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How to Read the Crypto Chart?

How-to-Read-the-Crypto-Chart

Trading cryptocurrencies and turning your Bitcoins into money requires the ability to read crypto charts. For making good crypto trades you need to know Dow Theory and Japanese candlestick charts. Every historical price, volume, and time interval is available in cryptography. A chart is used to observe investment opportunities in a digital currency based on its past price movements. By reading cryptocurrency charts, investors can identify market trends and predict the future price movements of an asset. Cryptocurrency Chart Patterns Only a few chart patterns have stood the test of time. There is no “proven” chart pattern that works better than another, unlike less subjective analytical tools. Following are the chart patterns available. Price Channels  Create a series of highs and lows by creating two ascending or descending parallel lines. Prices tend to bounce between these levels of support (lower) and resistance (higher). While most traders buy lower and sell higher, breakouts and breakdowns can be influential. Ascending & Descending Triangle  One horizontal line connects highs or lows, and a second sloped line connects rising highs or falling lows. In a right triangle, the price tends to break out or break down from the horizontal line in the direction of the sloped line. Head & Shoulders  The Head and Shoulders chart pattern is characterized by a temporary high or low, followed by a big move higher or lower, followed by an equal move higher or lower. It looks like a head with two shoulders that are either upside down (bullish) or right-side-up (bearish). Triple & Double Top & Bottom  It is called a triple or double top and bottom chart pattern when the market bounces off the same resistance or support level two or three times in a row. Bullish signals are considered double bottoms, while bearish signals are considered double tops. Double and triple patterns both indicate that prices are about to reverse directions. Rising Wedge & Falling Wedge  The slopes of the upper and lower lines of rising and falling wedges are the same (although they still converge). Rising and falling wedges are reversal patterns unlike ascending and descending triangles. Rising wedges are bearish while falling wedges are bullish. Candlestick Chart In cryptocurrency candlestick charts, time is shown on the horizontal axis, while private data is shown on the vertical axis. It’s important to note that candlesticks show whether the price movement of a market was positive or negative, and to what degree. Candlesticks consist of a body and wicks. The body of each candlestick represents the opening and closing prices, while the top wick represents how high or low the price of a cryptocurrency was during that period. Candlesticks provide users with a great deal of information through their simple structure. Candlestick patterns, for example, can be used to identify potential trend reversals. The bullish and bearish candlestick patterns should be recognized by cryptocurrency traders. Technical Analysis Statistical analysis refers to the study of trends gathered over time to determine how supply and demand affect a particular asset’s future price. Crypto market charts can help investors make informed decisions by letting them know when bullish and bearish movements will end. Bulls, the buyers of an asset, push the price up through bullish movements. It is the downward price movement caused by sellers or the bears. By analyzing price trends and patterns on charts, traders can find trading opportunities. Although crypto charts help monitor market movements, there are some caveats. To better understand technical analysis, one must be aware of the Dow Theory. Here are some key ideas: At the time of pricing, the market considers everything. Existing, prior, and upcoming details have already been accounted for in current asset prices. The crypto market is impacted by a number of variables, including current, past, and future demands and any regulations that may impact the market. Prices do not move at random. Most people follow trends, whether they are long-term or short-term. Analysts focus on the price of a coin rather than every single variable that influences its value.   Dow Theory rests on six fundamental tenets: Markets move in three directions A market’s primary movement is called its primary movement. Market trends can last anywhere from a year to several years. They can be bullish or bearish. Medium swings refer to the second or intermediate movement of a market. A medium time frame is between ten days and three months. A medium swing is based on the primary price change.  A short swing is a minor movement of the market. It is short-term speculation. Market trends have three phases During the accumulation phase, investors buy and sell the coin against the general perception of the market. In the public participation phase, also known as the absorption phase, the rest of the market follows knowledgeable investors. After the absorption … Continued

The post How to Read the Crypto Chart? appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Poll Suggests ECB May Wait Until Q4 to Raise Rates, Several Banks Expect a Series of Fed Rate Hikes This Year

Poll Suggests ECB May Wait Until Q4 to Raise Rates, Several Banks Expect a Series of Fed Rate Hikes This YearA recently published Reuters poll suggests the European Central Bank (ECB) may wait until the last quarter of the year (Q4) to raise its first interest rate in over ten years. The poll’s author details that after the conflict in Ukraine, “fewer economists” predict the ECB will raise the benchmark bank rate earlier. Moreover, a […]

Face Pay to Launch New Digital Currency

Face Pay Inc. – a firm that looks to help credit card companies avoid or eliminate third-party fees – announced it is unveiling its own cryptocurrency known as Face Pay Crypto. Face Pay Is Launching a New Crypto System The company made headlines roughly two years ago when it launched a new fixed-price subscription service....

The post Face Pay to Launch New Digital Currency appeared first on Live Bitcoin News.

