#CryptoCharts101
๐ง Crypto Charts 101: Understanding the Basics
1. Types of Crypto Charts
Line Chart: Simplest form โ connects closing prices over time.
Candlestick Chart (Most Popular): Shows open, high, low, and close prices for a given time frame.
Bar Chart: Similar to candlesticks but visualized differently.
2. Key Candlestick Components
Body: The range between open and close prices.
Wicks (or Shadows): Show the high and low of the time period.
Color: Often green (up) and red (down), but this can be customized.
3. Popular Timeframes
1m, 5m, 15m: For scalpers and day traders.
1h, 4h: Medium-term trades.
1D, 1W: Long-term analysis and investment planning.
4. Technical Indicators to Know
Moving Averages (MA): Smooths out price action.
Relative Strength Index (RSI): Measures momentum and identifies overbought/oversold conditions.
MACD (Moving Average Convergence Divergence): Tracks trend changes.
Volume: Shows how much crypto was traded โ key for confirming trends.
5. Chart Patterns (Visual Formations)
Bullish Patterns: Double bottom, ascending triangle, cup & handle.
Bearish Patterns: Double top, descending triangle, head & shoulders.
๐ ๏ธ Tools for Charting
TradingView โ Most popular and beginner-friendly.
Coin-specific platforms (e.g., Binance, Coinbase Pro).
Mobile apps with charting (e.g., Crypto.com, KuCoin, etc.).
If you'd like a visual example or want to learn how to read a candlestick, spot a trend, or use a specific indicator, just let me know and Iโll walk you through it step by step!
