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Chapter 8:  Crypto Analysis

Technical Analysis: What are Candlesticks, Trendlines, and Patterns?

Interesting Fact:
Did you know that candlestick charts illustrate how the price of a certain asset moved over a given time period?
medium
9 minutes

In this section, we’re going to dive into crypto technical analysis and face the scary question of what is ‘candlesticks, patterns and trendlines.’

For beginners, the sight of candlestick charts is not a pleasant experience. It looks colorful, confusing, and very complex. Nothing makes sense, and everything seems to be of crucial importance. But knowing how to read candlesticks is in itself like a candle - it can shine a light in the darkness of uncertainty!

Once a trader learns how to access and understand this information, new possibilities get unlocked. That’s what I’m here for - to give you the essentials of this topic, so you could literally level up your trading game.

In this section, we’re going to answer the questions of what is ‘candlesticks’ and how to read them, what is ‘trendlines’, and patterns, and other related, yet problematic for many, concepts. By the end of your reading, you’ll no longer fear those red-and-greenish charts!

Candlesticks, Trendlines & Patterns Easily Explained (Animated Examples)

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Video Explainer: Technical Analysis: What are Candlesticks, Trendlines, and Patterns?

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Candlesticks, Trendlines & Patterns Easily Explained (Animated Examples)

Candlesticks, Trendlines & Patterns Easily Explained (Animated Examples) Candlesticks, Trendlines & Patterns Easily Explained (Animated Examples)

What are Candlesticks?

To start off, candlesticks, these confusing-looking colorful rectangles, are the poster boy for crypto technical analysis. It only makes sense to begin by explaining what ‘candlesticks’ is, the theory of how to read them, and what their purpose is.

What is candlesticks: Candlesticks graph.

First of all, they’re called candlesticks because… They resemble candlesticks. But if only things were that simple!

Crypto candlesticks are a technical analysis tool that allows traders to observe cryptocurrency price movements over a given period of time. It’s a visual representation of these price movements, and it allows traders to immediately tell the ongoing trends, and identify if there’s a pattern in them.

Of course, crypto is known for how volatile its market is. Sudden changes in price movement can appear very quickly. Therefore, candlesticks are used to represent a certain time period and the change that happened during it. Different people use candlesticks to track different time periods. Among popular options, they can range from 1 minute to 1 month.

Now, let’s take a look at how to read candlesticks.

First of all, candlesticks come in two colors. Green and red.

A red candlestick means that the cryptocurrency’s price decreased during the set trading period. To be more precise, it shows that the crypto’s closing price was lower than the opening price.

A green candlestick means that its price increased during the same set trading period. Similarly, it shows that the coin’s closing price was higher than the opening price.

To comprehend this better, it’s crucial to have a clear understanding of what ‘opening’ and ‘closing’ prices are.

What is candlesticks: Opening and closing prices.

The opening price is the price of a coin at the start of a particular time period. The closing price, naturally, is the price of the coin at the end of that time period. These time periods are set manually, and depend on what traders are interested in.

Here’s an example. Right now, Bitcoin’s price is different than it will be by the time you finish reading this section. So, a candlestick would represent Bitcoin price movement during these minutes - what was its price when you began reading this section, and how did it look by the end of your reading. If the price increased, the candlestick would be green, and it would be red if it had gone down.

But what are those little wicks on the top and bottom of each of the candlesticks?

Also known as tails, or shadows, the candlestick wicks represent the highest and lowest price points reached during the time period.

What is candlesticks: Tails.

You’ll easily notice that most of these wicks differ in length. Let’s say you see a red candlestick with the wick on the top of it being longer than the one on the bottom. This shows that the particular crypto’s price reached a high point during the set time period, but, at the end of it, it fell back down, and the closing price was lower than the opening one.

Now, if the wick on the bottom of a candlestick is longer, this signifies the opposite. It shows that the asset's price fell significantly low during the set time period, but, eventually, recovered, and its closing price was higher than the opening price. Therefore, such a candlestick would be green.

Simply put, knowing how to read candlesticks allows traders to plan their next move. Thanks to this method, they can recognize potential asset's price patterns, and therefore, make more informed decisions.

But what is ‘patterns,’ actually, and how to recognize them?

What are Patterns?

In the context of crypto, patterns refer to specific shapes within a price chart that are recurring from time to time. They suggest what the prices may look like in the near future, based on how they’ve looked in the past. It’s the crypto version of noticing repetitive, cyclical patterns of behavior.

What is candlesticks: Patterns.

So, candlestick patterns are exactly that. Various cryptocurrency prices behave rather unpredictably, but, nevertheless, patterns appear. And, when visualized in the shape of candlesticks, it becomes a powerful tool for traders to scan the market sentiment, feel its momentum, or look out for bearish and bullish signals.

By the way, if you want to learn more about what those bearish and bullish signals are, check out this section that is explaining exactly that!

Okay, so back to candlestick patterns. Let’s take a look at some well-known patterns that every serious trader could recognize in a second. Specifically, let’s begin with a few notable bullish patterns.

First, The Hammer Pattern. It’s called that because this candlestick looks more like a hammer than a candle. It’s a famous bullish reversal pattern which is formed at the bottom of a downtrend. So, whenever traders notice it, they can predict price movement with more certainty.

Another bullish pattern is known as the Bullish engulfing. It’s called that because it’s formed when a bullish candlestick engulfs the previous bearish candlestick. It’s a bullish pattern, because it suggests that a price increase is on its way.

The Morning star is yet another important bullish pattern. It’s formed by three candlesticks: one short candle between two long ones. The way this pattern is called implies that the short-bodied candle is the star that is rising, and thus, ending the night, a.k.a. a downwards trend.

What is candlesticks: The Morning star.

Now, let’s take a look at some bearish candlestick patterns.

The opposite of The Hammer is known as the Hanging man: Even though it looks like a hammer, it signifies the opposite - a potential reversal of the price movement. Unlike the Hammer, this pattern is formed at the top of an uptrend.

In contrast to Bullish engulfing, there’s also Bearish engulfing: They are the opposites of each other. Bearish engulfing forms when a bearish candlestick entirely engulfs the previous bullish candlestick.

Finally, the Evening star: Once again, it’s the opposite of the Morning star. It consists of three candlesticks, yet with their meanings inverted. Thus, the Evening star pattern suggests that the day, a.k.a. an uptrend is coming to an end, and it's about to get dark. But experienced traders are not afraid of it - they know they can light their way using candles.

What is a Trendline?

But candlestick charts have even more potential. Apart from forming patterns that help traders navigate through the sea of uncertainty, they also provide data so that trendlines could be drawn.

But, what is ‘trendlines’?

Just like patterns, trendlines are a useful technical analysis tool that helps traders to weigh in various trading decisions. Yet, these two tools serve different purposes!

What is candlesticks: Trendline.

When you connect the high or low points of candlesticks with a straight line, you end up with a trendline.

Its main purpose is to identify the direction of the trend, whether it is an uptrend or a downtrend.

For example, a trendline, that’s drawn by connecting the lowest points of candlesticks, is referred to as support. It’s a level below which the price is not expected to drop even lower. Therefore, knowing at what price the support level is, allows traders to evaluate the situation of various coins in more precise values.

Analogically, a trendline connecting highs is referred to as resistance. It marks a level above which the price is not predicted to rise. So, thanks to trendlines, traders are able to avoid such emotions as FUD or FOMO, because if they’re aware of the price’s resistance level, no rumors are going to convince them to jump on any bandwagon without any critical evaluation of their decision.

By the way, if you want to learn more about what role emotions play in the crypto market, be sure to check out this section!

