How important is it to understand the charts for investing in any cryptocurrency? Can or should you invest without knowing them?

[Queentener]

Indeed bitcoin after reaching $52 today at this hour is at 46,864.91 US$, which surprised more than one. The other currencies usually follow, we just have to be patient and wait for it to stop.

That's over 6000 us$ reduction, this is really bad, no wonder person are complaining on twitter saying bitcoin is shedding tears, I now understand why they said that.

 

[Sariana23]

That's over 6000 us$ reduction, this is really bad, no wonder person are complaining on twitter saying bitcoin is shedding tears, I now understand why they said that.

Certainly that's money and of course desperation sets in. But there is no choice but to wait or withdraw the capital at a loss. It is when I think that you must have knowledge in the charts and follow them very closely to not go through that bad moment.

 

[Snazzy001]

If you do this, then I take it that you really don't know what you are doing or and you should be classified among those who have taken the biggest risk so far

 

[Ub40]

Actually, it is very important to know how trading charts work but it rather unfortunate that it seems complicated for one to understand. Personally, I don't trade though, but I believe it is still important even to those just holding coins. It is really for one to try and know how it works. It is just my opinion. Thanks for sharing.

 

[Sariana23]

Actually, it is very important to know how trading charts work but it rather unfortunate that it seems complicated for one to understand. Personally, I don't trade though, but I believe it is still important even to those just holding coins. It is really for one to try and know how it works. It is just my opinion. Thanks for sharing.

Thanks for your opinion @Ub40, it is true that it seems complicated, but if we study it correctly, we will surely understand it correctly, now I still have a long way to go but with perseverance and effort, I will surely understand it clearly.

 

[Kelly5]

Wether you as a cryptocurrency trader is a swing trader or day trader, the chats is a lifeline for you in carrying out your trade decisions on the cryptocurrencies trading floor in both spot or future market. The chat is just too important here

 

[tuna89]

Understanding the trades and markets using the necessary tools stated above is very important and has to be well mastered, the signals are also important as well.

 

[Monster Masterpiece]

Understanding the trades and markets using the necessary tools stated above is very important and has to be well mastered, the signals are also important as well.

You need to pay for courses to understand trades and markets for short period of time because there is many hidden tricks inside the graphs to learn out before start trading, searching alone take a lot of time.

 

[btaliat]

Te only thing that is stopping from investing into crypt trading is the fact that I have not learnt how to read those chart. I want to know how to my entry point and exit point.

 

[Tochi]

I have a small investment in cryptocurrencies but I don't know the charts well. Many recommend following them to know when to make a wise decision. While I understand that it is a curve that goes up and down according to supply and demand, I don't know more than that, so I would love to know your opinions and insights.

Going into crytocurrencies world without understanding the charts as to such business might invariably lead one into loss. It is important to understand these charts, as it is important to understand the nature of a physical business, before going into it.

 

[Sariana23]

Going into crytocurrencies world without understanding the charts as to such business might invariably lead one into loss. It is important to understand these charts, as it is important to understand the nature of a physical business, before going into it.

With the posts of the members and yours I have understood that I should limit myself in the long or short term investment in cryptocurrencies, until I have more knowledge in everything related to these, thanks for the suggestion.

 

[mcjerry]

There are some strategy that involves the chart. Like I do use candle chart to study the market and to know when to buy and sell sometime. Sometimes when there is three candle that moves consisten in a direction then a trade will be placed in that direction

 

[Trexxxy]

True, it is important to have a handle or an understanding of the charts to be able to tell or predict how the prices of crypto might be. Also these charts are important for trading as well.

 

[Sariana23]

There are some strategy that involves the chart. Like I do use candle chart to study the market and to know when to buy and sell sometime. Sometimes when there is three candle that moves consisten in a direction then a trade will be placed in that direction

I have read several information and articles related to the candlesticks on the charts, as you describe. According to the slope of these you should make the right decision for your own benefit.

 

[mcjerry]

I have read several information and articles related to the candlesticks on the charts, as you describe. According to the slope of these you should make the right decision for your own benefit.

Sometimes we should not make decision with what we see on the candle chart. But we need to have a strategy. Because of we are not careful with the reading, we might loss our money

 

[Sariana23]

Sometimes we should not make decision with what we see on the candle chart. But we need to have a strategy. Because of we are not careful with the reading, we might loss our money

This is new to me, I read the opinions of the members in order to learn, ask questions and clarify doubts. However, I do not always make decisions, since some publish with experiences, and others just to add spaces and generate profits. That is why I am always very careful. Thanks for your warning @mcjerry.

 

[Dagm1]

Understanding as well as utilizing the graph is actually definitely for crypto investors that are actually certainly not spending however trading. If you wish to spend for a very long time you truly do not require the graph however if it is trading you truly require the graph as well as you have to discover it.

 

[Snazzy001]

I think shots serve as a kind of guideline to knowing what can possibly happen in future with a particular coin or currency. So it is important to know the charts before investing so that you don't regret at the end of the day

 

[Sariana23]

Understanding as well as utilizing the graph is actually definitely for crypto investors that are actually certainly not spending however trading. If you wish to spend for a very long time you truly do not require the graph however if it is trading you truly require the graph as well as you have to discover it.

I think at the end of the day, it's good to learn. Some people think the same as you, if it is long term investment it is not necessary but it is fundamental when trading cryptocurrency. Others think I should learn in either case.

I think shots serve as a kind of guideline to knowing what can possibly happen in future with a particular coin or currency. So it is important to know the charts before investing so that you don't regret at the end of the day

Exactly, I understand that the charts are a guide to make the right decision at a given time. Therein lies their importance, although many only see the prices, if they go down they invest and if they go up they withdraw.

 

[Kelly5]

Understanding the chats before investing in the cryptocurrencies market business is a very important aspect that you shouldn't take for granted. And you shouldn't be investing If you have not actually taken a look at the chats