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When you get involved in the crypto industry, it is very likely to start searching for Bitcoin charts. It is even likely that at some point you might try playing with leverage. Thus you will need to search for trading ideas.
In the beginning, it is very likely that you will look at the charts and will not understand anything. By not knowing how to read and use indicators you will most likely end up just guessing where the market may go, which is no different than gambling.
Building up knowledge with research
Different strategies and actions work for differently each one of us. Some would prefer strategies that point to exactly the opposite of the majority. As some individuals like to call themselves contrarians, which said in a simple language is that in some cases they prefer to trade against the opinion of the majority.
Reading ideas and analysis is very important if you want to have successful and educated sessions while trading and investing, however, it’s important to distinguish other people’s trading ideas from reality and take it with a pinch of salt.
Where to find Bitcoin charts and trading ideas?
Everywhere you can share ideas, opinions, and analysis is worth checking out. Building a sizeable library from information that can definitely help you make a more informed choice or simply compare your own opinion to the predominant one should serve as a reality check every now and then.
We strongly advise against paying any telegram “guru” for signals or blindly following guys on social media. Use other trading ideas only to educate yourself comparing it to your own ideas.
Why it is so important for you to learn to read charts?
Because it’ll let you understand the fundamentals behind the market together with its behavior and cycles.
When you are wondering about short term analysis you can always use Tradingview. It is a community sharing platform for traders and investors. There is a wide range of options for which you can do charting and read a different analysis. You will end up using it a lot if you decide to start day trading on leverage trading platforms like PrimeXBT or Bybit.
If you don’t know how to read and recognize the basic indicators you are going to do lots of mistakes.
Start by reading about some of the most important indicators such as RSI, Ichimoku clouds, MACD, Fibonacci retracement, etc…
Start building your knowledge and join a community, it is bound to make you a better trader and investing. Share opinions and personal analysis, don’t be afraid to express your opinion.