The previous week, I focused on understanding the RSI and on observing how its reading changed across three timeframes: 5 minutes, 15 minutes, and 1 hour. Understanding each part helped me train my eye better and observe the charts with a bit more order. The next step was to get closer to the Japanese candles. At first I saw them mainly as green or red bars. Then I understood that each candle summarizes more information: Where the price opened. Where it closed. How high it reached. What path it took during that period.
Bollinger Bands not only help you see whether price is above or below. They also help you notice how much space there is between the average and the extremes of the move.
When the bands spread out, the price is traveling through wider ranges. When they come closer together, the recent movement appears more restrained.
That doesn’t tell me where price will go, but it does help me describe what’s happening on the chart more accurately.
I start to see the bands as a way to measure the amplitude of the move, while the RSI helps me gauge its recent strength.
The lower wick of a SOL/USDT candle caught my attention.
On the 1H chart, there is a candle that reached approximately 95.82, but then it closed higher. That part that sticks out shows that the price hit a lower level during the hour and then recovered part of the move.
I still don’t want to interpret it as a signal. For now, I’m trying to understand what information the wicks, together with the candle body, are telling.
I looked at the body of a SOL/USDT candle and realized it’s not just a green or red bar.
That body shows the distance between the opening price and the closing price. If it’s green, the price closed above where it opened; if it’s red, it closed below.
It may seem like a basic detail, but it’s part of learning to read cryptocurrency charts without turning every candle into a signal.
Last week, I focused on understanding how the RSI indicator works and observing it across three timeframes: 5 minutes, 15 minutes, and 1 hour. Understanding each part of that reading helped me train my eyes better and gradually develop a more orderly way of observing the charts. I also noticed that the RSI 6 reacts faster to recent changes, while the RSI 14 moves in a more stable way. Neither is a complete answer on its own, but both can offer a different perspective on the movement.
During this week I kept using SOL/USDT as a reference to observe how the reading of a chart changes depending on the timeframe and the indicators. On Monday I compared the same movement across 5 minutes, 15 minutes, and 1 hour. In 5 minutes there are more small changes and noise. In 15 minutes the path looks more orderly. In 1 hour you lose some detail, but the context carries more weight. The 1H chart was easier for me to read because each candle summarizes a full hour. Even so, a cleaner view doesn’t mean it lets you know what the price will do next.
Last week I compared SOL/USDT across three time frames: 5 minutes, 15 minutes, and 1 hour. I kept the configuration I already had prepared, with RSI 6 and RSI 14, to observe how the reading of the same movement changes. These were the recorded values: 5 minutes: RSI 6 at 54.30 and RSI 14 at 51.69. 15 minutes: both around 57. 1 hour: RSI 6 at 61.87 and RSI 14 at 56.37. It still feels strange to me that the same indicator, on the same pair, shows different readings depending on the time frame. Then I understood that each chart summarizes the movement differently:
What Did I Learn This Week About Pairs, Orders, and Charts?
This week I kept learning about cryptocurrencies from scratch and confirmed that there are many basic concepts that I still need to understand better. At first I was trying to understand trading pairs, like SOL/USDT. Now I understand that a pair relates two assets and shows how much one is worth relative to the other. If SOL/USDT is at 100, it means 1 SOL is worth approximately 100 USDT at that moment. But the price alone doesn’t tell me whether it will go up, go down, or if it’s a good time to buy. To better interpret a pair, I also have to learn to observe the chart, the volume, and price behavior.
I’m trying to understand two basic concepts of charts: support and resistance.
As far as I understand it, support would be an area where the price has found buyers previously.
Resistance would be an area where the price has found sellers.
I’m still trying to identify these zones correctly. I’m also learning that they are not exact walls and they do not guarantee that the price will bounce.
For now, I see them as references that can help me observe the market’s behavior more closely.
This is what I’m doing; it’s not financial advice.
Today I want to observe Solana a bit more closely.
So far I have seen it within the SOL/USDT pair, and I’ve noticed that a lot is being said about this project, but I’m still trying to understand what’s behind that interest.
I don’t want to confuse popularity with a buy signal. For now, my goal is to learn what SOL is, how its price moves, and how it behaves within a trading pair.
This is what I’m doing; it’s not financial advice.
What is a trading pair and why I'm still learning to interpret it?
One of the first things I'm trying to understand on Binance is what a trading pair really means. For example: SOL/USDT This pair relates two assets: SOL, the base asset. USDT, the reference asset. If I see that SOL/USDT is 100, it means that 1 SOL is approximately equivalent to 100 USDT at that moment. The price only tells me how much one asset is worth compared to another. It doesn't automatically tell me: If the price is going to go up. If it is going to go down. If it's a good time to enter. If there is a buy signal.
Yesterday I discovered that Binance has a section called Test Trading.
It lets you practice trades using fictitious money, like a demo account to get familiar with the process without risking real funds.
I haven’t tested it thoroughly yet, but it seems interesting because it could help me understand how orders work before thinking about trading for real.
I think practicing without pressure can be a good way to learn.
Has anyone used Binance’s Test Trading?
This is what I’m doing; it’s not financial advice.
My first week posting on Binance Square: what I learned
This week I started posting here. I didn't know what to expect. This is what I learned in 5 days: The community is more kind than I thought. Being honest about what I don't know works better than pretending. Posting at the same time every day helps people to see you. Replying to comments generates more comments. I still haven't reached the minimum to trade, and that's okay: I'm still building up capital with WOTD without rushing. My balance is still small. But my knowledge grew more than the balance, and for me that's already a win.
I found out why I still can’t do trading (and I think it’s useful for other beginner traders to know)
I was curious to see what it feels like to buy something in spot, so I went into the app to look at the BTC chart. When I checked how much I would need to buy, I ran into something I didn’t know. Binance has an order minimum of 5 USDT. If your balance is below that, the system won’t let you open any trades, no matter which coin you choose. I still haven’t reached that minimum. So for now I’m sticking with what I’m doing: Gathering capital little by little with WOTD. Looking at charts without buying anything yet, just to get used to it.