Analyzing the action of the thedlestick price models in cryptourny *
The world of cryptocurrencies is still worth high speculative and rapid market evolution. With the emergence of new coins, the increasing adoption of transaction payments and the increasing interest for institutional inventors, prices have fluctuated events. Efficiently to analyze this price is by examining the sewerage paths, what wire in the technological analysis to predict the forms.
What candle models?
The candlestick graphs are the representation of the prices of using the candles candles and the shadow of the colors and the shading of the various periods of time (for example, hours, days). The graphs offer a comprehensive vision of the behavior by annizing the direction, impulse and volatility of prices. By examining the cannick paths, drivers can have information about prices based on death.
Models Unick
There is a key type of candle or family with:
- ** Charterized Hammerizer by a small body followed by a large wick, indicating the purchase pressure.
- The shooting diagram : a bear model to score by a long lower wick and a thin Rody, which provides for the signing of the Firelling press.
3.Macked’s reversal diagram *: A reversed summer star or a TIR or Loter with a love lotter, after a strong growth.
4.Pearcing Line Chart *: A Pattle Patish Bullish of a white candle, followed by a smaller green, indicating a purchase action.
Analyzing the action of price by the Says patterns
Tona analyzes the price using the canteens in cryptocurities, followed the steps:
1
- * Examine the reversal paternal:: Identify potential reversals based on the nantime paternalities, subtle starters, firing stars, jacking stars or piercing lines.
- * Search divergers: Analyze the vegetated difference with Patte’s body and refers to the upper or lower wick to identify the interruption or reversals.
- * Consider support and resistance levels: Identify the key supply and resistance areas based on a canleist on canteen or technology indicators (relative resistance index) and Bollinger bands.
CASE STUDY IMPLE: Break price analysis *
Using its history, to analze the action of Bitcoin (BTC) prices through Candist Orters:
quoted the price date | Candle type | Patients |
quote — | — | — | — |
quote 2019-04-10 | 7.100 USD | Hammer | Bullish hammer (powerful uptre) |
quote 2019-04-11 | $ 6,800 | Filming Star | BSH filming star |
quoted 2020-12-08 | $ 29,000 | Piercing line | Bullish of Piercing Line |
The Hemmer Patents in Appil 2019 marked a strong growth, while the firing star and the orter piercing line in December 2020 arousing the pressing pressure. Communion of balot and silgor and silloma operators for bitcoinities.
*Conclusion
Price analysis is the action through Candist Orters is a powerful tool for drivers, investors and market participants. Through examination data and identity tendencies, reversal paternal and support/resistance levels, you can have a prospect of evaluating the dynamics of dynamics dynamics. Remember for the engineers of several diagram organs, technological indicators and market marketing and marketing trading.
advice and resources
- Use online resorts such as Coinmarkcap, Cryptocompare, Theoretically TradingView for historical data and live diagrams.
- You should do with a recognition use Richard Dennis (The Bitcoin Bull Market) and Laoring Williams.