"CryptoCharts101" is an educational initiative within Binance Square designed to teach cryptocurrency traders how to read and use charts effectively to make informed decisions. The content is presented in the format of posts and visual guides, with a simple and straightforward format:
Fundamentals of Japanese candlesticks: Each candle represents a period of time (day, four hours, etc.), showing "open, close, high, low" and distinguishing green candles (bullish) from red ones (bearish)
Trend identification: Teaches how to detect bullish trends (higher highs and higher lows) and bearish trends (lower highs and lower lows) to avoid trading randomly.
Support and resistance: Explains how to mark areas where the price tends to bounce or reverse, key to spotting opportunities binance.com+4binance.com+4binance.com+4.
Chart patterns: Highlights the importance of figures such as triangles, head-and-shoulders, or double bottoms/tops as signals of continuation or reversal.
Technical indicators: Shows how to use tools like RSI (overbought/oversold), MACD (momentum), and moving averages (Golden/Death Cross), always as a complement, not as the sole guide.
Volume: Emphasizes its use to confirm price movements; a large volume validating a strong candle indicates conviction in the market.
Final recommendations: Advises against trading on emotion ("buy at the top, sell at the bottom"), validating patterns, using stop-loss, and protecting capital.
