Are you new to the world of cryptocurrency and want to understand cryptocurrency charts? Don't worry! Here’s a simplified guide to start your journey in chart analysis like a pro!
1. Types of Charts
- Line Chart: Shows price movement over time, ideal for beginners.
- Bar Chart: Displays the highest and lowest price during a specific time period.
- Candlestick Chart: The most common! Displays the open, close, high, and low prices with colors (green for up, red for down).
2. Basic Technical Indicators
- Moving Average (MA): Helps determine the general trend.
- RSI (Relative Strength Index): Measures momentum (if above 70: overbought, below 30: oversold).
- Support and Resistance Levels: Areas where a trend change is expected.
3. Tips for Beginners
✅ Start by understanding the basics before trading.
✅ Use indicators wisely and do not rely on a single indicator.
✅ Keep up with the news! Global events significantly affect prices.
Share your opinion! What indicator do you prefer? 🤔💡
