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Cryptocurrency Spotting Tendencies: A Beginner Guide That Uses Price Analysis
In the world of cryptocurrency, trends are a crucial aspect of investments. While the Technical Indicators can provide valuable insights, price analysis offers and more intuitive way to identify trends and make informed investment decisions. Cryptocurrency trends.
What is Price Analysis?
Price Action Analysis is a method that focuses on the Visual Behavior of prices during market hours, rather than relying exclusively on technical indicators such as graphic and oscillators. It is not indicative of future.
How to use the Analysis of the Prices in Cryptocurrency
The analysis of the policy prices in cryptocurrency, follow these steps:
- Select a cryptocurrency : choose one or more cryptocurrencies in which you are interested in investing. Popular Options include Bitcoin (BTC), Ethereum (ETH) and others.
- Open and Graphic Platform : Choose a reliable graphic platform that supports multiple currency couples. Some popular options include Binance, Coinbase and Kraken.
- day). This will help you view the management of the market.
- Identify the support and resistance : use the trend line to identify the area These are generally called support levels for purchase and resistance levels for sale.
. This may indicate that the trend could reverse, reporting a potential purchase or sale opportunity.
6.
7 These can be followed with caution, as they can indicate a potential inversion.
Models of Action of Common Prices
1.
2.
- Trendy Reversal Models : like the hammer, the shooting star or the upward deception.
Tips and Tricks
* use more time : Analyze the action of prices on different times (eg 1 hour, 4 hours, 1 day) to identify the trends that may not be visible on a single graphic designer.
* Pay attention to the volume
:
* Being aware of the market manipulation : The analysis of prices should not be used as a means of manipulating the market. Always conduct in -Depth Research and consider multiple sources before making investment decisions.
Conclusion
Cryptocurrency markets, allowing investors to identify trends and make informed decisions By applying these techniques,
Risks and is essential:
- Always Do Your Searches
- ESTABLISH LIGHT INVESTMENT OBJECTIVES AND RISK TOLERANCE
- Never Invest again than you can allow you to lose
Happy Charting!
