1hr refers to one hour cryptocurrency trading data: data that utilizes information from a one-hour period, usually from the previous hour at the time of querying the data. This data can provide a variety of metrics including price movement, number of participants buying or selling, and even inflow numbers of money onto and off of popular exchanges.
One hour data helps traders to make shorter-term trading decisions, usually in conjunction with data from longer (one day) or shorter (10 minutes) time periods to overlay and compare trends.
Example of 1hr data:
The fluctuation of price in an asset within the last one-hour period is an example of one-hour data.
One-hour data can also be expanded to upon to cover larger time scales. For example, a candle chart showing a 24 hour period can be made up of individual one-hour candles. These candles also represent one-hour data in this case.
Why is 1hr data important?
1hr data is important for traders looking to cash in on short-term price action. Short-term traders generally trade on leverage and look to take advantage of price volatility within small time frames, such as one-hour periods.