Charts of Bitcoin Price

Different Charts of Bitcoin Price

As we know that the bitcoin is one of the new currencies which are getting popularity day by day. Its price can be rise from time to time. There is chief importance consisting four types of charts which can be used by the investor as well as a trader. This chart is based on a different kind of information of their desired aim. These charts can be line chart, point and figure chart, candlestick chart and bar chart. We are going to explain some of the bitcoin charts which can be used to technical analyze the price of bitcoin in detail.

Line Chart

It is one of the basic types of the chart because it is showing the near prices of over a set of a specific period. The line can be made into a specific shape by associating prices of each period. This type a chart does not give the capacity of giving an accurate and deep understanding of the accurate movement of price. Most of the investors are giving importance to the closing price in the bitcoin chart as compared to the high, open, and low-level price within a specific period. This kind of chart can be made the trading of sport easily because there is less difficulty has been happening as compared to the other type of charts.

Bar Chart

The bar chart becomes more extensive as compared to the line chart by adding all the side low high close open. In other words, it can be used to observe the range of price of daily bases. This kind of chart can be used as bitcoin chart is made of with the lots of no of vertical lines that represent the price of bitcoin for a different period with the combination of horizontal dash lines that is showing the open and closing price of bitcoin. It is on4e of the best chart for this purpose.

The open price can be placed on the left side of the horizontal line, and the closing price can be pleased on the right side of the horizontal line. If the opening price is less than the closing price, then the area is shaded black which is the showing the rising period of the bitcoin. If, the opening price is less than the closing price which is the falling price of bitcoin. It can be shaded as red. This chart is very reliable for the investors as well as other people for observing the price of bitcoin.

Point and Figure Chart

This chart is not getting popularity as compared to the other chart. This kind of bitcoin chart can be used for every type of investor. This chart is showing the price movement without observing the period which helps to remove difficulties as well as the unimportant movement of price that is to be worth consideration of investor. This kind of chart is usually trying to remove these skewing effects in which the time is not mentioned to the analysis of the price of bitcoin. The demand for this kind of chart is less than as compared to the other chart.