So, trendlines help traders recognize in what direction the market is currently going. Meanwhile, candlestick patterns allow them to identify likely changes in those trends. Quite obviously, these tools are supplementary to each other, and it’s not a surprise that most professional traders use them both.

Wrapping Up

Having said that, it’s time to call it a wrap. I hope that with all this new information, the question of what is ‘candlesticks’ has become clear as day! And, that the questions of what is 'patterns' and what is 'trendlines' have been answered as well. Overall, these terms should become part of your vocabulary, and, eventually, second nature.

market cap<\/strong><\/a>, circulating supply, and others.<\/p>\n<p>Staying up to date with all of this relevant data allows traders to make informed decisions about <strong>when it&rsquo;s the right time to make a move<\/strong>. To buy, sell, hold, or simply ignore the coin.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Buy, sell, hold, or ignore.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-01.jpg/" alt=\"How to track new crypto coins: Buy, sell, hold, or ignore.\" width=\"1000\" height=\"523\" \/><\/p>\n<p>Once users learn how to track crypto in general, the question of &lsquo;<em>how to track new crypto coins<\/em>&rsquo; is no longer a difficult task. The same rules apply; therefore, a well-versed crypto trader will always be ahead of the game, since they&rsquo;ll know when to spot a promising new crypto before other traders do.<\/p>\n<p>The first step is to <strong>find, select, and get familiar with a trustworthy crypto-tracking platform<\/strong>. The available selection is rich and wide, but let&rsquo;s concentrate on popular, free, and well-trusted crypto-tracking websites.<\/p>\n<p>Among the most prominent and reliable names in the industry, such platforms as <strong><a href=https://www.bitdegree.org/"https:////www.bitdegree.org///">BitDegree, CoinMarketCap, or CoinGecko<\/strong> should be mentioned.<\/p>\n<p>Let&rsquo;s take a look at BitDegree.org, which presents itself as a <strong>Web3 Learning Hub<\/strong>, and, essentially, is a universally applicable crypto-tracking platform.<\/p>\n<p>Upon entering the website, you can immediately see that Bitdegree presents <strong>essential data regarding over 21,000 different cryptocurrencies, and almost 1,700 <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-exchange/">crypto exchanges<\/a><\/strong>. It&rsquo;s safe to say that, whatever you&rsquo;re interested in, you'll most likely find it within the hub, and you&rsquo;ll be able to begin tracking the crypto of your interest right there, on this platform.<\/p>\n<p>So, the first step is to get familiar with such a platform, and learn where to find all the necessary real-time data, coin metrics, and other vital indexes.<\/p>\n<h2>Crypto Analysis Indicators<\/h2>\n<p>In order to know how to track new crypto coins, it&rsquo;s also unavoidable to rely on <strong>crypto analysis indicators<\/strong>. Let&rsquo;s define them real quick.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Crypto analysis indicators.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-02.jpg/" alt=\"How to track new crypto coins: Crypto analysis indicators.\" width=\"1000\" height=\"604\" \/><\/p>\n<p>Crypto analysis indicators are convenient tools that <strong>help crypto traders and investors understand, follow, and, in successful cases, predict the right time to make a financial decision<\/strong> concerning a new coin.<\/p>\n<p>In the majority of cases, these tools are <strong>mathematical formulas of sorts<\/strong>, that allow analysts to understand in what state the cryptocurrency market, a particular crypto asset, trading activity and other elements are.<\/p>\n<p>It&rsquo;s simple. A pro chef knows their recipes and ingredients. <strong>A pro tracker knows their analysis indicators<\/strong>. Though, one thing is to understand them, while another is to understand what role they play in the crypto tracking process and which ones are the ones to keep your eyes on. Besides that, you must be able to read them not only from the tokenomics angle, but from a <strong>trader&rsquo;s perspective<\/strong> as well.<\/p>\n<p><em>So, what kind of crypto analysis indicators there are?<\/em><\/p>\n<h3>Market Capitalization<\/h3>\n<p>First, among the most important ones, you&rsquo;ll find &ldquo;<strong>market capitalization<\/strong>&rdquo;, or, more commonly, &ldquo;<strong>market cap<\/strong>.&rdquo; So, what is market cap in crypto, and how does market cap affect crypto price?<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Market capitalization.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-03.jpg/" alt=\"How to track new crypto coins: Market capitalization.\" width=\"1000\" height=\"544\" \/><\/p>\n<p>Market cap is used to measure <strong>the total value of a cryptocurrency<\/strong>. Therefore, it can be referred to as the <strong>total crypto market cap<\/strong> as well. It is calculated by multiplying the current market price of a crypto asset by the total number of coins in circulation - <strong>the circulating supply<\/strong>. The more coins in circulation, and the higher their price, the bigger its market cap gets.<\/p>\n<p>Then, there&rsquo;s also the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-fully-diluted-market-cap/">fully-diluted market cap<\/strong><\/a> in crypto, as well. This is calculated by taking the current price of the asset, and multiplying it by all of the existing coins, including those that are currently not in circulation. The two metrics are different, but I&rsquo;m getting a bit too technical here - <em>let&rsquo;s get back to the point<\/em>.<\/p>\n<p>Thanks to the total crypto market cap indicator, traders can easily <strong>assess the overall value and size of a crypto project<\/strong>. Just by taking a look at the top cryptocurrencies, you can immediately tell that the most widely adopted coins have huge market caps, while the lesser-known ones have significantly lower numbers associated with them. It&rsquo;s a quick and convenient way of indicating whether a coin is a big player in the crypto game.<\/p>\n<h3>Circulating Supply, Total Supply, and Max Supply<\/h3>\n<p>Moving on, let&rsquo;s take a look at &ldquo;<strong>Circulating Supply<\/strong>.&rdquo; It refers to the number of coins of a particular cryptocurrency that are <strong>currently available and actively traded in the market<\/strong>. The keyword here is &ldquo;<strong>currently<\/strong>.&rdquo; This means that if some tokens were burned, destroyed, or put in <a href=https://www.bitdegree.org/"//crypto//cold-wallet/">cold wallets<\/strong><\/a>, they are not included in the &ldquo;circulating supply&rdquo; metric.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Circulating supply.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-04.jpg/" alt=\"How to track new crypto coins: Circulating supply.\" width=\"1000\" height=\"570\" \/><\/p>\n<p>This indicator is useful to traders because it allows them to <strong>measure the potential growth of a particular coin<\/strong>. They can assess whether many more coins are about to be released into circulation, which would potentially affect the crypto asset&rsquo;s value. This could be an issue both for cryptos with the lowest supply, as well as those that have large supply caps, too.<\/p>\n<p>Now, if you were to include all of the coins of a particular cryptocurrency, even those that are not currently in circulation, you would get something that&rsquo;s called &ldquo;<strong>Total Supply<\/strong>.&rdquo;<\/p>\n<p>As I&rsquo;ve mentioned earlier, this refers to the <strong>total number of coins or tokens that have been created for a particular cryptocurrency<\/strong>. Many coins are being <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-mining/">mined on a daily basis, which means that with every passing day, the total supply increases. Many coins have a limit on how many of them can be created. So, when you take into account the <strong>total amount of coins that will eventually be created<\/strong>, you get yet another indicator - &ldquo;<strong>Max Supply<\/strong>.