How to make Basic Bitcoin Technical Analysis
by monika r. ConsultantToday crypto traders use several methods to
estimate the cryptocurrency market. The two main approaches of price predicting
are fundamental analysis and technical analysis. Let's talk about the first of
them - called Technical analysis. Using this method, traders can get a better
understanding of the cryptocurrency market and separate trends on it. This data
can be used to make smarter predictions and better trades.
This method takes into consideration
Bitcoin analysis history including price charts and trading volumes. However,
the fundamental analysis is focused on establishing if Bitcoin is over or under
valued.
Methods for predicting price trends
Predicting price movements of anything
traded at an exchange is always risky – nobody wins all the time. Many traders
have lost lots or all of money into such attempts. So, the deep understanding
of this market is very important!
Where to find bitcoin price charts
To make technical analysis on bitcoin price
and its volume history, you will require price charts in a more representable
way than just plain number tables. Good places to start are the charts on
Getcrypt.com
Analyze cryptocurrency news
Using technical analysis, you can start
your trading. But there are a number of more important things to consider:
When considering entering a trade, it's not recommended to take your attention only on technical analysis. Especially in the cryptocurrency field, a field full of everyday generating bitcoin news, there are other fundamental factors that have a huge impact on the crypto market (ex: regulations, mining hash, ETF certificates etc.) Technical analysis simply can’t predict these important factors, so we recommend you to mix the technical analysis and the fundamentals analysis to make the best possible investments!
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Created on Jun 4th 2018 15:34. Viewed 323 times.