Candlestick chart refers to a type of crypto candle chart pattern representing positive and negative price changes. While the green or the blue candlestick indicates a positive price change, the red candlestick is associated with a negative price change. A crypto candle chart pattern is also used to describe the price action of a certain crypto asset during a given time frame such as an hour or a day.
Candlesticks are formed by the opening prices and the closing prices along with the highs and lows of a financial instrument. When such candlesticks are combined they form patterns that allow the investors to predict or deduce the long-term as well as short-term price movements of the assets.
For green or blue candlesticks the upper line of the candlestick body is the closing price while the lower boundary of the candlestick body is the opening price. The tip of the wick represents the all-time high value of the asset during that time frame. The inverse is true for a candlestick representing negative price movement.