattern
This is a candle with a short body and a long upper wick. It is usually located at the bottom of a downward trend too. It indicates buying pressure followed by selling pressure. It also indicates that buyers will soon have control.


Bullish Engulfing pattern
This is a pattern of two candlesticks where the first candle is a short red one engulfed by a large green candle. It indicates a bullish market that pushes the price up despite opening lower than the previous day.


Piercing Line pattern
This is a two-candle pattern having a long red candle followed by a long green candle. Also, the closing price of the second candle must be more than half-way up the body of the first candle. This indicates strong buying pressure.


Morning Star pattern
This is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reduction of the selling pressure and the onset of a bull market.


Three White Soldiers pattern
This is a three-candle pattern that has three green candles with small wicks. These candles open and close higher than the previous day. After a downtrend, this is a strong indication of an upcoming bull trend.


Bearish Patterns
Hanging Man pattern
This is a candle with a short body and a long lower wick. It is usually located at the top of an upward trend. It indicates that the selling pressures were stronger than the buying thrust. It also indicates that bears are gaining control of the market.


Shooting Star pattern
This is a candle with a short body and a long upper wick. It is usually located at the top of an upward trend too. Usually, the market opens higher than the previous day and rallies a bit before crashing like a shooting star. It indicates selling pressure taking over the market.


Bearish Engulfing pattern
In candlestick chart analysis, this is a pattern of two candlesticks where the first candle is a short green one engulfed by a large red candle. It usually occurs at the top of an upward trend. It indicates a slowdown in the market rise and an upcoming downtrend. If the red candle is lower, the downtrend is usually more significant.


Evening Star pattern
This is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reversal of an upward trend. This is more significant if the third candle overcomes the gains of the first candle.


Three Black Crows pattern
This is a three-candle pattern that has three consecutive red candles with short wicks. These candles open and close lower than the previous day. After an upward trend, this is a strong indication of an upcoming bear market.


Chart patterns can be used to understand trends and sentiment of the cryptocurrency markets. There are several other patterns to explore in order to gain a deeper understanding of market movements. Use this as a starting point and continue to learn and refine your analysis skills.

Happy trades and successful investments!💪👊
@Crypto Insiders

#candles #BTC $BTC

$ETH


$BNB

#0🅇8🄾0🄼™ | Below are the nominees for the names of platforms that are integrated with the blockchain network in the @BNB Chain ecosystem and supported by Binance Lab.
The nominees each compete very tightly to provide the best service to users. Several high-level features are embedded in each platform by the developer both in terms of convenience with user friendly for its use, minimal transaction costs and several platforms especially nominees for the Defi category on average they do not ignore high-level security factors in order to maintain privacy and other security.

#0🅇8🄾0🄼™ | Below are the nominees for the names of platforms that are integrated with the blockchain network in the @BNB Chain ecosystem and supported by Binance Lab.
The nominees each compete very tightly to provide the best service to users. Several high-level features are embedded in each platform by the developer both in terms of convenience with user friendly for its use, minimal transaction costs and several platforms especially nominees for the Defi category on average they do not ignore high-level security factors in order to maintain privacy and other security.

#0🅇8🄾0🄼™ | Below are the nominees for the names of platforms that are integrated with the blockchain network in the @BNB Chain ecosystem and supported by Binance Lab.
The nominees each compete very tightly to provide the best service to users. Several high-level features are embedded in each platform by the developer both in terms of convenience with user friendly for its use, minimal transaction costs and several platforms especially nominees for the Defi category on average they do not ignore high-level security factors in order to maintain privacy and other security.

#0🅇8🄾0🄼™ | Below are the nominees for the names of platforms that are integrated with the blockchain network in the @BNB Chain ecosystem and supported by Binance Lab.
The nominees each compete very tightly to provide the best service to users. Several high-level features are embedded in each platform by the developer both in terms of convenience with user friendly for its use, minimal transaction costs and several platforms especially nominees for the Defi category on average they do not ignore high-level security factors in order to maintain privacy and other security.

#0🅇8🄾0🄼™ | Below are the nominees for the names of platforms that are integrated with the blockchain network in the @BNB Chain ecosystem and supported by Binance Lab.
The nominees each compete very tightly to provide the best service to users. Several high-level features are embedded in each platform by the developer both in terms of convenience with user friendly for its use, minimal transaction costs and several platforms especially nominees for the Defi category on average they do not ignore high-level security factors in order to maintain privacy and other security.

