#CryptoCharts101 Here are the latest updates and insights from Binance’s “Crypto Charts 101” series:
🕯️ 1. Crypto Charts 101 – Candlesticks & Technical Setup
From last week’s Binance Square feed:
Focus is on key candlestick patterns (bullish engulfing, hammer, shooting star) and how they highlight momentum shifts, entry/exit points, and support–resistance zones .
Example: A bullish engulfing near support, backed by a volume spike, often signals a high-probability long setup. Watch for golden‑crosses (50 SMA crossing above 200 SMA) and MACD/RSI divergences for confirmation.
Takeaway: Use candles, S/R zones, volume, and indicators in harmony—not in isolation—to validate trades.
⏳ 2. Avoiding Beginner Pitfalls in Charting
Recent tips highlight common missteps when reading charts:
Overplotting: Stick to 2–3 key zones; too many levels add noise.
Premature entries: Always wait for price reaction proof (e.g. wick bounce).
Emotional trading: Avoid chasing setups—trade plans, not impulse.
🔒 3. Security First: Crypto Security 101
Today’s Binance Square snapshot encourages essential security habits :
1. Use hardware wallets (Ledger, Trezor) for key storage.
2. Use strong, unique passwords + 2FA app/hardware key (avoid SMS-based).
3. Stay exclusively on trusted platforms; research security and audits.
4. Beware of phishing—always double-check URLs.
5. Keep software up-to-date for better protection.
📊 4. Market Context & Sentiment Update
Fear & Greed Index sits at ~55 (Neutral), suggesting neither extreme emotions dominate the market .
Bitcoin Technical Snapshot: BTC recently hit ~$112k, then pulled back under ~$105k. Weekly RSI shows bearish divergence—hinting at a potential >50% correction toward ~$64k .
✅ Summary & Action Plan
Area What You Can Do
Charts Combine candlesticks (e.g. engulfing), SMAs, MACD, RSI, and volume to validate setups. Wait for confirmations.
Strategy Use 2–3 key zones, avoid decision-making on emotion, follow a written trade plan.
Security Adopt hardware wallets,