2022 Will Bring The End Of Bitcoin’s Genesis Stage

The year is unfolding fast and while it appears that the price may lull, bitcoin will finally take the spotlight on the cryptocurrency stage.

How Much Do Data Scientists Make in 2022?

The data scientist salary - the past, the present, and a little bit of the future.

The Top 10 Crypto Telegram Channels

The way we communicate is changing. Nowhere is this more starkly shown than in the rise of instant messaging platforms, which have seen exponential growth in recent years. Picking up the phone to talk to someone is becoming increasingly rare, as more and more people use instant messaging apps to chat and share content. Phone […]

The post The Top 10 Crypto Telegram Channels appeared first on Coin Bureau.

Horizon Forbidden West Max Level Cap Confirmed

How high can you go?
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Industry 4.0 and the pursuit of resiliency

Downtime can cost a manufacturer upwards of USD 21,000 per minute. Fortunately, AI has evolved to accurately identify issues and take action. This advanced technology allows companies to easily add intelligent “eyes” to their operations with standard mobile devices — the same smartphones and tablets that you’re using right now. All to quickly identify defects […]

The post Industry 4.0 and the pursuit of resiliency appeared first on IBM Business Operations Blog.

Billionaire plans three more flights with SpaceX, culminating in Starship mission

Jared Isaacman, the billionaire businessman who bankrolled the first human space mission with all private citizens last year, announced plans Monday for up to three more SpaceX missions, a privately-funded program that will include the first commercial spacewalk, and ultimately a ride on the giant Starship rocket ship.

Trend Based Fib Extension Tool – LBLOCK Technical Analysis

The trend based Fib extension tool on Tradingview can be useful for predicting how high an altcoin or other financial asset can rally. Fibonacci analysis works [...]

XRP Price Surges – Is Ripple Winning The Fight Against SEC?

xrp-price-surges-–-is-ripple-winning-the-fight-against-sec?

Ripple, a Fintech company, makes substantial headway in its legal fight with the U.S. Securities and Exchange Commission. The XRP (the world’s seventh-largest cryptocurrency) issue will be resolved soon, according to CEO Brad Garlinghouse, who is optimistic about the case’s conclusion date. XRP continued a week-long surge in the market today that began after a…

The post XRP Price Surges – Is Ripple Winning The Fight Against SEC? appeared first on Bitcoin News Miner.

LINK Technical Analysis: The Growth Prospects by 120% 

LINK Technical Analysis: Selling Pressure Invites Bearish Reversal 

Sometimes a few millimeters can separate us from total failure. In such cases, the tension is maximum, because hope struggles with common sense. However, when fortune wins, we begin to notice prospects and positivity again. A similar situation may happen in the LINK market. In the weekly timeframe, it should be noted that sellers have tested the global trend line of buyers. This trend channel has worked well since April 2019. https://www.tradingview.com/x/4iwfOZm0/ If you look for the perfect point on the chart to buy in the medium term and with minimal risk – this is it. If buyers do not keep the $16 range, we will not expect a positive scenario in the LINK market. In this case, we expect LINK to continue to fall to $10. Though, given the good BTC price growth and the chance of a rebound in the whole cryptocurrency market – so far we delete the scenario of decline as the main one. Therefore, the LINK price increase to $36 is the main scenario in the medium term. Technical Analysis Of LINK On The Daily Timeframe If you look at the LINK situation on the daily timeframe, you can see how trading volumes began to increase in the range of $16. Although sellers managed to update the previous local low, it did not work. Buyers have shown interest in creating a false breakdown of an important range. The first target of the local growth wave is around $25. This mark shows the local trend line of sellers. If you look at the movement of LINK price from 7 to 11 January, you can see how high volumes of buyers failed to pass this range. Thus, while this mark is under the control of buyers – we can not speak confidently about global growth to the mark of $36. The LINKBTC Price Takes Off Rose-Coloured Glasses And Optimism https://www.tradingview.com/x/HuTuRSxv/ Starting in 2020, LINKBTC buyers cannot significantly bounce back from the 0.00042 range. Each time the rebound from this level weakens. If the new growth wave can not break the upper trend line of the triangle – then you should expect another global LINK fall wave by an average of 50-60%. In this case, buy LINKBTC should be from the mark 0.00017. Therefore, the movement of the LINK price in 2022 depends on the formation of the current local growth wave.

The post LINK Technical Analysis: The Growth Prospects by 120%  appeared first on Cryptoknowmics-Crypto News and Media Platform.

Week Ahead – Plenty more action to come

How aggressively will central banks raise rates? It’s been an incredible couple of weeks in the markets, one in which we’ve seen another hawkish move from multiple central banks, big swings in stocks on the back of earnings, and tensions around Ukraine intensify. The result has been very volatile markets and while the coming week […]
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