&rdquo;<\/p>\n<p>Here&rsquo;s a practical illustration. <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin is a well-known example of a crypto asset with a <strong>limited max supply of 21 million coins<\/strong>. This means that once the last Bitcoin is mined, not a single additional Bitcoin will ever be added to the coin&rsquo;s circulation. This was carefully implemented into the Bitcoin architecture with the idea that such limitations would help maintain the currency&rsquo;s scarcity and help Bitcoin avoid inflation over time.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Crypto market.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-05.jpg/" alt=\"How to track new crypto coins: Crypto market.\" width=\"1000\" height=\"599\" \/><\/p>\n<p>But then, on the other hand, we&rsquo;ve got <a href=https://www.bitdegree.org/"//crypto//buy-ethereum-eth/">Ethereum, which has <strong>no fixed maximum supply limit<\/strong>. This means that newly-minted Ethereum will be <strong>forever added to the circulation<\/strong>. The logic behind such a structure seeks to ensure a constant flow of the cryptocurrency into the market, thus keeping the market participants busy, and motivated.<\/p>\n<p>Obviously, this creates the <strong>risk of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-inflation/">inflation. To combat it, the minds behind Ethereum have made sure that the issuance of new Ethereum coins would decrease over time.<\/p>\n<p>Investors can try and predict what kind of effect on the coin&rsquo;s value this will have in the long run, and can choose whether coins with a limited max supply, or without it, are a better call.<\/p>\n<h3>ATH &amp; ATL<\/h3>\n<p>Now, let&rsquo;s talk about the &ldquo;<strong>ATH<\/strong>&rdquo; and &ldquo;<strong>ATL<\/strong>&rdquo;, or &ldquo;<strong>All-Time High<\/strong>&rdquo; and &ldquo;<strong>All-Time Low<\/strong>.&rdquo; Thankfully, the names here are pretty self-explanatory, since they refer to the all-time high and all-time low prices of a particular cryptocurrency.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: ATH \/ ATL.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-06.jpg/" alt=\"How to track new crypto coins: ATH \/ ATL.\" width=\"1000\" height=\"508\" \/><\/p>\n<p><strong>Again, let&rsquo;s look at Bitcoin to illustrate it<\/strong>. On April 14, 2021, Bitcoin reached its All-Time High of <strong>$64,863.10<\/strong>. Bitcoin has yet to reach such heights again; therefore, this particular price is known as the Bitcoin ATH. But, it might change in the future.<\/p>\n<p>An all-time low is the exact opposite. <em>And when was Bitcoin the cheapest?<\/em> Of course, just after its inception, back in 2009. When it was just created, Bitcoin was being traded for <strong>$0.01<\/strong>. Its value has never dropped lower; therefore, <strong>Bitcoin&rsquo;s all-time low is $0.01<\/strong>. Every cryptocurrency has its own ATH and ATL.<\/p>\n<p>By taking a single glance at a particular coin&rsquo;s ATH &amp; ATL, and comparing them to its current price, even the very crypto beginners immediately tell <strong>in what state the currency is<\/strong>. And, by doing so, they can easily understand whether a coin has gone downhill over time, or increased in value.<\/p>\n<h3>TVL<\/h3>\n<p>There are many abbreviations in the land of crypto, and TVL is yet another of significant importance. TVL stands for \"<strong>Total Value Locked<\/strong>,\" and it&rsquo;s used to measure the total value of assets that are <strong>currently locked in <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-defi/">DeFi protocols<\/a><\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: TVL.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-07.jpg/" alt=\"How to track new crypto coins: TVL.\" width=\"1000\" height=\"586\" \/><\/p>\n<p>This translates to various amounts of crypto being taken away from circulation by being, for example, staked.<\/p>\n<p><em>Staking asks for another section of its own, but, the good news is that <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-staking-in-crypto/">there is one<\/strong><\/a>! So be sure to check it out if you feel like refreshing your knowledge wouldn&rsquo;t hurt!<\/em><\/p>\n<p>Okay, so back to TVL. As the name of the indicator suggests, it talks about <strong>money that&rsquo;s locked away, and is not in circulation<\/strong>.<\/p>\n<p>A higher TVL indicates that traders are prone to trusting various DeFi protocols and locking assets into them. A lower TVL indicates that particular DeFi projects fail to boost confidence, and attract users to their platform.<\/p>\n<h2>Coins&rsquo; Smart Contracts<\/h2>\n<p>So, the aforementioned crypto analysis indicators are fundamental to every informed financial decision. Wherever something important happens in a life of a cryptocurrency, those numbers will immediately reflect how grave these changes were. <em>But, there&rsquo;s more.<\/em><\/p>\n<p>In order to gain insight into a particular cryptocurrency, traders also inspect the <strong>smart contract<\/strong> upon which this coin is built.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Smart contract.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-08.jpg/" alt=\"How to track new crypto coins: Smart contract.\" width=\"1000\" height=\"576\" \/><\/p>\n<p>If you feel like your knowledge about smart contracts needs some revisiting, be sure to check a separate section <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-are-smart-contracts/">dedicated to this topic<\/strong><\/a> <strong>in my Crypto 101 Handbook<\/strong>.<\/p>\n<p>However, the main thing you have to note is that <strong>smart contracts are built to be transparent<\/strong>. This means that once their code is written, and deployed on the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-blockchain/">blockchain - it&rsquo;s there to stay, so, no one&rsquo;s gonna alter or tamper with it. Access to it allows traders to make more informed guesses about how the coin may perform in the near future. This is one of the tricks of knowing how to track new crypto coins.<\/p>\n<p>Here&rsquo;s a practical example. Smart contract data allows traders to <strong>see and evaluate the rate at which new coins are created, how fast they are distributed, what their circulation looks like now, and what it will look like in the future<\/strong>. Taking into account how supply and demand crypto laws affect coins&rsquo; prices, this info could become a life-saver for an informed trader.<\/p>\n<p><em>Okay, so&hellip; Where can you access such information?<\/em><\/p>\n<h2>Blockchain Explorers<\/h2>\n<p>The good news is that each network has something known as a &lsquo;<strong>blockchain explorer<\/strong>.&rsquo; It&rsquo;s where you want to go if you&rsquo;re interested in the nitty-gritty of these coins, of what&rsquo;s actually going on under the hood.<\/p>\n<p>People use blockchain explorers to find such data as <strong>transaction details &amp; addresses, and to see what the overall network&rsquo;s health<\/strong> <strong>looks like<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Blockchain explorer.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-09.jpg/" alt=\"How to track new crypto coins: Blockchain explorer.\" width=\"1000\" height=\"503\" \/><\/p>\n<p>Consider <strong>Blockchain.com<\/strong>. As the domain name suggests, it&rsquo;s about <strong>the Blockchain<\/strong>, the one that started it all. It&rsquo;s a leading blockchain explorer for the <a href=https://www.bitdegree.org/"//cryptocurrency-prices//bitcoin-btc-price/">Bitcoin network. Users who are eager to learn real-time data about Bitcoin go here. All the essential info, such as network activity, <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-hash/">hash rate<\/strong><\/a>, price chart, and everything else, is right there.<\/p>\n<p>Another example is <strong>Etherscan<\/strong>. As the name suggests, this one&rsquo;s built for <a href=https://www.bitdegree.org/"//cryptocurrency-prices//ethereum-eth-price/">Ethereum. But, Ethereum is a blockchain, which allows other projects to be built upon it. Therefore, many new crypto coins appear on the Ethereum network. Using Etherscan allows you to not only track Ethereum blockchain-related data, but also that of the <strong>projects built on this network<\/strong>, as well.