Most new traders rely on technical analysis as this analysis focuses only on past price performance to predict future price movements. Candlestick charts are widely used along with technical indicators to provide trading signals. MACD (Moving Average Convergence/Divergence) is a widely used indicator for cryptocurrency trading due to its ease of use. It helps in assessing whether short-term price momentum is following a long-term price trend or whether there is a change in trend.
Key points
CFDs allow traders to trade cryptocurrencies without the hassle of creating cryptocurrency wallets and keys.
Most traders start their cryptocurrency journey with coins with a higher market cap.
Cryptocurrencies are often used as a way to hedge against exposure to fiat currencies.
Bitcoin, Ethereum, and Litecoin are the three most popular options.
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