📊 Learn to read crypto charts and make better decisions 🚀
If you want to invest or trade in cryptocurrencies, knowing how to read charts is essential. It's not just about seeing the price go up or down, but about interpreting signals that help you decide when to enter or exit.
🔹 1️⃣ Japanese Candlesticks
Each candle represents the price behavior over a specific period (1h, 4h, 1D).
• The green candle indicates that the price went up.
• The red candle indicates that it went down.
Look for patterns like "hammer" or "engulfing" to anticipate trend changes.
🔹 2️⃣ Supports and resistances
• Support: level where the price tends to stop and bounce upward.
• Resistance: level where the price tends to stop and retreat downward.
Example: $BTC has strong support around $65,000 and resistance near $70,000.
🔹 3️⃣ Trends and moving averages (EMA)
Moving averages help identify market direction:
• EMA 50 < EMA 200 = bearish signal
• EMA 50 > EMA 200 = bullish signal (golden cross)
🔹 4️⃣ Transaction volume
An increase in volume confirms the strength of a movement. If the price rises but the volume is low, the signal is weak.
💬 Comment: Which of these concepts do you find hardest to understand?
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