<\/p>\n<p>Once you've found the token you want to track, simply <strong>paste its address into Etherscan to access more details<\/strong>, such as the number of on-chain token holders. This will provide you with insights into how the coin&rsquo;s actually doing.<\/p>\n<p>As you can see, blockchain explorers can be of critical importance when it comes to knowing how to track new crypto coins, and observe their tokenomics, and how their supply chain in crypto works, in general. &nbsp;Just remember - <strong>different blockchains have different explorers that are used to track their activities<\/strong>.<\/p>\n<h2>Wrapping Up<\/h2>\n<p>So, this brings us to the end of the section. I&rsquo;ve presented to you the basic, and the more advanced ways of how to track new crypto coins, what indexes and indicators to follow, and how important they are. Knowing this will truly step up your crypto-tracking skills, and, hopefully, allow you to continue <strong>growing as an informed trader<\/strong>.<\/p>","definition":"Did you know that using reputable coin-tracking websites and blockchain explorers, keeping an eye on crypto analysis indicators, and analyzing smart contracts are all necessary for thoroughly tracking crypto assets?","status":"published","meta_title":"Keep Up With the Market: How to Track New Crypto Coins?","meta_description":"If you're curious about how to track new crypto coins & tokens, you're in luck! Here, you'll find everything you need to know about that!","meta_keywords":"how to track new crypto coins, what is market cap in crypto, total crypto market cap, how does market cap affect crypto price, supply chain crypto, supply and demand crypto, crypto with lowest supply, fully diluted market cap crypto","modified_content":"<p>In this section, we&rsquo;re going to learn <strong>how to track new crypto coins, as well as your favorite tokens<\/strong>!<\/p>\n<p>It&rsquo;s an essential skill that&rsquo;s second nature to every serious trader. Knowing how volatile the crypto market is, being always on time with the latest developments and updates is of crucial importance. And, as you&rsquo;ll soon see, <strong>this skill has layers of complexity<\/strong>, and if you want to become a real crypto native, you better read this section till the end!<\/p>\n<p>The question about what metrics should be followed is an open one. Some would suggest one answer, while others would vouch for the other theories. Yet, the best approach is to be aware of all of them, and not ignore those factors that may seem complicated, yet of essential importance.<\/p>\n<p>In this section, I&rsquo;m going to present to you <strong>what are the best platforms and tools to optimize your crypto-tracking skills<\/strong>. There are plenty of options to choose from, but I&rsquo;ll concentrate on the most accessible, reliable, and useful ones.<\/p>\n<p><em>Let&rsquo;s get to that!<\/em><\/p>\n<div class=\"container\">\n <div class=\"row justify-content-center\">\n <div class=\"col-md-10 suggested-comparisons pb-3 mb-4\">\n <div class=\"d-flex flex-row\">\n <div class=\"text-center\">\n <div class=\"img-block-yt\">\n <img src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//images//compare-crypto-exchanges.gif/"/n alt=\"How to Track Cryptocurrencies? (3 BEST Tracking Platforms Revealed)\"\n title=\"How to Track Cryptocurrencies? (3 BEST Tracking Platforms Revealed)\" class=\"border-0\">\n <p>Video Explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"col-xs-10 col-sm-10 col-md-10 text-left py-3 yt-info\">\n <h4 class=\"mb-1\">Video Explainer: Crypto Tracking: How to Track Your Favorite Coins & Tokens?<\/h4>\n <p class=\"py-1 mb-0 youtube-video-subtitle\">Reading is not your thing? Watch the \"Crypto Tracking: How to Track Your Favorite Coins & Tokens?\" video explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div class=\"col-12 col-md-11 px-3\">\n <div class=\"wrapper mb-0\">\n <div class=\"position-relative youtube mb-4 bg-transparent p-0 video-modal-popup\" data-toggle=\"modal\"\n data-target=\"#video-modal\" data-id=\"hE6UbIC3kXY\" data-title=\"CryptoFinallyExplained\">\n <div class=\"video-gradient-top\"><\/div>\n <p class=\"text-left dyk-video-title\">How to Track Cryptocurrencies? (3 BEST Tracking Platforms Revealed)<\/p>\n <img data-srcset=\"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/how-to-track-cryptocurrencies-3-best-tracking-platforms-revealed.jpg?tr=w-420 500w,\n https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/how-to-track-cryptocurrencies-3-best-tracking-platforms-revealed.jpg?tr=w-760 1000w\"\n alt=\"How to Track Cryptocurrencies? (3 BEST Tracking Platforms Revealed)\"\n title=\"How to Track Cryptocurrencies? (3 BEST Tracking Platforms Revealed)\"\n class=\"p-0 lazyload\">\n <img class=\"play-button lazyload\" data-target=\"#video-modal\"\n data-src=\"https:\/\/assets.bitdegree.org\/crypto\/assets\/video-button.png?tr=w-85\"\n alt=\"How to Track Cryptocurrencies? (3 BEST Tracking Platforms Revealed)\">\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div>\n <a href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n class=\"btn yt-promo mb-2\" target=\"_blank\" rel=\"nofollow noopener noindex\">\n <div class=\"row justify-content-center align-items-center mx-0 text-center\">\n <div class=\"col-4 col-md-4\">\n <i class=\"fab fa-youtube yt-dyk-btn\"><\/i>\n <\/div>\n <div class=\"col-8 col-md-8 text-center yt-promo-text\">\n <h4 class=\"m-0 text-white\">SUBSCRIBE<\/h4>\n <span>ON YOUTUBE<\/span>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n<div class=\"modal fade\" id=\"video-modal\" tabindex=\"-1\" role=\"dialog\">\n <div class=\"modal-dialog modal-dialog-centered modal-lg\" role=\"document\">\n <div class=\"modal-content\">\n <div class=\"modal-body p-0\">\n <button type=\"button\" class=\"video-modal-close close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <i aria-hidden=\"true\" class=\"fas fa-times\"><\/i>\n <\/button>\n <div id=\"iframe\"><\/div>\n <\/div>\n <a class=\"text-decoration-none\"\n href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n rel=\"nofollow noopener noindex\" target=\"_blank\">\n <div class=\"modal-footer p-0 d-block bg-white\">\n <div class=\"row justify-content-center m-0\">\n <div class=\"col-3 col-md-4 col-lg-2 p-0\">\n <img class=\"w-100 h-100\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//crypto-subscribe.jpg/" alt=\"Subscribe\">\n <\/div>\n <div class=\"col-9 col-md-8 col-lg-2 px-0 d-flex\">\n <div class=\"modal-subscribe w-100\">\n <p class=\"m-0 mt-1 mr-3\">SUBSCRIBE<br>\n <span class=\"m-0\">ON YOUTUBE<\/span>\n <\/p>\n <\/div>\n <\/div>\n <div class=\"col-12 col-md-12 col-lg-8 p-0 text-center d-flex justify-content-center align-items-center\">\n <div class=\"modal-subscribe-text\">\n <h4 class=\"m-0\">Understand crypto with ease<\/h4>\n <span>New explainer videos every week!<\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n<h2>Coin-Tracking Websites<\/h2>\n<p>The process of tracking cryptocurrencies refers to <strong>consistent monitoring of various metrics of a particular coin<\/strong>. Among such metrics are its price, total crypto <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-market-capitalization-market-cap-mcap/">market cap<\/strong><\/a>, circulating supply, and others.<\/p>\n<p>Staying up to date with all of this relevant data allows traders to make informed decisions about <strong>when it&rsquo;s the right time to make a move<\/strong>. To buy, sell, hold, or simply ignore the coin.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Buy, sell, hold, or ignore.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-01.jpg/" alt=\"How to track new crypto coins: Buy, sell, hold, or ignore.\" width=\"1000\" height=\"523\" \/><\/p>\n<p>Once users learn how to track crypto in general, the question of &lsquo;<em>how to track new crypto coins<\/em>&rsquo; is no longer a difficult task. The same rules apply; therefore, a well-versed crypto trader will always be ahead of the game, since they&rsquo;ll know when to spot a promising new crypto before other traders do.<\/p>\n<p>The first step is to <strong>find, select, and get familiar with a trustworthy crypto-tracking platform<\/strong>. The available selection is rich and wide, but let&rsquo;s concentrate on popular, free, and well-trusted crypto-tracking websites.