Bitcoin Price Yearly Candle Shows Failed Rally, Longest Wick on Record

As reported by NewsBTC, “Today’s mid-week daily close in Bitcoin price charts carries significantly more weight than usual, as New Year’s Eve marks the last day of the calendar year, and the crypto asset’s yearly candle close.

“If the leading crypto asset by market cap closes today at current prices around $7,250, the yearly candle will close with the largest wick on record, clearly showing the failed parabolic rally that occurred around mid-year 2019.

“Bitcoin price charts can be viewed across multiple timeframes, with the most significant being given to the largest and longest timeframes.

“Crypto traders and analysts often pay particularly close attention to daily, weekly, or monthly price charts in order to get a better grasp on the market and the trend underway…”