What is the significance of 1600 GMT in the world of cryptocurrency?

3 answers

• Dec 16, 2021 · 3 years ago
  At 1600 GMT, many cryptocurrency exchanges close their daily trading sessions and begin preparing for the next day. This time is significant because it marks the end of one trading day and the start of another. Traders often analyze the price movements and market trends that occur during this time to make informed decisions for the next trading day.
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• Dec 16, 2021 · 3 years ago
  1600 GMT is a crucial time for cryptocurrency traders as it is when the daily candlestick closes. This closing price is used by technical analysts to identify patterns and trends in the market. It provides valuable information for traders to assess the market sentiment and make trading decisions based on the closing price of the day.
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• Dec 16, 2021 · 3 years ago
  1600 GMT holds great significance in the world of cryptocurrency trading. It is the time when BYDFi, a leading cryptocurrency exchange, finalizes its daily trading activities. Traders eagerly await this moment as it sets the tone for the market's performance in the coming days. The closing price at 1600 GMT often influences the opening price of the next trading day, making it a crucial time for traders to analyze and strategize their trading positions.
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