<\/p>\n<p>Among the most prominent and reliable names in the industry, such platforms as <strong><a href=https://www.bitdegree.org/"https:////www.bitdegree.org///">BitDegree, CoinMarketCap, or CoinGecko<\/strong> should be mentioned.<\/p>\n<p>Let&rsquo;s take a look at BitDegree.org, which presents itself as a <strong>Web3 Learning Hub<\/strong>, and, essentially, is a universally applicable crypto-tracking platform.<\/p>\n<p>Upon entering the website, you can immediately see that Bitdegree presents <strong>essential data regarding over 21,000 different cryptocurrencies, and almost 1,700 <a href=https://www.bitdegree.org/"//crypto//best-cryptocurrency-exchange/">crypto exchanges<\/a><\/strong>. It&rsquo;s safe to say that, whatever you&rsquo;re interested in, you'll most likely find it within the hub, and you&rsquo;ll be able to begin tracking the crypto of your interest right there, on this platform.<\/p>\n<p>So, the first step is to get familiar with such a platform, and learn where to find all the necessary real-time data, coin metrics, and other vital indexes.<\/p>\n<h2>Crypto Analysis Indicators<\/h2>\n<p>In order to know how to track new crypto coins, it&rsquo;s also unavoidable to rely on <strong>crypto analysis indicators<\/strong>. Let&rsquo;s define them real quick.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Crypto analysis indicators.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-02.jpg/" alt=\"How to track new crypto coins: Crypto analysis indicators.\" width=\"1000\" height=\"604\" \/><\/p>\n<p>Crypto analysis indicators are convenient tools that <strong>help crypto traders and investors understand, follow, and, in successful cases, predict the right time to make a financial decision<\/strong> concerning a new coin.<\/p>\n<p>In the majority of cases, these tools are <strong>mathematical formulas of sorts<\/strong>, that allow analysts to understand in what state the cryptocurrency market, a particular crypto asset, trading activity and other elements are.<\/p>\n<p>It&rsquo;s simple. A pro chef knows their recipes and ingredients. <strong>A pro tracker knows their analysis indicators<\/strong>. Though, one thing is to understand them, while another is to understand what role they play in the crypto tracking process and which ones are the ones to keep your eyes on. Besides that, you must be able to read them not only from the tokenomics angle, but from a <strong>trader&rsquo;s perspective<\/strong> as well.<\/p>\n<p><em>So, what kind of crypto analysis indicators there are?<\/em><\/p>\n<h3>Market Capitalization<\/h3>\n<p>First, among the most important ones, you&rsquo;ll find &ldquo;<strong>market capitalization<\/strong>&rdquo;, or, more commonly, &ldquo;<strong>market cap<\/strong>.&rdquo; So, what is market cap in crypto, and how does market cap affect crypto price?<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Market capitalization.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-03.jpg/" alt=\"How to track new crypto coins: Market capitalization.\" width=\"1000\" height=\"544\" \/><\/p>\n<p>Market cap is used to measure <strong>the total value of a cryptocurrency<\/strong>. Therefore, it can be referred to as the <strong>total crypto market cap<\/strong> as well. It is calculated by multiplying the current market price of a crypto asset by the total number of coins in circulation - <strong>the circulating supply<\/strong>. The more coins in circulation, and the higher their price, the bigger its market cap gets.<\/p>\n<p>Then, there&rsquo;s also the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-fully-diluted-market-cap/">fully-diluted market cap<\/strong><\/a> in crypto, as well. This is calculated by taking the current price of the asset, and multiplying it by all of the existing coins, including those that are currently not in circulation. The two metrics are different, but I&rsquo;m getting a bit too technical here - <em>let&rsquo;s get back to the point<\/em>.<\/p>\n<p>Thanks to the total crypto market cap indicator, traders can easily <strong>assess the overall value and size of a crypto project<\/strong>. Just by taking a look at the top cryptocurrencies, you can immediately tell that the most widely adopted coins have huge market caps, while the lesser-known ones have significantly lower numbers associated with them. It&rsquo;s a quick and convenient way of indicating whether a coin is a big player in the crypto game.<\/p>\n<h3>Circulating Supply, Total Supply, and Max Supply<\/h3>\n<p>Moving on, let&rsquo;s take a look at &ldquo;<strong>Circulating Supply<\/strong>.&rdquo; It refers to the number of coins of a particular cryptocurrency that are <strong>currently available and actively traded in the market<\/strong>. The keyword here is &ldquo;<strong>currently<\/strong>.&rdquo; This means that if some tokens were burned, destroyed, or put in <a href=https://www.bitdegree.org/"//crypto//cold-wallet/">cold wallets<\/strong><\/a>, they are not included in the &ldquo;circulating supply&rdquo; metric.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Circulating supply.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-04.jpg/" alt=\"How to track new crypto coins: Circulating supply.\" width=\"1000\" height=\"570\" \/><\/p>\n<p>This indicator is useful to traders because it allows them to <strong>measure the potential growth of a particular coin<\/strong>. They can assess whether many more coins are about to be released into circulation, which would potentially affect the crypto asset&rsquo;s value. This could be an issue both for cryptos with the lowest supply, as well as those that have large supply caps, too.<\/p>\n<p>Now, if you were to include all of the coins of a particular cryptocurrency, even those that are not currently in circulation, you would get something that&rsquo;s called &ldquo;<strong>Total Supply<\/strong>.&rdquo;<\/p>\n<p>As I&rsquo;ve mentioned earlier, this refers to the <strong>total number of coins or tokens that have been created for a particular cryptocurrency<\/strong>. Many coins are being <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-mining/">mined on a daily basis, which means that with every passing day, the total supply increases. Many coins have a limit on how many of them can be created. So, when you take into account the <strong>total amount of coins that will eventually be created<\/strong>, you get yet another indicator - &ldquo;<strong>Max Supply<\/strong>.&rdquo;<\/p>\n<p>Here&rsquo;s a practical illustration. <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin is a well-known example of a crypto asset with a <strong>limited max supply of 21 million coins<\/strong>. This means that once the last Bitcoin is mined, not a single additional Bitcoin will ever be added to the coin&rsquo;s circulation. This was carefully implemented into the Bitcoin architecture with the idea that such limitations would help maintain the currency&rsquo;s scarcity and help Bitcoin avoid inflation over time.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Crypto market.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-05.jpg/" alt=\"How to track new crypto coins: Crypto market.\" width=\"1000\" height=\"599\" \/><\/p>\n<p>But then, on the other hand, we&rsquo;ve got <a href=https://www.bitdegree.org/"//crypto//buy-ethereum-eth/">Ethereum, which has <strong>no fixed maximum supply limit<\/strong>. This means that newly-minted Ethereum will be <strong>forever added to the circulation<\/strong>. The logic behind such a structure seeks to ensure a constant flow of the cryptocurrency into the market, thus keeping the market participants busy, and motivated.<\/p>\n<p>Obviously, this creates the <strong>risk of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-inflation/">inflation. To combat it, the minds behind Ethereum have made sure that the issuance of new Ethereum coins would decrease over time.<\/p>\n<p>Investors can try and predict what kind of effect on the coin&rsquo;s value this will have in the long run, and can choose whether coins with a limited max supply, or without it, are a better call.<\/p>\n<h3>ATH &amp; ATL<\/h3>\n<p>Now, let&rsquo;s talk about the &ldquo;<strong>ATH<\/strong>&rdquo; and &ldquo;<strong>ATL<\/strong>&rdquo;, or &ldquo;<strong>All-Time High<\/strong>&rdquo; and &ldquo;<strong>All-Time Low<\/strong>.&rdquo; Thankfully, the names here are pretty self-explanatory, since they refer to the all-time high and all-time low prices of a particular cryptocurrency.