#CryptoCharts101 STOP! Are you reading cryptocurrency charts like a blind kitten?
đ„ My chart reading secrets:
- Volume is more important than price - breakout without volume = fake out. Look for anomalous spikes before the move
- 0.618 and 0.786 Fibo levels - 80% of the crypto market unfolds here. The rest of the levels are for beginners
- 4-hour timeframe - the golden mean** - daily is too slow, hourly is too noisy
- RSI divergence - price is rising, RSI is falling = get ready to plum. Works 90% of the time
- Support becomes resistance - broke down the old support? It becomes resistance.
- Patterns only work on Bitcoin - on alts TA is secondary, watch out for BTC.dominance.
- Japanese candlesticks are much better than bars - doji at important levels = uncertainty signal
The main rule: the chart shows the past, but you trade the future. Manage
