What is 7d?
7D refers to one-week cryptocurrency trading data: data that utilizes information from a one-week period, usually from the previous week 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.
7 days data helps traders to make short to medium term trading decisions, usually in conjunction with data from longer (one month) or shorter (24 hrs) time periods to overlay and compare trends.
EXAMPLE OF 7D DATA
The price action over a period of one week is a prime example of 7 days data. In candlesticks chart pattern, each candle will represent the opening and closing price of an asset within a one-week period.
7-day data can also be expanded 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 7D DATA IMPORTANT?
7D data is important for traders looking to cash in on short to medium term price action. 7D data can also inform long term trading decisions when combined with other smaller and larger time frames