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Open Price Meaning

The price at which an asset first trades at the beginning of a specific time period (e.g., the start of the day, hour, or minute candle). On a candlestick chart, the open price is represented by the top or bottom of the candle body, depending on whether the price moved up or down.

For cryptocurrency, which trades 24/7, the "Daily Open" is an arbitrary concept usually set to 00:00 UTC. Traders watch the open price closely because it sets the psychological baseline for the session.

Price action relative to the open is a common trading signal. If Bitcoin is trading above its "Monthly Open," it is considered bullish on a higher timeframe.

If it drops below the "Daily Open," intraday traders might shift to a bearish bias.

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