#CryptoCharts101 for cryptocurrencies? Don't worry! Here's a simplified guide to start your journey in analyzing charts like a pro!
1. Types of Charts
- Line Chart: Shows price movement over time, ideal for beginners.
- Bar Chart: Displays the highest and lowest prices over a specified time period.
- Candlestick Chart: The most common! Shows open, close, high, and low prices with colors (green for up, red for down).
2. Basic Technical Indicators
- Moving Average (MA): Helps determine the overall trend.
- RSI (Relative Strength Index): Measures momentum (if above 70: overbought, below 30: oversold).
- Support and Resistance Levels: Areas where a change in direction is expected.
3. Tips for Beginners