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Standard trading view of Bitcoin chart to USDT on a daily chart.
This is a standard BINANCE trading view chart. today we will start from left to right top to bottom. At first it may look a bit over-whelming but in reality its very simple to read once you get a grip and you start looking at the charts on a daily bases.
lets begging: on the top left you can see the ticker BTC/USDT and the actual price of Bitcoin at that time 39,216.41 in Red or Green or white
next to that on the right: you see the 24h change: which indicates how much the price has gone up or down in the past 24hrs +3,499.17 with a % of +9.80%
on the right of the 24hrs change %. You have the 24hr High or 24hr Low
24hr high indicates: How high the price has gone up in the past 24hrs from the open at 00:00hrs midnight. example (39,920.00k)
24hr Low indicates: how low the price has gone down in the past 24hrs from the time it opened at 00:00hrs midnight. example (34,031.00k)
on the right of the 24hrs high and low you see 24hrs (BTC) volume for Binance to be sold or bought 161,033.42 BTC available
and last on the top left you see 24hrs volume of (USDT) that is being bought on invested on that coin in USDT Tether coin. example (5,988,535,135,.49Usdt)
this is something you always want to take a look at before you start your day, you want to see if the coin is closer to the high or the low before you start your trade. Even if you are trading on a daily, hourly or by minutes 1,5,15,30 Min. A good trader always checks to see if the coin is performing the right way for a trade. that ticker on the top will tell you everything you need to know.
On the next bar down top left you have what is called your trading time views: 1M=Monthly chart view, 1W= weekly chart, then you have your daily views 3 days, 1day, then you have the option to trade on the hourly views 12hrs, 8hrs, 6hrs, 4hrs, 2hrs, 1hr and then you have your minute views 30m, 15m, 5m, 3m, 1m in small letters or low caption. what is recommended is to look at your chart from the monthly down to one minute. So you have the right picture of how well your crypto has been doing the whole month to the day or hour.
"you don't want to jump into a trade to soon and then say that you were buying on a down trend and make a big mistake, and don't worry it happens to all of us at the beginning when we start. We are told to buy low and sell high, then the coin tanks and you are like what just happened"
well there are many factor that come in to play.one that you need to take in mind is the indicator. indicator are your best friends. That is the small box with the levels that's on the right of the time view. your indicator charts or formulas are the basic indicators are usually used in trading= RSI, MACD, MA, EMA, BOLL, VOL, KDJ. these indicator will help you read the movement of your coin on the screen. on the next educational article I will explain the use case for each indicator today we are doing a overall view.
then on the left of the screen you have your personal tool drop tools box here you find tools to help you draw on the screen, lines for your trend triangle shapes and other indicator that help you with a better understanding of what the coin can do. Whether it may go up or down. now keep in mind that crypto is an algorithms charts were the computers are way smarted than you are, by a million so don't think for a minute that you have control for you can only predict what can happen. Either up or down, but the crypto market has its ways to make you look like a noob every time so don't be to hard on yourself. if you are starting out it takes time and practice and no trader is 100% right all the time. the best traders work really hard on figuring out the down trends and thats the difficult part, cuz then you know when is the best time to get out right before the crash. hope this was helpful if you are new to chart reading next article i will go into more detail and how to use the indicator and what indicator i use to make my trades and prediction.
Jose Cruz
The Money Making Machine
