How Best Read the Cryptocurrency Charts

reading prize charts is an essential skill in crypto trading whether it's day trading swing trading scalp trading or stamp trading for your collection if you're into that kind of thing you had a stamp collection crypto is known as a high volatility Asset which makes its price fluctuate unpredictably in a wide range which is the reason you can make money on it in the first place so it's crucial to know how to read crypto charts properly especially for beginner traders who wish to start making fortunes from this gold mine so today we're going to talk about cryptocharts and explain to you what all those lines numbers and odd shapes are let's get it welcome to bitboy crypto the hardest working channel in all of cryptocurrency if you're new hit that subscribe button check the description for links you can use to connect with me in the bit squad all right guys no more waiting here we go on the adventure to discover the secrecy of cryptocharts so hop on the bus as you guys may know if you follow this series reading charts is a basic technique of technical analysis in which traders will rely on historic statistics and metrics to analyze market movements looking at all these confusing lines and shapes seems daunting at first but don't worry it's not that difficult to digest if you know where to start and i'm here to show you every tip that works cryptocharts can be displayed with various time frames depending on your intention you can choose to sort out a graph for 15 minutes one hour 24 hours the whole week or all the existence of a project it also reflects your trading style day traders often concentrate on short periods so they can extract the best shots within the same day swing traders may want to look at a longer duration for example a couple of days or a week to detect price moves while long-term investors may look at periods of months or years there are different ways to visualize cryptocharts so you should get familiar with that price can be displayed in a simple line which merely describes price changes during the selected time line charts are divided into two types logarithmic scale and linear or aka a rhythmic scale the linear scale represents price changes in absolute values while the log scale draws the reversal in percentages sometimes these two lines look a lot alike the only difference is the vertical scale price in linear while in log charts the price scale is amplitude of the total price you can also look at below these charts combined with a price chart volume if you notice both the price and the if the price goes up paying attention candlestick charts not only price moves and volumes but price trading the bull market has two typical lines on the top the top of the line movement you can look at a market depth market in this chart the green area at that current price sides is the current market price a closer look at the specified price merely view the line chart or candlestick chart in a single day the support line is used to point out bounce back and push the price back up on the other hand the resistance line line indicates the lowest price so and resistance is the highest price in a lines by connecting different averages in market price main line is generated from the plus there is a signal line from a 9 day positive macd line above the zero lines line is above the signal line the moving average line moves closer to which are illustrated by two lines in theory when rsi line crosses the upper or lower line it blows a whistle does the market buying or selling orders rebound and push the price back to the for analyzing crypto prices what other