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: ATH \/ ATL.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-06.jpg/" alt=\"How to track new crypto coins: ATH \/ ATL.\" width=\"1000\" height=\"508\" \/><\/p>\n<p><strong>Again, let&rsquo;s look at Bitcoin to illustrate it<\/strong>. On April 14, 2021, Bitcoin reached its All-Time High of <strong>$64,863.10<\/strong>. Bitcoin has yet to reach such heights again; therefore, this particular price is known as the Bitcoin ATH. But, it might change in the future.<\/p>\n<p>An all-time low is the exact opposite. <em>And when was Bitcoin the cheapest?<\/em> Of course, just after its inception, back in 2009. When it was just created, Bitcoin was being traded for <strong>$0.01<\/strong>. Its value has never dropped lower; therefore, <strong>Bitcoin&rsquo;s all-time low is $0.01<\/strong>. Every cryptocurrency has its own ATH and ATL.<\/p>\n<p>By taking a single glance at a particular coin&rsquo;s ATH &amp; ATL, and comparing them to its current price, even the very crypto beginners immediately tell <strong>in what state the currency is<\/strong>. And, by doing so, they can easily understand whether a coin has gone downhill over time, or increased in value.<\/p>\n<h3>TVL<\/h3>\n<p>There are many abbreviations in the land of crypto, and TVL is yet another of significant importance. TVL stands for \"<strong>Total Value Locked<\/strong>,\" and it&rsquo;s used to measure the total value of assets that are <strong>currently locked in <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-defi/">DeFi protocols<\/a><\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: TVL.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-07.jpg/" alt=\"How to track new crypto coins: TVL.\" width=\"1000\" height=\"586\" \/><\/p>\n<p>This translates to various amounts of crypto being taken away from circulation by being, for example, staked.<\/p>\n<p><em>Staking asks for another section of its own, but, the good news is that <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-staking-in-crypto/">there is one<\/strong><\/a>! So be sure to check it out if you feel like refreshing your knowledge wouldn&rsquo;t hurt!<\/em><\/p>\n<p>Okay, so back to TVL. As the name of the indicator suggests, it talks about <strong>money that&rsquo;s locked away, and is not in circulation<\/strong>.<\/p>\n<p>A higher TVL indicates that traders are prone to trusting various DeFi protocols and locking assets into them. A lower TVL indicates that particular DeFi projects fail to boost confidence, and attract users to their platform.<\/p>\n<h2>Coins&rsquo; Smart Contracts<\/h2>\n<p>So, the aforementioned crypto analysis indicators are fundamental to every informed financial decision. Wherever something important happens in a life of a cryptocurrency, those numbers will immediately reflect how grave these changes were. <em>But, there&rsquo;s more.<\/em><\/p>\n<p>In order to gain insight into a particular cryptocurrency, traders also inspect the <strong>smart contract<\/strong> upon which this coin is built.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Smart contract.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-08.jpg/" alt=\"How to track new crypto coins: Smart contract.\" width=\"1000\" height=\"576\" \/><\/p>\n<p>If you feel like your knowledge about smart contracts needs some revisiting, be sure to check a separate section <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-are-smart-contracts/">dedicated to this topic<\/strong><\/a> <strong>in my Crypto 101 Handbook<\/strong>.<\/p>\n<p>However, the main thing you have to note is that <strong>smart contracts are built to be transparent<\/strong>. This means that once their code is written, and deployed on the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-blockchain/">blockchain - it&rsquo;s there to stay, so, no one&rsquo;s gonna alter or tamper with it. Access to it allows traders to make more informed guesses about how the coin may perform in the near future. This is one of the tricks of knowing how to track new crypto coins.<\/p>\n<p>Here&rsquo;s a practical example. Smart contract data allows traders to <strong>see and evaluate the rate at which new coins are created, how fast they are distributed, what their circulation looks like now, and what it will look like in the future<\/strong>. Taking into account how supply and demand crypto laws affect coins&rsquo; prices, this info could become a life-saver for an informed trader.<\/p>\n<p><em>Okay, so&hellip; Where can you access such information?<\/em><\/p>\n<h2>Blockchain Explorers<\/h2>\n<p>The good news is that each network has something known as a &lsquo;<strong>blockchain explorer<\/strong>.&rsquo; It&rsquo;s where you want to go if you&rsquo;re interested in the nitty-gritty of these coins, of what&rsquo;s actually going on under the hood.<\/p>\n<p>People use blockchain explorers to find such data as <strong>transaction details &amp; addresses, and to see what the overall network&rsquo;s health<\/strong> <strong>looks like<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to track new crypto coins: Blockchain explorer.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how-to-track-new-crypto-coins-09.jpg/" alt=\"How to track new crypto coins: Blockchain explorer.\" width=\"1000\" height=\"503\" \/><\/p>\n<p>Consider <strong>Blockchain.com<\/strong>. As the domain name suggests, it&rsquo;s about <strong>the Blockchain<\/strong>, the one that started it all. It&rsquo;s a leading blockchain explorer for the <a href=https://www.bitdegree.org/"//cryptocurrency-prices//bitcoin-btc-price/">Bitcoin network. Users who are eager to learn real-time data about Bitcoin go here. All the essential info, such as network activity, <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-hash/">hash rate<\/strong><\/a>, price chart, and everything else, is right there.<\/p>\n<p>Another example is <strong>Etherscan<\/strong>. As the name suggests, this one&rsquo;s built for <a href=https://www.bitdegree.org/"//cryptocurrency-prices//ethereum-eth-price/">Ethereum. But, Ethereum is a blockchain, which allows other projects to be built upon it. Therefore, many new crypto coins appear on the Ethereum network. Using Etherscan allows you to not only track Ethereum blockchain-related data, but also that of the <strong>projects built on this network<\/strong>, as well.<\/p>\n<p>Once you've found the token you want to track, simply <strong>paste its address into Etherscan to access more details<\/strong>, such as the number of on-chain token holders. This will provide you with insights into how the coin&rsquo;s actually doing.<\/p>\n<p>As you can see, blockchain explorers can be of critical importance when it comes to knowing how to track new crypto coins, and observe their tokenomics, and how their supply chain in crypto works, in general. &nbsp;Just remember - <strong>different blockchains have different explorers that are used to track their activities<\/strong>.<\/p>\n<h2>Wrapping Up<\/h2>\n<p>So, this brings us to the end of the section. I&rsquo;ve presented to you the basic, and the more advanced ways of how to track new crypto coins, what indexes and indicators to follow, and how important they are. Knowing this will truly step up your crypto-tracking skills, and, hopefully, allow you to continue <strong>growing as an informed trader<\/strong>.<\/p>","youtube_video":{"id":83,"channel_id":1,"sort":29,"video_title":"How to Track Cryptocurrencies? (3 BEST Tracking Platforms Revealed)","description":"How to track cryptocurrencies & what are the best tracking tools?\n\nTrading crypto is one thing. Tracking crypto is something else. Because knowing how to get ahead of your fellow traders and be the first one to spot the next big thing is, undoubtedly, quite an advantage. \n\nIn this video, I will present you with what are the metrics, the indexes, and the data that pro crypto trackers are always aware of. You\u2019ll get the opportunity to learn essential indicators, such as market capitalization, TVL, ATH and ATL, and more advanced tools, such as blockchain explorers like Etherscan.\n\nDo you have something that you\u2019d like to add? Make sure to let everyone know by leaving a comment, an insight, or a suggestion in the comment section below!