This channel is called 247candles, and tonight you finally find out why. Those little green and red bars on every crypto chart are called candles, and in 25 minutes you'll read one as easy as a bedtime story.
By the end of this one you'll know the four things every candlestick shows, why some are green and some are red, and why this channel is named after them.
The lesson
One candle is a tiny record of a tug of war between buyers and sellers over one stretch of time, and it tells you four things, same as my morning barn notes tell four things about a day. The fat part of the candle, called the body, shows where the price started and where it ended, like writing down the temperature at sunrise and again at sunset. The skinny lines poking out the top and bottom, called wicks, show the highest and lowest the price touched in between, the hottest and coldest moments of that day. If the price ended higher than it started, the candle prints green, and if it ended lower, it prints red. And because crypto never closes, not nights, not Sundays, not Christmas, those candles keep printing 24 hours a day, 7 days a week. That's the whole name: 24/7 candles.
Walk the $100
Same lesson, told by a hundred dollar bill. Tap to walk it one step at a time.
In this example, one daily candle for a coin opens at $100.
During the day the price touches $110 at its highest and $95 at its lowest, then finishes at $104.
So $100 worth of that coin at the open is worth $104 at the close, and the candle shows the whole ride: for a moment it was worth $110, for a moment $95, all packed into one little green picture.
At your kitchen table
It's 11:40 at night and you're in bed doing one last scroll before sleep. You put $50 into the coin your brother keeps talking about, and tonight its daily candle is a big red one with a long skinny line poking out the bottom. Your thumb hovers.
Pick your move. Then peek at the other roads if you're curious.
I sell it right now. You sell and about $48 lands back in your account. Later you find out what that long bottom line meant: the price had dipped to where your piece was worth $44 and climbed most of the way back before you ever opened the app. The scariest part of the day was already over when you looked.
I read the candle first. The fat part says your piece started the day worth $50 and ended near $48, and the skinny line below says it touched $44 in between and came back, and since nothing pokes out the top, the highest it ever saw was the $50 it started at. That's all four facts a candle holds, and not one of them is about tomorrow. You know exactly what today did, which is exactly what a candle is for.
I close the app and sleep. The candles keep printing all night because crypto never closes, and they print the same whether you watch or not. In the morning your $48 reads $49.50, and the only thing that clearly changed overnight is how rested you are.
One candle is a tiny record of the past, just four facts, where the price opened, its high, its low, and where it closed.
Quiz yourself
🐓 Got a question about this one? Ask it on the live at 7 AM or 7 PM Mountain, TikTok @247candles. Steven answers class questions by name.