#CryptoCharts101
Steps to Learn Chart Reading:
Understanding Types of Charts:
Candlestick Charts: The most commonly used in market analysis, showing price movement over a specific period.
Line Charts: Display price movement using a simple line connecting closing points.
Bar Charts: Show the opening, closing, highest, and lowest price for each period.
Recognizing Technical Indicators:
Moving Averages: Help in determining the overall market trend.
Relative Strength Index (RSI): Measures the momentum of price movement to identify overbought or oversold conditions.
Volume: Used to analyze the strength of the current trend.
Analyzing Candlestick Patterns:
Such as Hammer and Engulfing Patterns that indicate potential reversals in direction.
Practical Application:
Use a demo account to practice reading charts without risking capital.