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

[frederick_9]

For cryptocurrency traders who are not investing but rather trading, understanding and utilising the chart is essential.
Although you don't really need a chart if you plan to invest for a long time, you do need to learn it if you plan to trade.

 

[Mohammed Rashid]

Short-term trading can be profitable, but there are hazards involved. But in order to understand cryptocurrencies, you need to learn how to use charts.

 

[Sincerem]

You can invest perfectly even without understanding those chat but you still have to follow up some experts to know the right time to invest. They might be willing to guide you through.

 

[Skysaint]

Honestly, that's a necessity for you to trade successfully in the cryptocurrency market because that would b what you help you in decision making. Trading without it is always possible but you would make more loss than you make profits.

 

[Ronny_4son]

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.

It is expedient for a prospective investor to be well informed on the cryptocurrency market through the study of charts, patterns and trends. This can guide him or her to know when to buy or sell crypto

 

[Sincerem]

The reality is that crypto chart will mostly be read and understand by professional who has been in the system for a long period of time . Anybody can read and understand the crypto charts but for most investors they are only investing based on the fact that their favourite cryptocurrency as drops to their desired point. . If you have the idea understanding it will be a greater advantage to you

 

[Smiles20]

They might not really be able to explain to you if you are going to make money or not but at least they can tell you the best places that you should buy and the likely places that you should sell.

 

[Good-Person]

They might not really be able to explain to you if you are going to make money or not but at least they can tell you the best places that you should buy and the likely places that you should sell.

I think that understanding charts is very important. This is because you may need to have some sort of basic knowledge before you can start to trade in cryptocurrencies.

 

[Smiles20]

Charts are infact the basics for you to be trading any kind of financial instruments. You will have to ensure that you at least know the best positions that you can buy and the best positions that you can sell.

 

[Skysaint]

Charts are infact the basics for you to be trading any kind of financial instruments. You will have to ensure that you at least know the best positions that you can buy and the best positions that you can sell.

You've just said it all. It is very important and as well very necessary that we learn our charts properly as that would be from where we would be making our trading decisions from.