Day 1 Crypto Technical Analysis Module [PDF]

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Introduction to Technical Analysis Crypto traders have several tools to assess the cryptocurrency market. One of them is an approach known as Technical Analysis. Using this method, traders can get a better understanding of the market sentiment and isolate significant trends in the market. This guide to crypto technical analysis will take you along the exciting introduction to technical indicators that are widely used in technical analysis. Including; Trendline Support and resistance



Source: https://cryptopotato.com/bitcoin-crypto-technical-analysis-beginners/ This module is FREE!!! And only given to Crypto4chun Subscribers!



“Don’t chase big gains. Become a good crypto trader first and gains will chase you.”



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Trendlines Trend lines, or the typical direction that a coin is moving towards, can be most beneficial for traders of crypto. Me, (Crypto4chun) as a trader, for how many years that I’ve been trading in cryptocurrency, this module was converted into crypto trading charts patterns and analysis based on my knowledge and past experiences. Since the original source module is pattern in stocks/forex charts.



Source Credits: www.Tradingwithrayner.com



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Trendlines



Trend lines can be used to identify and confirm trends. A trend line connects at least 2 price points on a chart.



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Support and Resistance Everything we need to know about support and resistance



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Everything we need to know about support and resistance They are: 1. Support & Resistance 2. Role reversal 3. Dynamic Support & Resistance 4. Impulse & corrective moves Let's begin. This module is FREE!!! And only given to Crypto4chun Subscribers!



Support & Resistance Support – An area on the chart with potential buying pressure to push the price higher.



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Role reversal Resistance - An area on the chart with potential selling pressure to push the price lower. Remember... ...Support & Resistance is not a single line, but an area on the chart. And when price breaks Support & Resistance, a role reversal occurs.



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Role reversal



Simply put... If the price breaks below support, previous support becomes resistance.



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Role Reversal



If the price breaks above resistance, previous resistance becomes support. Here's what I mean... Now: You've just learnt what Support & Resistance are, and their role reversal with one another. This is "static" Support & Resistance, where their areas are fixed on the chart. But wait, that's not all...



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Dynamic Support & Resistance Support & Resistance can also move along with price, which is called Dynamic Support & Resistance. Dynamic support occurs in an uptrend, This is what I mean...



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Dynamic Support & Resistance and dynamic resistance in a downtrend. They can be identified using moving averages (I use 18 & 50 EMA).



Yo u're wondering: Bro, is there anything special about 21 & 51 EMA? The answer is no. I use it because it fits my trading style. Ultimately you need to find something that suits you. Indicators are simply trading tools. It’s how you use them that make a difference.



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Impulse and Corrective moves



Markets don’t move in one straight line. There's an ebb (condition of decline) and flow to it. And this process contains impulse & corrective moves. Wait, what's that? Impulse move - "Longer leg" on the chart, which points towards the direction of the trend. Candlestick size is usually larger, signaling momentum behind the move. Corrective move - "Shorter" leg on the chart, which is against the current trend. Candlestick size is usually smaller because of traders taking profits, without strong pressure. Here’s a few examples on the next slides:



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Impulse and Corrective moves [Market | Uptrend]



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Impulse and Corrective moves [Market | Downtrend]



Here's a tip for you… You can trade pullback on a corrective move, and breakout on the impulse move. Depending on your trading style, both approaches let you get on board with the trend. next section tomorrow...



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Next session;



The 4 stages of crypto markets every serious trader must know.



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