Press Release 13 January, 2019

BitBattle updates battle rules, which candlestick is supposed to be SIDEWAYS?

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BitBattle is a peer-to-peer trading contest platform where users battle with others by predicting the price direction of the instrument, UP/DOWN/SIDEWAYS.

So, when is a candlestick called SIDEWAYS in BitBattle? Is there any condition set to follow? If you happen to understand more, check it out as below with BitBattle.

On BitBattle, the direction of an M1 candlestick is identified based on the difference between opening price and closing price of the candlestick.

The old condition set to identify UP/DOWN/SIDEWAYS candlesticks:

  • If the difference between opening and closing price of an M1 candlestick is not more than $0.2 => This M1 candlestick is identified to be SIDEWAYS.
  • If the difference between opening and closing price of an M1 candlestick is more than $0.2 and the closing price is higher than the opening price => This M1 candlestick is identified to be UP.
  • If the difference between opening and closing price of an M1 candlestick is more than $0.2 and the closing price is lower than the opening price => This M1 candlestick is identified to be DOWN.

The above condition set is applied for all weekdays, including weekends on holidays.

However, during the weekends or holidays, most instruments often perform thin trading volumes, which is also understood that there are more SIDEWAYS candlesticks on these days than usual.

From 23:59 (GMT+7) Jan 13th, 2019, BitBattle updates a new condition set as below:

The updated condition set to identify UP/DOWN/SIDEWAYS candlesticks:

On weekdays (from Monday to Friday):

  • If the difference between opening and closing price of an M1 candlestick is not more than $0.3 => This M1 candlestick is identified to be SIDEWAYS.
  • If the difference between opening and closing price of an M1 candlestick is more than $0.3 and the closing price is higher than the opening price => This M1 candlestick is identified to be UP.
  • If the difference between opening and closing price of an M1 candlestick is more than $0.3 and the closing price is lower than the opening price => This M1 candlestick is identified to be DOWN.

On weekends (Saturday and Sunday) and public holidays:

  • If the difference between opening and closing price of an M1 candlestick is not more than $0.1 => This M1 candlestick is identified to be SIDEWAYS.
  • If the difference between opening and closing price of an M1 candlestick is more than $0.1 and the closing price is higher than the opening price => This M1 candlestick is identified to be UP.
  • If the difference between opening and closing price of an M1 candlestick is more than $0.1 and the closing price is lower than the opening price => This M1 candlestick is identified to be DOWN.

Several special promotion programs on BitBattle:

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About BitBattle

BitBattle is a P2P trading contest platform that allows users to set-up their own battles easily and win valuable rewards



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