Trend basics, not including vertical lines cause Im tired
for sid
Most of the technical analysis all the youtubers teach is pretty ridiculous and unnecessary.
All you need to do is create your vertical support and resistance lines (extended rays), and your horizontal common S+R lines. Vertical support lines are green and resistance are red. Rays that turn from support to resistance are yellow.
That’s how I do it.
Change the opacity of the lines to 50% so you can still see the chart.
Do that on that macro, or micro if you’re day trading. Though there’s not really much day trading as of now. Low volume and volatility. This is a bear market thing, and because crypto is finally becoming mainstream, the market makers have stopped a lot of the volatility to stop the average joe from making quick trades
For long term investments, and large margined long/short positions, you need to focus most on the Macro trend. 1 and 3 day charts. Use 30 min charts to get lines exactly on the candle wicks.
If day/weekly trading, follow the same chart drawing, but keep in mind the macro, especially on lower cap alt coins.
Most of the technical analysis all the youtubers teach is pretty ridiculous and unnecessary.
All you need to do is create your vertical support and resistance lines (extended rays), and your horizontal common S+R lines. Vertical support lines are green and resistance are red. Rays that turn from support to resistance are yellow.
That’s how I do it.
Change the opacity of the lines to 50% so you can still see the chart.
Do that on that macro, or micro if you’re day trading. Though there’s not really much day trading as of now. Low volume and volatility. This is a bear market thing, and because crypto is finally becoming mainstream, the market makers have stopped a lot of the volatility to stop the average joe from making quick trades
For long term investments, and large margined long/short positions, you need to focus most on the Macro trend. 1 and 3 day charts. Use 30 min charts to get lines exactly on the candle wicks.
If day/weekly trading, follow the same chart drawing, but keep in mind the macro, especially on lower cap alt coins.