Steemit crypto academy season 4 beginner's course- task 10: candlestick patterns. by professor @reminiscence01 by @héctorgallardo

Explain the Japanese candlestick chart? (Original screenshot required).
b) In your own words, explain why the Japanese Candlestick chart is the most used in the financial market.
c) Describe a bullish and a bearish candle. Also, explain its anatomy. (Original screenshot required)

A cordial greeting to all the members of the steem crypto academy community, I want to thank our illustrious professor @ reminiscence01 for the class and explanation given, without further ado I will present my work.

Japanese candlestick charts, explanation (screenshots attached).

Japanese candles are a measuring instrument that represents the economic value of any existing cryptocurrency in the market, without the need to use lines or bars.

This instrument was originated by its author Munehisa Homma in the year 1700 in Japan and is called (Gandlestick Japanese), whose meaning in Spanish is Japanese candles.

Munehisa Homma's main idea was to add the Japanese candles to the market value charts, making it easier to represent the value of an asset in times of high demand and to be able to visualize the rise or fall of said cryptocurrency, facilitating a better understanding of the assets. asset movements in the stock market.

Thanks to this tool, it is easier to obtain detailed information on the movement of the asset and certain time intervals such as: 24 hours, 1 week, 1 month, giving users a better understanding of the previous movements of said cryptocurrency to know If it is the right time to buy or sell it, this tool helps those users who want to invest in these assets in the future.

Japanese candles present the rise and fall of assets with two peculiar colors: green for the rise and red for the decline, for example: when looking at a graph on said exchange, buy and sell platform, it will show a series of two lines in parallel showing the movement of the currency in the market, the vertical rectangular ones will come in green if the asset increases its value, and the red if it decreases.

(example in binance) in a red circle we see the two lines as Mensione that is the movement of the currency in the market, and the green circle we see the Japanese candles representing the rise and fall of said crypto currency.

Explain in your own words why the candlestick chart is the most widely used in the financial market.

In my opinion Japanese candles are the most used in the market thanks to their easy understanding and any new user in the world of cryptocurrencies can learn quickly thanks to this tool, thanks to its two distinctive colors it makes it easier to know the current value of said currency at the time of carrying out any operation on said platform.

describes a bullish and bearish candle. also explains their anatomy (screenshot required)

The bullish and bearish candles have a simple function and it is to indicate the current value of an asset.

The bullish candle is known for being the green candle and shows that the value of the asset increased, the length of its body indicates the percentage of increase of that asset, the higher the candle, the greater the value of the cryptocurrency.

In this capture we can see the two candles indicating the descent and ascent of the currency.

The bearish candle is mostly known with the red color, when observing the current graph of an asset and it is in red it means that the value of the currency is low and for a good trader it is the perfect moment to buy and to moment of raising the value generates profit. The candles have a simple structure that is composed as follows: body and shadow or wick.

the green Japanese candles always represents the increase in value and is known as bullish and the red one represents a fall in the value of the currency, the shadow presents the value of an asset at the moment in the market, whether it is high or low .

conclusion

Japanese candles are a great tool that helps to better understand the value of assets, it also makes it easier to know about the current value and how much it increased or decreased in a certain time, it also gives more details to funds such as knowing that percentage of increase obtained or that lost gender.

In my opinion Japanese candles are a super tool for those who want to start in the world of cryptocurrencies, thank you.