#CryptoCharts101 Reading charts is essential for every crypto trader. Not only to observe price movements up and down, but also to understand the structure behind them. Here is a quick basic summary:

1. Candles

Indicate price movement within the selected timeframe (1M, 5M, 1H, etc.)

• Body = the difference between opening & closing prices

• Wick = highest & lowest prices

2. Support & Resistance

• Support = price area that is likely to bounce upwards

• Resistance = price area that is likely to drop

3. Trend Lines

Lines that indicate the direction of price — uptrend, downtrend, or sideways.

4. Volume

Indicates the market strength behind price movements. High volume = stronger movement.

5. Moving Average (MA)

Average price over a certain period. MA50 & MA200 are often used to detect trends.

Tips:

• Start from a higher timeframe (1D / 4H) to a lower one (1H / 15M)

• Focus on market structure & key areas

• Do not trade solely based on red/green candles

What is your go-to charting tool?

#Cryptochart101 #BinanceSquare #CryptoTips