#CryptoCharts101
Do you know what to use them for? I use them as antidotes to FOMO and FUD.
Charts are fundamental tools in cryptotrading, as they allow for the analysis of historical price behavior and prediction of future movements. Their correct interpretation improves decision-making when buying or selling assets. Three key aspects to keep in mind:
1. Trend: identify whether the market is rising, falling, or sideways. Following the trend helps to avoid trades against the general flow.
2. Support and resistance: areas where the price tends to bounce or break. These areas mark critical levels for entering or exiting a trade.