Digital currencies have become one of the most profitable businesses in society and many people are trying to make money from it. But most people face failure and loss of their capital in the digital currency market. At this moment, you might be wondering how you can easily make money from the cryptocurrency market. As you know, the digital currency market is a competitive market, and delay in this market sometimes causes you loss, and you have to decide to buy or sell at the moment. Digital currency technical analysis training is a subject that will help you understand the market and achieve profit. In the rest of this article, we are going to teach digital currency technical analysis and teach you how to analyze the digital currency market.
Digital currency technical analysis training
Digital currency technical analysis training is one of the things that must be taken care of before starting investment and entering the digital currency market. Digital currency technical analysis means the detailed study and examination of centralized financial markets and the amount of supply and demand in these markets. Digital currency technical analysis will help investors to invest and start successful transactions. Therefore, if you want to become a trader who logically looks at the ups and downs of the digital currency market; Join us in the continuation of the digital currency technical analysis training article.
What is technical analysis in digital currency?
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As we stated in the digital currency technical analysis training section, technical analysis studies the amount of supply and demand in financial markets. But prices do not always change based on supply and demand in the digital currency market, and sometimes prices change based on the performance of big investors. On the other hand, the prices of assets in financial markets are not always based on their real value and may be more expensive or cheaper than their real value. Digital currency technical training will help you to understand these changes and make better and more logical decisions in these conditions. People can also learn the way and methods of technical analysis by working in the market, but this method is appropriate and you may lose your assets.
Technical analysis helps people to logically analyze price movements and trading volume and to analyze digital currency price movements and changes. You are probably familiar with the topic of history repeating itself. Keeping this in mind also allows you to guess the price of digital currencies based on what has happened to them in the past. For example, Bitcoin digital currency, which has taken a downward trend these days and its price is decreasing, this happened exactly 4 years ago, in 2018, for this digital currency.
In general, the idea of digital currency technical analysis includes the use of chart patterns and indicators based on past price actions. Financial markets behave according to a series of specific patterns, which after being on that path, the same process is followed for a period of time.
Digital currency technical analysis training sections
Investors enter the market with the goal of profiting and selling their assets when they are at their highest value. Performing digital currency technical analysis before entering the transaction is one of the ways to identify the possible prices of digital currencies in their highest or lowest state. The technical analysis of investors is different from other people, and someone may decide to exit the market at a certain time, but another person may decide to invest more in that digital currency at the same time. Therefore, there is no single method for technical analysis of digital currency and every investor analyzes the market according to his knowledge and trading strategy. The parts of digital currency technical analysis training are as follows, each of which will be briefly explained below.
Basic concepts of digital currency technical analysis
Getting familiar with the concepts and philosophy of technical analysis is one of the most preliminary parts of digital currency technical analysis training, which we will discuss in this section. Therefore, understanding the basic concepts of technical analysis is a part of learning and analyzing the market, which helps you to make the right strategy. If it is difficult for you to understand these issues and read this amount of material, you can buy the digital currency training package.
The basis of technical analysis
Analysis or technical analysis is repeated based on 3 principles of history, the movement and trend of prices and the impact of events on prices.
- History repeats itself: Studying and examining what has happened to a digital currency in the past will help us predict its trend in the future.
- Price movement and trends: Digital currencies usually follow a trend in the market and are not interested in changing; That is, if it is in an ascending state, it will continue in the same state.
- Effects of events on prices: all the events that happen in the world, including political, economic, and social, are effective in reducing or increasing the price of digital currencies.
In the digital currency market, 3 trends can be obtained from their charts, upward trend, downward trend and neutral trend.
- Uptrend: This trend, which is also known as Bullish Run, shows the high demand for buying and its overcoming the supply.
- Downtrend: A downtrend, also known as a bear run, indicates that the volume of selling demand is high and has overcome the buying and supply demand.
- Neutral trend: In this case, there is a balance between supply and demand.
Support and resistance levels
Support and price levels affect the increase or decrease of prices, and also overcome the buying and selling pressure. Another name for those levels is return, because there is the ability to transform into each other in this case.
Digital currency technical analysis charts and graphs
There are various charts and graphs to show the trend of digital currencies, each of which has its own characteristics. Bar Chart, Line Chart and Candlestick Chart are the most famous of them.
descending and ascending (trend line)
In the graphs, by connecting the price points of the ceiling and floor of a digital currency, its trend lines can be drawn. These lines show us the state of the digital currency in question, its upward and downward trend. To validate the drawn lines, you should pay attention to factors such as average distance, collision frequency, trend line length and trading volume.
Chart patterns of digital currency technical analysis
Chart patterns are one of the issues that you can recognize when the price changes. This pattern is divided into two categories: continuation and reversal, in the first case, the digital currency follows the same upward or downward trend. But the return patterns, the upward and downward trend will change in such a way that if it is upward, it will take a downward trend.