IMPORTANT!!!

🔍 What is #CryptoCharts101

CryptoCharts101 is an informal term that refers to basic lessons on cryptocurrency trading charts, aimed at beginners who want to learn technical analysis.

📊 What is Learned in CryptoCharts101?

1. Types of Charts:

Candlestick Chart (most commonly used)

• Line Chart

• Bar Chart

• Heikin Ashi

2. Components of Candlestick:

• Body: Shows the opening and closing prices.

• Wick/Shadow: Shows the highest and lowest prices in a specific time period.

• Color: Usually green (up) and red (down).

3. Timeframe:

Charts can be displayed in various periods: 1 minute, 5 minutes, 1 hour, daily (1D), weekly (1W), etc.

4. Support and Resistance:

Points where prices tend to stop and reverse direction.

5. Trend Lines & Channels:

Drawing trend lines to understand price movements (uptrend, downtrend, sideways).

6. Volume:

An indicator of how much trading activity is behind a price movement.

7. Technical Indicators:

• Moving Averages (MA/EMA)

• Relative Strength Index (RSI)

• MACD

• Bollinger Bands

🤔 Why is it Important?

Reading charts correctly helps traders make buy/sell decisions rationally, not emotionally. It reduces dependence on “signals” or recommendations from others.

📚 Who is Suitable to Learn #CryptoCharts101?

Beginners in the crypto world.

Traders who want to understand the basics of technical analysis. Investors who want to know the right time to buy/sell cryptocurrency assets.