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

[Senator]

Understanding the chats have always been the lifeline of any trading system you can think of, be it the forex market or the cryptocurrency market or the stocks market. Chats always govern these trading platform.

 

[Sariana23]

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

Understanding the chats have always been the lifeline of any trading system you can think of, be it the forex market or the cryptocurrency market or the stocks market. Chats always govern these trading platform.

This has been recommended to me a lot, I must analyze the charts before making the decision to invest. Although a large majority just by looking at the prices, they already know what they should do and how much they are going to risk. I because I request payments in litecoin and they go directly to the portfolio, when I have seen that the price has fallen, I wait for it to rise and change them to dollar or teter.

 

[Setho]

Charts reflect a lot of sense in the market and also speak about some things about the charts so it is important for you to have some knowledge about understanding charts.

 

[Skysaint]

When I started investing in cryptocurrency, I never really knew much about it and infact, I thought that it's only Bitcoin that's the only existing coin which makes it the first coin I invested in. But as time went by, I discovered other things and learnt so much more up till this very moment

 

[Sariana23]

When I started investing in cryptocurrency, I never really knew much about it and infact, I thought that it's only Bitcoin that's the only existing coin which makes it the first coin I invested in. But as time went by, I discovered other things and learnt so much more up till this very moment

With research we can learn more, this way we will understand that things are not limited to our knowledge @Skysaint, since I started on the forum is much I have read and researched cryptocurrency, however now is that I have yet to learn.

 

[Setho]

There are so many information that is hidden in the charts that you can be able to leverage to your advantage to predict where prices going to go.

 

[Lens]

As you have stated, it's a very important to know the technicalities in crypto charts. I am still undergoing a course on crypto chart analysis but so far so good, I can analyse the chart very well using the candlestick pattern. When to buy or sell and when to hold depends on the resistance and support level.

 

[Sariana23]

As you have stated, it's a very important to know the technicalities in crypto charts. I am still undergoing a course on crypto chart analysis but so far so good, I can analyse the chart very well using the candlestick pattern. When to buy or sell and when to hold depends on the resistance and support level.

I have read several publications related to the candlestick pattern, I even did some research on it. I understand that it is the easiest way to track the preferred cryptocurrency, but I still have a lot to learn, I'm glad you are already doing the course.

 

[Sotherefore]

If you are investing in cryptocurrency for long term I don't see the need for you to read the chat about a particular cryptocurrency .you can start investing now because no matter how the price drop it will surely bounce back to the price you predicted and even more.

 

[Kelly5]

Chats tells you a lot about whatever is going on in a particular cryptocurrency in the life Market by showing you possible trends on how things might possibly swing for that Coin in space of minutes

 

[Kubiat-Abasi]

If you can read the charts, then you're likely to be on a safer side. Some novice just rush to invest without reading a chart. It's like signing a document without reading properly the terms and conditions attached.

 

[Blessedsam60]

Charts are strictly for crytocurrency traders just like in forex trading. You have to learn it usage and apply it properly as expected to favour you. But in a long time crytocurrency investment you need no chart but some news going around could be favourable.

 

[Samknowis]

It is very important that you understand every thing about what your are doing in cryptocurrency. If you are investing you can invest without knowing how to use the chart but if you are trading then you have to go ad learn how to use the chart before you can start trading

 

[Sariana23]

It is very important that you understand every thing about what your are doing in cryptocurrency. If you are investing you can invest without knowing how to use the chart but if you are trading then you have to go ad learn how to use the chart before you can start trading

It is the most accurate recommendation left to me by members in the topic @Samknowis, for investing the importance is less than for trading, however it is good to have knowledge in both cases, even for a future in any decision to be made around cryptocurrency.

 

[Sotherefore]

The function of chart in cryptocurrency is to understand the price movement of a particular cryptocurrency. Chat can also be used to understanding when a coin will be bullish or bearish so you can know the right and good entry points to enter.

 

[Sariana23]

The function of chart in cryptocurrency is to understand the price movement of a particular cryptocurrency. Chat can also be used to understanding when a coin will be bullish or bearish so you can know the right and good entry points to enter.

I have read different opinions related to the chat, although I still don't have much knowledge I am studying some important points. In this way as you describe I will know when to invest in the right way.

 

[kayode10]

Another ways in which you can invest in cryptocurrency is to rely on speculation and this is very bad. it is closer to the gambling as you don't have a concrete information as and when you rely on speculation.

 

[Sariana23]

Another ways in which you can invest in cryptocurrency is to rely on speculation and this is very bad. it is closer to the gambling as you don't have a concrete information as and when you rely on speculation.

The truth is that I would not like to invest relying on "speculation" I prefer to dedicate the necessary time and learn in detail the important points, as in the case of the graphs. Although investing is risky, it can be minimized with a good study.

 

[kayode10]

The truth is that I would not like to invest relying on "speculation" I prefer to dedicate the necessary time and learn in detail the important points, as in the case of the graphs. Although investing is risky, it can be minimized with a good study.

Majority of the people are not ready to do this. Everybody is with get-rich-quick mindset and they are not patience to learn the basic things. And they will eventually fail after the whole thing's.

 

[GoldenLady]

Knowing and using the chart is absolutely for crypto traders who are not investing but trading. If you want to invest for a long time you really don't need the chart but if it's trading you really need the chart and you need to learn it.

Reading the charts is important for long term investment. I bought a lot of coins at the top and sold at the bottom since I could not recognize the signs of exhaustion at that point.