#CryptoCharts101 Read the Chart, Don't Guess! ๐
Charts are like the 'language of the crypto market'. If you can read them correctly, you can know when to enter, when to exit, and when it's better just to watch. Let's start from the basics:
1๏ธโฃ Types of Charts You Must Know
Line Chart: simple, suitable for viewing long-term trends
Bar Chart: displays open, high, low, close information
Candlestick: trader's favorite โ can give psychological market signals through the shape of the candle
2๏ธโฃ How to Quickly Read Candlesticks
Marubozu = strong dominance of buyer/seller
Doji, Hammer, Engulfing = signs of potential reversal
3๏ธโฃ Indicators to Avoid Getting Lost
Popular combination: MACD + RSI to read momentum and trend strength
Add Volume to know if the movement has real support or is just noise
4๏ธโฃ Common Mistakes That Lead to Loss
๐ซ Using too many indicators = getting more confused
๐ซ Forgetting to check volume = misinterpreting trends
๐ซ Looking at the chart too narrowly = easy to FOMO when prices jump
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๐ก Pro Tip: Always start analysis from a larger timeframe (daily or 4H), then zoom into a smaller timeframe. Don't let the candle 'fool' you because you forgot to see the bigger context.
So, start with the chart that you understand best, then improve. Because traders who understand charts can see opportunities โ not just go with the flow.