If you are with crypto currencies, the first question is that you are confronted, how well they are prepared, as it alone decisive factors determine if they make money with the trade or not. The most important fact that you need to consider is that you have to have access to the latest trading tools such as Bitcoin Priermarts, Fibonacci Point Traders, etc.
Many traders and experts argue that profitable long-term trade is only possible with the help of the right trade instruments. In addition, traders must be trained and know how to use these tools. Part of the initial training of a dealer should include learning the reading of bitcoin charts.
Here, it should be understood that bitcoin charts are a graphical representation of price movement in time and represent the beginning and the basis of all technical analyzes. In addition to the fundamental analysis, technical analysis becomes the most useful trade method. Many traders believe that technical analyzes are better than basic for business purposes.
Discover the Bitcoin Preischarts
Traders believe that technical analysis is the method of applying formulas and measurements to a bitcoin price chart to predict what the market will do in the future. It goes without saying that there are many good books on this topic. However, the best tool nowadays are videos and clips on YouTube, in which a lot of information is provided.
It goes without saying that dealers should be aware that there are two main types of price and timing charts used by professionals. Together they are that both show the opening price, the high price, the low price and the closing price. The time frame you draw depends heavily on the choice of the operator.
Use the bitcoin price diagram for predicting price movements
Each price chart will be used for one purpose, namely to know where prices go. There are bar graphs that look like long or short vertical lines, with a small horizontal line on the left side and a small horizontal line on the right side. Then there are the Candlestick diagrams showing a long or short body with a small line, which sometimes extends from top to the outside.
Candlestick charts are commonly displayed in colors, usually in green, which means that the price has risen in this period, and in red, which means that the price has fallen during this period.
