#CryptoCharts101 โ A beginner-friendly guide to#CryptoCharts101 understanding crypto charts so you can trade smarter, not harder. ๐๐ก
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๐งพ 1. Candlestick Basics
Each candlestick shows price movement for a specific time period:
๐ฉ Green (or white): Price went up
๐ฅ Red (or black): Price went down
Wick = High/low
Body = Open/close
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โฑ๏ธ 2. Timeframes Matter
1m, 5m, 15m = scalping/intraday
1H, 4H = swing trading
1D, 1W = long-term trends
Match your strategy with the right timeframe.
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๐ 3. Trendlines & Channels
Trendline: Drawn along swing lows (uptrend) or highs (downtrend)
Channels: Parallel trendlines show price ranges Helps identify breakouts or breakdowns.
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๐ 4. Support & Resistance
Support: Price floor (buyers step in)
Resistance: Price ceiling (sellers step in) Watch for breakouts or rejections near these levels.
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๐ง 5. Indicators to Know
RSI (Relative Strength Index): Overbought >70, Oversold <30
MACD: Momentum indicator showing trend changes
Volume: Confirms price moves (high volume = stronger moves)
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๐ณ๏ธ 6. Chart Patterns
Bullish: Cup & Handle, Ascending Triangle, Inverse H&S
Bearish: Head & Shoulders, Double Top, Descending Triangle
Pattern + volume = confirmation
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๐จ 7. Donโt Blindly Trust Indicators
Use them with price action โ not instead of it. No single tool guarantees success.
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๐ 8. Practice & Review
Use platforms like TradingView with paper trading to practice. Screenshot and review your analysis often.