Digital currency technical analysis training pdf

جمعه ۱۹ خرداد ۰۲ | ۲۱:۰۶ ۵ بازديد

Digital currencies have one of the largest and most complex digital markets. Making money from this market and becoming a successful investor is the dream of every person who steps into this market. Therefore, in order for people to become one of the successful people in this market and have something to say in this market, they must get to know this market well. After finding this market and getting to know the successful currencies, it is time to decide which digital currency is suitable for buying and selling. After this you have to guess when to buy and sell the digital currencies you buy, but how? Technical analysis training is a topic that will help you here, so in this article we intend to introduce you to digital currency technical analysis training pdf.

What is technical analysis in digital currency?

Digital currency technical analysis means that you buy and sell digital currencies based on supply and demand. But note that the price of digital currencies does not always change based on supply and demand. Cryptocurrencies are sometimes affected by the performance of investors and those who hold a large amount of a cryptocurrency. Also, the pricing on digital currencies does not always reflect the original price of digital currencies. PDF digital currency technical analysis training will help you identify these changes and buy and sell cryptocurrencies at a more accurate time. Price movements and volume of transactions are among the parts that you can use to predict the price of digital currencies.

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Digital currency technical analysis patterns

Patterns and charts are one of the ways you can predict the price changes of digital currencies. Patterns are divided into two categories, reversal and continuation, and by using them, you will understand that their trend will be an upward or downward trend. Below you can see a list of digital currency technical analysis patterns, you can also learn more about these patterns by reading digital currency technical analysis pdf.

Download digital currency technical analysis training pdf

Price channel
Petrin or flag pattern of digital currency technical analysis
Triangular pattern (increasing, decreasing and symmetrical)
Inverted head and shoulders and ceiling pattern
Twin floor and ceiling diagram
Falling wedge and rising wedge pattern
Candlestick patterns

Support and resistance levels

Another important basic concept is the analysis of support and resistance lines. In fact, these lines are the levels that you know after the price of a digital currency has fallen, that it has reached the support lines and expects an increase in price. Also, after the price increased and it was no longer able to rise further, it means that it has reached resistance and you should expect a decrease in the price of the currency.

In the level support, the demand is very high in it, so that it prevents the price of the asset from falling, and as you can see in the picture above, every time the support level is reached, the price is not able to cross this level. The reason for this phenomenon is that as the price decreases and reaches the support lines, buyers tend to buy more and sellers are less willing to sell due to high demand.

At the resistance level, because the supply is high, it prevents the price from rising. As you can see in the picture above, every time the resistance lines are reached, it becomes more difficult for the price to cross that level. The basis of this work is that as the price increases and reaches the resistance lines, the sellers start selling, and on the other hand, the buyers are less willing to buy.

What are digital currency technical analysis chart patterns?

In this part of the digital currency technical analysis training article pdf, we intend to introduce you to chart patterns. Chart patterns are one of the technical analysis methods of digital currencies which are estimated from price charts. By viewing the charts and price charts of digital currencies, traders can easily predict and check their trends. Price channel, flag pattern, triangle pattern, head and shoulder pattern, twin floor and ceiling chart, falling wedge pattern, rising wedge pattern and candlestick patterns are types of patterns that traders can use to chart Analyze the price. In the following article, we will explain each of them briefly.

Price channel

The first way to analyze a digital asset is to create a price calendar. If you view the chart of digital currencies through the Trading View site, you can create a price channel from the tools of this site. The way to create a price channel in technical analysis is to first draw a line for the main trend. Now, according to whether the price chart is ascending or descending, draw a line parallel to the main trend line. Note that price candles should be placed between these two.

Flag pattern

It does not take much time to draw this pattern on the price chart and it can be drawn only by visual observation. This pattern can be easily drawn after the emergence of an upward and downward trend. This pattern is visible when the price of a cryptocurrency suddenly increases or decreases.

Triangular patterns

Technical proverbial patterns are known as continuation and reversal patterns. The triangular pattern is ascending and has a positive slope and its upper side is horizontal. A descending triangle pattern is the exact opposite of an ascending triangle pattern. The symmetrical triangular pattern has two sloping sides, this pattern is shaped like an arrow.

Head and shoulders pattern

This pattern has 5 phases or 5 different stages, with the formation of these phases in the chart, you can see the head and shoulders pattern. 2 price floors upside down and 3 price floors upside down are signs of this pattern. When the price crosses the last shoulder of the downward price floor, the price of that digital asset will fall and enter the descending channel.

Twin floor and ceiling diagram

This situation occurs when the price of the digital asset returns to its previous price. In this case, the market trend may be upward or downward for that asset. When the shape of the candles is U-shaped, it is called Eve, and when it is V-shaped, it is called Adam.

Falling Wedge Pattern

Using this pattern, the upward trend of digital assets can be determined. This bearish pattern has two downward converging lines after which prices rise.

Rising Wedge Pattern

The convergence trend of the Rising Wedge pattern is upward, and at the end of this trend, prices may fall or the chart may continue its upward trend. Of course, most of the time the prices are broken and the price chart becomes downward.

Candlestick patterns

Candlestick patterns are another method of digital currency technical analysis. By means of price candles, it is possible to see and find the return points in the price charts/ hence the price return process can also be predicted. Familiarity with this pattern is very important; Because it is widely used in the analysis of digital currencies.

Psychology of support and resistance lines in digital currency technical analysis

Assume that a group of buyers want to buy the digital currency of a project that is near the $30 support zone, and by buying these people, it will cause the price to reach the $35 level. Now, more buyers are willing to buy at the price of 30 dollars and not at the level of 35 dollars, and they have a decision that if the price returns to 30 dollars, they will buy more, and finally they have created demand at the price level of 30 dollars. In the next group are people who made their purchases at the $30 level and regret doing so. The decision of these people is to start buying when the price reaches $30 again, which creates a potential demand.

The next group are people who bought them below the price of 30 dollars (for example, at the price of 20 dollars) and these people sold their currencies when the price increased to 30 dollars, and they are watching the price increase to 35 dollars, and then these people want The same currencies are at the level of 30 dollars, which they sold, which turned from sellers to buyers; It is also better to know that this will increase the demand.

Validity and conversion of support and resistance levels to each other

In technical analysis, it is a key concept that requires training and learning; The concept is that one of the support or resistance levels should be broken or turned into each other. For example, when the price breaks below the support line, or in other words, this level becomes resistance, and also when this price reaches above a resistance, it becomes a support line.

Of course, note that the validity and stability of these levels depends on the factor, the first of which depends on the length of time the price has remained at that level, and the second depends on the volume of transactions. So, as a result, no matter how much the trading volume is or how long the price remains at a long-term level; The validity of those lines is also higher.

Conclusion

Technical analysis is very helpful for those people who intend to make money from this volatile market. Because the investor can well guess the time of entry and exit from the digital currency market. If you use these patterns and charts, you are more likely to lose less and increase your profit in this market. Therefore, you can get acquainted with the technical analysis sections and methods of digital currencies by reading the digital currency technical analysis training pdf.

Frequently Asked Questions

What is technical analysis?

Technical analysis is a method to check and predict the digital currency or financial market. This method is obtained through the price history and trading volume of digital assets. This method has several patterns that you should be familiar with so that you can predict the trend of the market and digital currencies.

Is it difficult to learn technical analysis?

Learning to analyze digital assets requires little background on digital currencies and financial markets. You don’t need to know many parts of the digital currency market to learn this concept. Anyone can easily learn the basic concepts of technical analysis and with this method in the market you can easily invest in the financial markets.

Digital currency technical analysis training pdf

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