OHLCV stands for Open, High, Low, Close, and Volume - these are the key data points used to track price movement of stocks, cryptocurrencies, or other financial instruments over a specific time period (like hourly or daily).
OHLCV in the Cryptocurrency Market
OHLCV is a set of five fundamental metrics that track cryptocurrency price movement and trading activity over a specific time period (like 1 minute, 1 hour, or 1 day):
O (Open): The price at which a cryptocurrency starts trading at the beginning of the period.
H (High): The highest price reached during that period.
L (Low): The lowest price reached during the period.
C (Close): The final trading price at the end of the period.
V (Volume): The total amount of the cryptocurrency traded during that period.
For example, a daily Bitcoin OHLCV data point might look like this:
This data is crucial for technical analysis, as it helps traders understand price movement, market sentiment, and trading activity in cryptocurrency markets.