\n\nVideo Time Table:\n\n0:00 Introduction to How to Track Cryptocurrencies\n1:05 Coin-Tracking Platforms\n2:40 Crypto Analysis Indicators\n3:31 Market Capitalization\n4:43 Circulating Supply, Total Supply, Max Supply\n6:52 All-time High (ATH) & All-time Low (ATL)\n8:00 Total Value Locked (TVL)\n8:50 Coins' Smart Contracts\n10:00 Blockchain Explorers\n11:23 Wrap-up: How to Track Cryptocurrencies?\n\nGet Quick Crypto Tips on Twitter - Follow:\nhttps:\/\/twitter.com\/crypto_xplained \n\n#CryptoAnalysis #CryptoTracker #MarketCap","video_id":"hE6UbIC3kXY","duration":720,"view_count":390,"thumbnail_url":"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/how-to-track-cryptocurrencies-3-best-tracking-platforms-revealed.jpg","thumbnail_width":1280,"thumbnail_height":720,"published_at":"2023-06-09T14:38:10.000000Z","created_at":"2023-06-09T23:00:12.000000Z","updated_at":"2024-01-09T23:00:04.000000Z","channel":{"id":1,"title":"CryptoFinallyExplained","channel_id":"UCOryUY0yxC08eJtK23mNgiA","main_playlist_id":"UUOryUY0yxC08eJtK23mNgiA"}}}" :prev-section="{"id":480,"chapter_id":8,"order":2,"featured_image_id":3094,"youtube_video_id":78,"author_id":1,"created_at":"2023-04-28T08:21:00.000000Z","updated_at":"2023-12-28T07:03:16.000000Z","slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","content":"<p>In this section, I&rsquo;m going to talk about the <strong>best technical analysis indicators for crypto<\/strong>!<\/p>\n<p>You cannot overestimate the importance of this subject. Many crypto newcomers think they can learn crypto trading by simply participating in the market, and gathering experience along the way. But the best <strong>technical analysis indicators for a trader are like a map for a traveler<\/strong> - they can show you the way.<\/p>\n<p>These indicators can get quite perplexing. Sometimes, the way they&rsquo;re called is enough to scare eager learners away. But, as always, that&rsquo;s what I&rsquo;m here for, to turn &ldquo;<em>complex<\/em>&rdquo; into &ldquo;<em>simple<\/em>&rdquo;.<\/p>\n<p>In this section, we&rsquo;re going to talk about <strong>what are the best technical analysis indicators for crypto<\/strong>, what&rsquo;s their purpose, and why it&rsquo;s important to be aware of them. As usual, I&rsquo;ll explain them one by one, and provide examples from the crypto world. As you&rsquo;ll see towards the end of the section, these sophisticated terms will no longer look as inaccessible as they may have in the past!<\/p>\n<p><em>Let&rsquo;s dive straight into it!<\/em><\/p>\n<h2>Moving Average (MA)<\/h2>\n<p>So, let&rsquo;s begin by taking a look at something that&rsquo;s known as &ldquo;<strong>Moving Average<\/strong>.&rdquo; It&rsquo;s a substantial technical analysis indicator that every serious crypto trader is well aware of.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Moving Average (MA).\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-01.jpg/" alt=\"Best technical analysis indicators for crypto: Moving Average (MA).\" width=\"1000\" height=\"588\" \/><\/p>\n<p>Moving average, or &ldquo;MA&rdquo;, is a technical indicator that <strong>helps traders spot price trends<\/strong>. Thanks to it, traders can prepare to buy or sell select assets in advance.<\/p>\n<p>The moving average is calculated by adding up the recent prices of a particular asset, and then dividing that figure by the number of time periods in the calculation average.<\/p>\n<p>Here&rsquo;s what I mean by that. <strong>A crypto asset&rsquo;s price is averaged over a certain time period<\/strong>. Most commonly, these time periods range from 20, 50 or 200 days. For example, a 50-day moving average is calculated by adding up 50 closing prices of a particular coin or token from the last 50 days, and then dividing that number by 50.<\/p>\n<p>Thanks to this indicator, traders can see in <strong>what direction the trend is heading<\/strong>.<\/p>\n<p>So, after calculating the result, and portraying it in a visual way, this indicator allows traders to <strong>see through short-term price fluctuations<\/strong>, making it easier to understand the possible long-term price direction of an asset. It&rsquo;s also why MA is considered one of the best technical analysis indicators for crypto.<\/p>\n<p>If the price is consistently above its moving average, it is considered to be in an uptrend, and if it is consistently below, it is considered to be in a downtrend.<\/p>\n<p>Of course, one could only wish that moving averages were the solution to the risks of trading crypto. <strong>Other indicators, factors, and circumstances should always be taken into account, as well<\/strong>.<\/p>\n<p>That said, let&rsquo;s take a look at yet another option for the best technical analysis indicators for crypto.<\/p>\n<h2>Relative Strength Index (RSI)<\/h2>\n<p>Specifically, &ldquo;<strong>Relative Strength Index<\/strong>&rdquo;, or &ldquo;RSI.&rdquo; It helps traders <strong>understand if a cryptocurrency is overbought<\/strong>, meaning it has been bought too much due to the coin&rsquo;s price drop, or oversold, meaning it&rsquo;s been sold too much because it increased in price.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Relative Strength Index (RSI).\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-02.jpg/" alt=\"Best technical analysis indicators for crypto: Relative Strength Index (RSI).\" width=\"1000\" height=\"515\" \/><\/p>\n<p>Let&rsquo;s simplify this. The RSI is expressed on a <strong>scale from 0 to 100<\/strong>, and is usually measured over a specific time frame, typically 14 days. When its score is <strong>above 70<\/strong>, it means the currency is <strong>overbought<\/strong>. And if a currency is overbought, it sends a signal that its price may go down in the near future.<\/p>\n<p>Now, when the RSI score is <strong>below 30<\/strong>, it&rsquo;s considered to be <strong>oversold<\/strong>. This sends an opposite signal that its price can increase soon.<\/p>\n<p>So, basically, this tool is like a life hack that allows traders to <strong>take a sneak peek into the market&rsquo;s future<\/strong>. Of course, once again, other factors and influences play an important role as well, and RSI should never be used in isolation, since it can result in uninformed trading decisions.<\/p>\n<h2>Bollinger Bands<\/h2>\n<p>Moving on, let&rsquo;s take a look at &ldquo;<strong>Bollinger Bands<\/strong>.&rdquo; Even though the name is very unclear, this technical indicator makes things far clearer for traders.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Bollinger Bands.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-03.jpg/" alt=\"Best technical analysis indicators for crypto: Bollinger Bands.\" width=\"1000\" height=\"573\" \/><\/p>\n<p>It&rsquo;s used to <strong>measure the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-volatility/">volatility in the price of a particular cryptocurrency<\/strong>. It achieves this by creating a visual representation of how much a crypto asset&rsquo;s price has drifted away from the average.<\/p>\n<p>Once again, it allows traders to <strong>predict whether the coin is being overbought, or oversold<\/strong>. Just like with the &ldquo;Relative Strength Index,&rdquo; this allows them to take an informed guess about whether the price is about to go up or down.<\/p>\n<p>Here&rsquo;s how Bollinger Bands are used in practice. This index is expressed in two bands on a price chart - the upper one, and the lower one.<\/p>\n<p>When the crypto coin&rsquo;s price <strong>rises and reaches (or breaks through) the upper band<\/strong>, it can be read as a signal that a <strong>price reversal<\/strong> is on its way - in other words, that it can go down soon. Traders can use this information as a hint that selling their holdings right now could be the right thing to do.<\/p>\n<p>When the <strong>price reaches the lower band<\/strong>, it can be understood as a signal to do the exact opposite - to buy the tokens, since <strong>their price may increase any day<\/strong>, or any minute, from now.<\/p>\n<h2>Ichimoku Cloud<\/h2>\n<p>Now, let&rsquo;s take a look at something that at least sounds less technical. I&rsquo;m talking about the &ldquo;<strong>Ichimoku Cloud<\/strong>.&rdquo; This poetic-sounding indicator is a powerful tool in the hands of those who know how to use it correctly.