An opening range is understood and considered a range between the price highs and lows of a digital asset or cryptocurrency traded in a short time frame after the market opens.
Traders spot the Open Range of a trading day as an opportunity to enter into long or short positions depending on its breakout below or above the previous day's candle close.
Skilled traders may also gain insight into market sentiments and price trends of a digital asset just by technically analyzing its opening range breakout.
It is important for traders to gain ample knowledge of technical analysis and its applications and stick to strategies that work best for them individually.