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

[Syldan]

Well, the truth is that, it's not an interesting idea for someone to invest into any form of cryptocurrency trading without knowing much about the market or the coin.

 

[GoldenLady]

Well, the truth is that, it's not an interesting idea for someone to invest into any form of cryptocurrency trading without knowing much about the market or the coin.

Most investors do make this mistake. I've done it severally. It's easy to get swept away in the excitement and euphoria that comes with pumps in cryptocurrency.

 

[Ononivami]

Honestly,.I can't invest my money on cryptocurrency without knowing the basis of the technical and fundamental analysis. The best thing to do right now is to ensure that I am equipped around it.

 

[Alogakho Esson]

Crypto currency exchange investment is cool when you have online client who is smart, first thing in doing business is studying and raising apparatus

 

[Sotherefore]

An investor can just invest in any potential cryptocurrency he or she is really interested to invest on but if you do not really understand the best time to invest you should always try as much as possible to buy when there's an observable dip, try not to buy on top.

 

[Syldan]

The investment into any form of business without knowledge, is a very risk to take most especially the investment into cryptocurrency. it's better to seek for knowledge first before investing.
It's not appropriate to invest in any of the cryptocurrency without understanding it chart. The knowledge of the chart, will helped you in running the transaction effectively.

 

[Sincerem]

Well it would be disastrous for anyone who hopes to invest in the crypto currency and to trade the crypto currency without the knowledge of reading and accurately understanding charts. Even for a skillful trader the knowledge of charts is still very important.

 

[tyrim88]

I think it all depends on your investment priority as an investor,because as a trader in the market,it would be good for you to know and understand the charts and other signals associated with the market,except you are buying for keeps.

 

[Syldan]

As an investor, for you to invest in any form of cryptocurrency trading, it's expected of you to know much about it business chart, when necessary to trade and to buy to able you avoid some form of risk.

 

[Setho]

Making an informed decision is very important whenever you are trading because things do not just happen on their own. This is why the ability to be able to interpret candlestick charts is one of the most important things in trading financial markets.

 

[Sotherefore]

You may not really have to understand it, ability for you to organise and buy any of your cryptocurrency when the price is low is the best especially if you are investing for long-term purposes. You won't have any problem.

 

[Bookwormlux]

Understanding them is an added advantage because it helps you to understand what is currently happening with the market, but there are still people who go about trading without getting to understand these things m

 

[Ononivami]

It is very important to understand the chart analysis. The major thing is that the chart will give you an edge. Presently, I still study the chart to see the potentials that was embedded.

 

[tyrim88]

Knowing technical analysis in the crypto currency exchange Business depends on the fact if you are going to be a trade or an investor. If you are an investor, you need news more but as a trader you need chart more.

That is a fact,because at the end of the day it all boils down to the priority of the person involved,i personally have not been able to properlly study the chart to know how it really works,because i only buy for future appriciation.

 

[James]

If you're advance user than it these charts are really helpful to understand the performance and you can also have base support data means you know what going to happen in market if they lose support level. But if you're newbie than it might hard to understand for you.

 

[Setho]

If you are investing into cryptocurrency without knowing the charts then it means that you are just doing it blindly and at the end of the day it normally does not end well. Education is the first thing to do and they know how to do risk management

 

[Lens]

The cryptocurrency chart is very good for the technical analysis of the cryptocurrency market. It is not advisable to trade cryptocurrency without having the knowledge of the crypto charts.

 

[LadAckerman]

It is worth noting even during busy trading periods, no chart pattern is 100% reliable. Seemingly perfect setups can often get rejected and move in the opposite direction or push sideways when volatility is low, which is why many traders recommend waiting for confirmation of a breakout or breakdown first (at least two consecutive closes above or below) or placing stop-loss orders to mitigate this risk.

 

[Sincerem]

No need to scratch your head in understanding the chart in order to make investment in crypto currency. Just go with ethereum and bitcoin and you will never regret your decision.

That would be a wrong approach in investing because even ethereum and Bitcoin do fall in price and if you enter the Market at the wrong time you might end up losing some or all of your initial investment capital.

 

[zelalem]

clearly and using the chart is a must for crypto traders who trade rather than invest. If you want to invest for a long time, you really don't need charts, but when it comes to trading you really need charts and you need to learn them.