Hello guys this is my part 2 on crypto trading if you have not seen my part 1 please visit my profile so lets go on......
WHY DO WE NEED TO DO TECHNICAL ANALYSIS
- Technical analysis are ways of analyzing and decrypting price and crypto charts.
- Price action Trading tries to understand what traders and investors are doing who drives the market who is in control and what might happen next.
TOOLS FOR ANALYSIS
- LINE GRAPH
- CANDLESTICK GRAPH
In this whole series we are going to talk about candlestick analysis that are used by professional traders and experts we will talk about types of candles in graphs and much more in our further blogs
WHAT IS CANDLE STICK
- Candle sticks tell us about the behaviour of market .
- It tell the direction of movement of market
TWO TYPES OF BASIC CANDLE STICKS
In the above pic you can see bullish and bearish candle stick
BULLISH means that the price is going up
BEARISH means that the price is going down
OPEN means that the market started from this point
CLOSE means that the market ended from this point
HIGH means the maximum price of the coin at that period of time
LOW means the minimum price of the coin at that period of time
BROAD BAR is called the body
THIN BAR is called the line
It can be clearly seen that Bullish is opposite of Bearish
in the next blogs we will study the types of candlesticks like Doji,Spinning top,Hammer,Inverted hammer,and many more