When you look at Bitcoin price charts (probably every two minutes if you’re like us), you’ll see red and green candles on the price charts.
These candles show the price movements of Bitcoin over a specified period of time, depending on the time you select when viewing these charts. It can vary from 1 hour to 1 month and beyond.
A red candle indicates a decline in price within the time frame you specified when opening your price chart. These are also affectionately referred to as “red dildos” in the Bitcoin community, meaning the same thing.
People on Twitter refer to a red candle when there is a sudden price drop and encourage people to buy the dip. A prolonged period of red candles could indicate a bearish market.