Crypto-03-A

Technical Analysis: Everything YOU NEED TO KNOW!!

https://youtu.be/lW3eWIj3Q04

DOWNLOADED ….

🔥 TOP Crypto TIPS In My Newsletter 👉 https://guy.coinbureau.com/signup/ 📺 Technical Analysis Part 2 https://www.youtube.com/watch?v=9_Bs5… 📺 Technical Analysis Part 3 https://www.youtube.com/watch?v=DW6si… 📲 My Socials 👉 https://guy.coinbureau.com/socials/

What is Technical Analysis❓ Technical Analysis is based on human psychology, namely emotions like fear and greed. It posits that these emotions are ultimately what drive prices up or down, and that these emotions create visible patterns which repeat themselves. This means that with the right methodology, the future price action of an asset can be predicted using technical analysis. Technical analysis was invented almost 300 years ago by a Japanese rice merchant name Hunma Munehisa, who is believed to be the most successful trader of all time. He wrote the first book on market psychology, and the principles he defined continue to be used in technical trading today. Since his time, many technical indicators have been invented to further enhance technical analysis trading. 📈Technical vs. Fundamental Analysis📉 Technical Analysis focuses exclusively on price and does not pay much attention to fundamentals. For cryptocurrencies, fundamental factors include things like tokenomics, network activity, the strength of the project’s development team, and any notable partnerships the project has. These fundamentals are often used by HODLers and more experienced traders to gauge the long-term price potential of an asset. Given that the average cryptocurrency trader is irrational, many believe that technical analysis is more effective than fundamental analysis for this reason. As a rule of thumb, technical analysis should be used for shorter term trading whereas fundamental analysis should be used for long term trading. A combination of both is necessary to ensure a clear picture of the cryptocurrency you are trading. 🤷‍♂‍How To Use Candlestick Charts🤷‍♂‍ Technical trading centers around candlestick charts. Each candlestick consists of a body and a wick, and each candlestick marks a single unit of the period you have set the chart to (e.g. 1 hour, 1 day). When you see a candle with a long wick at the top, it suggests that traders are taking profits and price could drop. When you see a candle with a long wick at the bottom, this suggests that traders are buying the dip and price could pump. Support and resistance lines can be drawn using the tops and bottoms of candles within a given timeframe. These reveal various shapes, most notably triangles, that have been used for hundreds of years to predict future price action. 📊Trading Volume📊 Trading volume is used to confirm the strength of a price trend. If price is quickly moving up or down but the volume is dropping, the trend is not very strong. A high amount of volume as price changes confirms that a breakout to the upside or downside. 📍The Best Technical Indicators📍 The MACD, the RSI, and Bollinger Bands are some of the most popular indicators in cryptocurrency trading. Moving averages allow you to spot possible support and resistance points as well as forecast future price activity. The RSI helps you determine whether an asset is overpriced or undervalued. The Bollinger Band indicator tracks the price volatility of an asset, occasionally revealing when you should buy or sell depending on whether the price has gone outside/below or outside/above of the Bollinger Band range, respectively. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~