#CryptoCharts101 - Interpreting the Charts, Interpreting the Market 🧠📊

Being able to interpret the charts is one of the most beneficial skills a cryptocurrency trader can learn. In this #CryptoCharts101 breakdown, we will focus on the nuances of interpreting price action, candlestick patterns, and technical indicators to make informed rather than emotional decisions.

Being able to interpret the charts is a craft of not just price but also market psychology. For example, a bullish engulfing pattern could foreshadow a reversal in price while doji candles tend to signal indecision (ultimately leading to price action). If you can identify not only the candlestick patterns but the prevailing support and resistance zones, combined with indicators like MA, RSI, and MACD, you will develop a better understanding of price movements with regards to market sentiment.

Understanding price action in crypto is not easy because of the speed that crypto markets move in, but there are clues. Start interpreting charts with diligence and patience.