#0🅇8🄾0🄼™ | As BNB Chain’s 4th anniversary approaches, we’re excited to kick off the celebration by launching the 4th Anniversary Ecosystem Catalyst Awards Selection! This community-driven blockchain ecosystem owes its rapid growth and success to the incredible projects that have continually pushed the boundaries of what’s possible. Now, it’s time to honor those who’ve made an extraordinary impact.
Through a democratic and transparent voting mechanism, the BNB Chain community will have the opportunity to decide which projects deserve recognition. This celebration of innovation will not only honor the most deserving candidates but also reward participating community members with exclusive benefits.
The Categories and Shortlisted Nominees
We’re thrilled to introduce our nominees, each of whom has exemplified excellence in their respective categories. Let’s dive into the categories and highlight the innovative projects in the running for these prestigious awards:

Innovation Excellence
This category is all about trailblazers—projects that are pushing the envelope in diverse fields such as AI, opBNB, Greenfield technologies, Blockchain of Things (BoT), DeSoc, DePIN, DeSci, and even the Meme space.
Aggregata: Unifying AI data, models, and computing in a collaborative data economy.Cellula: A programmable incentive layer using virtual Proof-of-Work to enable fair asset distribution and liquidity management through innovative gamified issuance.Four.Meme: The leading fair launch platform for meme coins on BNB Chain.HoloWorldAI: A decentralized AI Avatar content engine and marketplace revolutionizing content creation and trade.MyShell: Building an AI consumer layer that bridges users, creators, and open-source AI researchers.Meet 48: A borderless meta-city where reality meets the virtual world of AI and Web3.0 entertainment.
DeFi Excellence
Recognizing projects leading the way in decentralized finance (DeFi), these nominees are innovating across a range of fields from lending to liquid staking, and from trading bots to restaking.
Avalon Labs: Integrating BTCFi solutions with collateralized debt positions and institutional lending.BitU Protocol: Minting a resilient USD-pegged stablecoin while supporting omni-trading hubs with deep liquidity.KiloEx: A next-gen perpetual DEX with advanced risk management and capital efficiency.ListaDAO: Offering decentralized stablecoins and yield opportunities through collateralized Crypto assets.Solv Protocol: Unlocking the potential of Bitcoin reserves with transparency and liquidity innovation.THENA: The DeFi "SuperApp" provides decentralized alternatives to traditional exchanges.
Gaming Excellence
The future of gaming is here! These nominees are shaping the future of interactive entertainment through NFTs, SocialFi, and groundbreaking Web3 games.
Gaimin: A Web3 platform that rewards users for monetizing idle computing power while bridging traditional and decentralized gaming.GombleGames: A crypto arm boasting over 230 games and 110 million users globally.Seraph: A dark-themed ARPG enhanced with AI and MMO features, incubated by Actoz Soft.StarryNift: An AI-powered co-creation platform that revolutionizes virtual experiences and fosters tokenized community value.World of Dypians: A stunning MMORPG merging DeFi, NFTs, and AI in an immersive virtual world.Xterio: A premier gaming publisher accelerating Web3 adoption through AI and blockchain technology.
Infrastructure Excellence
These projects are foundational to the stability and growth of the BNB Chain ecosystem, providing the infrastructure necessary to support cutting-edge innovations.
AltLayer: An open and decentralized protocol to launch native and restaked rollups.BAS (BNB Attestation Service): An infrastructure built on the BNB ecosystem for generating attestation to verify information. 4Everland: A Web3 cloud computing platform that integrates storage, networking, and computational capabilities.Carv: Building the largest modular data layer for gaming, AI, and beyond.Particle: Unifying all chains through universal accounts with a seamless balance and functionality across networks.Polyhedra: Enhancing zero-knowledge (ZK) performance with Expander, powering apps like zkBridge, Bitcoin ZK, and ZK Oracle.
Rising Star
Recognizing the new kids on the block who have already made a significant impact, these projects are the future of BNB Chain’s ecosystem.
Alaya AI: An open data labeling platform.Astherus: A liquidity hub for staked assets, enhancing profitability for users.AlphaOrBeta: The 1st Entertainment Opinion Market Empowered By Opinion Labs.REVOX: A modular on-chain AI Agent Network with millions of global users.SideKick: A premier layer for gaming and social networking.Simon's Cat: The officially endorsed meme coin backed by full IP rights from the beloved animated series Simon’s Cat.
Community Voting Process
Voting for the BNB Chain Ecosystem Catalyst Awards will take place from September 2, 12 PM UTC to September 9, 12PM UTC. To participate, community members must hold BAB tokens and link their wallet address to the voting platform. 
Each community member will receive 9 votes daily. You can vote for a maximum of two projects in each category.
Voters can also receive up to 12 extra votes, which can be used across any 5 categories if they fulfill specific conditions. Voters play a pivotal role in determining the award winners.
Conditions for Extra Votes
Unlock additional voting power by fulfilling the following conditions. Each condition can be redeemed once:
Unlock additional voting power by fulfilling the following conditions. Each condition can be redeemed once:Hold a 3YA or 4YA NFT: Earn +1 vote.Hold an opBNB Genesis NFT: Earn +1 vote (Snapshot Date: Sep 2, 12 PM UTC).Be a BNB Chain Martian or KOL: Earn +1 vote.Complete 10 transactions with any nominated projects on BNB Chain: Earn +2 votes.Engage with 10 different projects by making at least one transaction with each on BNB Chain: Earn +3 votes.Accumulate a total of 0.01 BNB in transaction fees with nominated projects on BNB Chain: Earn +4 votes.
Each condition rewards you with additional votes that can help amplify your favorite projects' chances of winning!
Community members who cast at least 44 votes will be automatically entered into a raffle for a chance to win even more exciting prizes. Winners of the Ecosystem Catalyst Awards will be revealed on September 10, followed by engaging AMA sessions with the victorious projects on September 19 and September 26. 

#BNB #BNBChainTurn4️⃣ #Binance