1HR in crypto trading refers to one hour of cryptocurrency trading data collected in real-time and presented as a candlestick. It is one of the most used time frames opted for by cryptocurrency traders who use technical analysis to generate signals.
Data collected during the 1 HR period can vary according to what the trader queries. In ordinary trading platforms, a user can get information on price movement, trading volumes–the number of traders who initiated positions during that sampling period–, and even capital inflow and outflow in and out of the exchange or other popular cryptocurrency exchanges.
The candlestick representing price action in the 1 HR time frame would capture the highest and lowest prices reached together with the opening and closing prices. This will help a trader gauge the strength of the market and even identify prevailing trends to capitalize on.
Day and swing traders (short-term traders) use the 1 HR time frame to identify entries and exits. They can be used together with higher time frames, including the daily or weekly charts, to define the underlying trend better, helping guide traders who want to profit from short-term price volatility. However, the trading time frame selected by a trader depends primarily on their trading style and risk profile. As a rule of thumb, the longer the time frame, the more reliable the generated signal.