#CryptoCharts101
How to read charts in the world of cryptocurrencies
In the world of cryptocurrencies, knowing how to read a chart is essential to avoid impulsive decisions and increase the chances of success. The candlestick chart is the most commonly used: each candle represents the price movement over a specific period, showing the opening, closing, high, and low. Green candles indicate a rise, while red ones indicate a drop.
Understanding support and resistance helps identify key areas where the price might reverse. Technical indicators like RSI (Relative Strength Index) and MACD provide signals on market excesses or trend changes. Moving averages, such as MA50 or MA200, filter the overall market direction.
Finally, pay attention to volume: if a breakout occurs with high volumes, it is more credible. Studying charts is not just technique; it is reading human behavior. And it is the first step to becoming a conscious trader.
