Cryptocurrencies

What you need to improve your technical analysis

Many beginner traders question the possibility of making money in trading, normally, when we begin our learning we find ourselves before an immense sea of diverse tutorials in the use of technical indicators, even, scarcer tutorials on the reading of the price action, in a beginning it is not bad to learn the basic or deep of such topics, nevertheless, inside the space crypto the accuracy in the technical thing with regard to traditional markets is far from its application, this is due to the high volatility that have the different markets inside this space, volatility that will continue for years to come, this volatility will normalize as external capital goes deeper and deeper into crypto capitalization, therefore, in order to seek to be profitable traders in this environment it is necessary to configure traditional knowledge to extended acceleration movements, the basics will serve you to understand what you have to do and how to do it, but what will take you to your next level will be to learn how to apply it in these markets where the risks are as high as the rewards.

Many traders recommend you to use technical indicators, I am not anyone to tell you not to use them, personally, I used them in my learning, however, if you get stuck at that stage, you will never progress in your learning, you have to know the mechanics of the market, its most common patterns, key levels, supports and resistances in horizontal and diagonal, technical indicators are not in real time, therefore, a technical indicator will not give you the EMA cross at the bottom of a correction, will give it to you much later, when the trend is already started, the same happens with the volume indicator, you will not see a series of green bars above the average at the bottom of a correction, this will happen later when the trend is started, etc, learning to read the price action is the expert level a trader can reach, knowing when exactly the price has reached the bottom of a correction or the top of a momentum, is this possible?, many will tell you no, however, if it is possible, what you need to do to get to that level, get out of your comfort zone in the use of indicators, you need to immerse yourself in the cryptos market charts, analyze them in depth in every market cycle, the only way to be a good cryptos trader is to study the cryptos charts.

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