Crypto Learn how to use crypto charts to pull successful trade in cryptocurrency

Lens1000

VIP Contributor
To learn cryptocurrency chart to pull a successful trade , you need not bother yourself with technical jargon. In this short article, I will try to use simple English and terms to explain the analysis of the crypto charts

Firstly, bullish movement is the upward movement/positive movement of the market price. The bearish movement is the downward or negative movement of the market price. The bears or sellers brings the market price down by selling their cryptocurrency. The bulls/ buyers pull the price up by buying the cryptocurrency.

If you want to read the chat clearly through technical analysis, you need to understand the DOW THEORY. The following are the vital indicators to take note of in Dow Theory

* the price of the cryptocurrency is arrived at by taking into consideration the present, past and future market details.

* the crypto market is determined by the prior, existing and upcoming variables . Also , you should also consider regulations in this category
*it shows the trend the price movement follows . The price movement could be short or long term.

I want you to comprehend these first . Then I will explain further in the next lesson.
 

Yugocean

Valued Contributor
Please do not create a next lesson, such thread will be locked, and possibly merged. Your title and first para is something else, never go away from what you are creating, this will be considered as unhelpful.
Even after your claim, there is no proper information to "use" the chart for "successful" trade.
Post your ideas below.
 

Mika

VIP Contributor
I think your assumption that "the price of the cryptocurrency is arrived at by taking into consideration the present, past, and future market details" is not true. The past and the current market cannot determine the future course. Crypto currency market is beyond comprehension, even the so called experts are also making just assumptioms.
 

Lens1000

VIP Contributor
I think your assumption that "the price of the cryptocurrency is arrived at by taking into consideration the present, past, and future market details" is not true. The past and the current market cannot determine the future course. Crypto currency market is beyond comprehension, even the so called experts are also making just assumptioms.
You are absolutely wrong there. There are variables that makes the investors behave the same way. If you take into account a variable that made the price move in a particular direction in the past, and such variable repeat itself currently, you can predict the future price movement correctly. Maybe, you are not technically equipped in that area.
 

Wisdom01

Valued Contributor
You are right I have once used past indicators to carry out a trade , so you could use past market to do your analysis because that is what give you insight on the behaviour of the investors and how they reacts to price movement , even if a change occurs there would still be some similarities when making use of past indicators and future indicators to carry out trade
 

Lens1000

VIP Contributor
You are right I have once used past indicators to carry out a trade , so you could use past market to do your analysis because that is what give you insight on the behaviour of the investors and how they reacts to price movement , even if a change occurs there would still be some similarities when making use of past indicators and future indicators to carry out trade
If you can improve on the indicators that you used for the previous predictions as you stated . You will be able to pull consecutive successful trades in forex. Some many people trade on instinct and that's why they lose almost all the time . This is very common in cryptocurrency trade. 80% of the cryptocurrency investors trade cryptocurrency because the price is increasing.
 

Wisdom01

Valued Contributor
If you can improve on the indicators that you used for the previous predictions as you stated . You will be able to pull consecutive successful trades in forex. Some many people trade on instinct and that's why they lose almost all the time . This is very common in cryptocurrency trade. 80% of the cryptocurrency investors trade cryptocurrency because the price is increasing.
Exactly many trade because of the rising price of crypto currency ,but to me I consider that as the best position to invest , because if you invest at the dip it might continue to dip further and the person would start having high regrets , so I prefer to invest when rising but make sure I dont lose lot of money from my trade and set my position well
 

Shaf

Verified member
If you want to use charts to trade crypto, you must understand first what makes up the charts and the tools that can be used to help you read the charts even better.

The most commonly used chart is made up of candlesticks. This is a very broad topic that you should take out time to learn. There is information to be learnt about the price from the individual candlesticks themselves and also from the patterns they form. For example, a doji could signal a reversal in the trend direction and you should be cautious at such points.

Another important thing every trader should use in my opinion is the major support and resistance zones. This is usually the area where a lot of stop losses are put and get hunted by market manipulators. People also place a lot of buy orders and sell orders here.

Indicators are helpful in reading charts, but some traders rarely use them. The key is to find the one that you find easy to use consistently.
 

Ithedicious

Valued Contributor
Thank you for sharing. If anyone is interested to trade cryptocurrency the most and the first thing they have to understand is candle sticks pattern and what each and every candlestick in a chart is all about and what it mean. That will be the first stage and after that I think you will be introduced to technical analysis or maybe fundamental depending on who your teacher is..

The information I am trying to pass across is that reading of candlestick and interpretation of what they mean only will not help you to trade the market perfectly but can also be as a guiding steps to know when there is a rejection and a pullback and to know when sellers are taking over .

What will help you to analyse the market perfectly will be your understanding of technical and fundamental analysis . That is where every secret and information lies
 

Squamation

New member
Crypto is relatively the newest market in the world. Which is why the volatility and fluctuation is too high. The market is not old enough to consider past prices for future probabilities. Moreover, as the value of crypto is not attached to anything materialistic in the real world, learning about its charts is more difficult than others. Usually crypto charts do not form patterns as proficient and always like forex, and other financial markets.
 
Top