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Ichimoku Cloud.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-04.jpg/" alt=\"Best technical analysis indicators for crypto: Ichimoku Cloud.\" width=\"1000\" height=\"539\" \/><\/p>\n<p>Similarly to other crypto indicators, the Ichimoku Cloud <strong>helps traders identify potential trend reversals<\/strong>, plan their investment actions ahead, and scan the overall market sentiment. It&rsquo;s called a &ldquo;<em>cloud<\/em>,&rdquo; because it resembles one, when visualized on a price chart.<\/p>\n<p>This cloud is <strong>made up of two lines<\/strong>. Line A and Line B. Respectively, they represent the average of the highest high and lowest low of a particular crypto coin over a specific period of time.<\/p>\n<p>Now, once traders take a look at the cloud, they can see what the coin&rsquo;s price is up to. When <strong>the price is above the cloud<\/strong>, traders can interpret it as a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-bull-market/">bullish signal<\/strong><\/a>. Specifically, it sends a signal that the price is up. When <strong>the price is below the cloud<\/strong>, traders read it as a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-bear-market/">bearish signal<\/strong><\/a> - there&rsquo;s a downwards trend.<\/p>\n<p>This helps them understand how the coin is going to perform in the upcoming days, thus informing them about whether it&rsquo;s the right time to buy or sell.<\/p>\n<p>By the way, if you want to learn more about <strong>what &ldquo;bullish&rdquo; and &ldquo;bearish&rdquo; signals are<\/strong>, you should check out <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-bullish-and-bearish/">the section<\/strong><\/a> dedicated to this topic!<\/p>\n<p>Overall, this indicator is a powerful source of insights for traders. But, just like with any other indicator - it should not be relied upon entirely, since the crypto market is way too versatile and complex.<\/p>\n<h2>Fibonacci Retracement<\/h2>\n<p>Now, as the cherry on top, let&rsquo;s address something that sounds the most fun. Everyone&rsquo;s heard of the <strong>Fibonacci Sequence<\/strong>. Found everywhere, from Baroque paintings to memes, this &ldquo;<em>Fibonacci<\/em>&rdquo; has its practical application in crypto, as well. But, in crypto, it&rsquo;s called the &ldquo;<strong>Fibonacci Retracement<\/strong>.&rdquo;<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Fibonacci Retracement.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-05.jpg/" alt=\"Best technical analysis indicators for crypto: Fibonacci Retracement.\" width=\"1000\" height=\"550\" \/><\/p>\n<p>It&rsquo;s a technical analysis tool used by traders to <strong>predict an asset's price movement<\/strong>. It is based on the famous Fibonacci sequence, the satisfying mathematical concept in which each number is the sum of the two preceding numbers, and, when expressed visually, becomes recognizable because of its universal application in measuring visual symmetry.<\/p>\n<p>In the context of crypto, Fibonacci retracement is used to <strong>identify potential price levels, and their trends<\/strong>.<\/p>\n<p>This is how it&rsquo;s used in practice. First, a trader has to <strong>identify the high and low points<\/strong> of the cryptocurrency's price movement over a fixed period of time. Then, they would <strong>draw horizontal lines<\/strong> through these points to create a \"<strong>retracement grid<\/strong>\" on the chart. Having done that, the trader has established the possible price levels that may act as areas of support or resistance for the price.<\/p>\n<p>Now, what are these areas of &ldquo;<em>support<\/em>&rdquo; and &ldquo;<em>resistance<\/em>&rdquo; in crypto?<\/p>\n<p>These concepts are used to identify the potential price levels that may play a key role in changing how the market reacts to a particular <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//tutorials//token-vs-coin/">coin or token<\/strong><\/a>. When an asset reaches a particular price, if it&rsquo;s low - it&rsquo;s called the <strong>support<\/strong>, if it&rsquo;s high - it&rsquo;s called <strong>resistance<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Support and Resistance.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-06.jpg/" alt=\"Best technical analysis indicators for crypto: Support and Resistance.\" width=\"1000\" height=\"610\" \/><\/p>\n<p>When a price reaches its support level, <strong>the demand for this asset can get strong<\/strong>, which would stop the asset&rsquo;s price from falling down further.<\/p>\n<p>When a price reaches its resistance level, traders understand that <strong>the cryptocurrency is performing strong enough<\/strong>, and it becomes safer to assume that its price will not continue increasing in the nearest future. So, when traders observe price movements, they follow support and resistance levels to catch signals about new buying and selling opportunities.<\/p>\n<p>In short, the Fibonacci Retracement allows traders to <strong>look for a pattern between the support and resistance levels<\/strong>.<\/p>\n<p>For instance, a trader may look at the Fibonacci retracement levels as <strong>potential places of support<\/strong> where the price may begin its rebound, and start heading back up. And if a cryptocurrency is in an uptrend, this tool gives a hint about <strong>when its price may start declining<\/strong>. It&rsquo;s yet another smart life-hack that allows traders to try and predict the future of the highly volatile crypto market.<\/p>\n<h2>Wrapping Up<\/h2>\n<p>There are many lists of the best technical analysis indicators for crypto. In this section, <strong>I&rsquo;ve covered 5 of these tools<\/strong>. Every advanced trader is well aware of them, and employs them on a daily basis.<\/p>\n<p>The debate about which indicator is the best one is dubious. On the one hand, many people have their preferences. On the other hand, it&rsquo;s safe to say that <strong>relying on a single analysis indicator is not only insufficient, but it&rsquo;s dangerous, stupid even<\/strong>.<\/p>\n<p>The crypto market is in perpetual motion, and it&rsquo;s impossible to find a solution for all the problems that traders run into every day. Therefore, the best approach is to educate oneself, understand the importance of technical analysis indicators, and find which ones are the best for you.<\/p>","definition":"Did you know that the Fibonacci Retracement technical analysis indicator is based on the famous Fibonacci sequence?","status":"published","meta_title":"Top 5 Best Technical Analysis Indicators for Crypto","meta_description":"What are the best technical analysis indicators for crypto you should know about? Find out here to improve your crypto market predictions!","meta_keywords":"best technical analysis indicators for crypto","modified_content":"<p>In this section, I&rsquo;m going to talk about the <strong>best technical analysis indicators for crypto<\/strong>!<\/p>\n<p>You cannot overestimate the importance of this subject. Many crypto newcomers think they can learn crypto trading by simply participating in the market, and gathering experience along the way. But the best <strong>technical analysis indicators for a trader are like a map for a traveler<\/strong> - they can show you the way.<\/p>\n<p>These indicators can get quite perplexing. Sometimes, the way they&rsquo;re called is enough to scare eager learners away. But, as always, that&rsquo;s what I&rsquo;m here for, to turn &ldquo;<em>complex<\/em>&rdquo; into &ldquo;<em>simple<\/em>&rdquo;.<\/p>\n<p>In this section, we&rsquo;re going to talk about <strong>what are the best technical analysis indicators for crypto<\/strong>, what&rsquo;s their purpose, and why it&rsquo;s important to be aware of them. As usual, I&rsquo;ll explain them one by one, and provide examples from the crypto world. As you&rsquo;ll see towards the end of the section, these sophisticated terms will no longer look as inaccessible as they may have in the past!<\/p>\n<p><em>Let&rsquo;s dive straight into it!<\/em><\/p>\n<div class=\"container\">\n <div class=\"row justify-content-center\">\n <div class=\"col-md-10 suggested-comparisons pb-3 mb-4\">\n <div class=\"d-flex flex-row\">\n <div class=\"text-center\">\n <div class=\"img-block-yt\">\n <img src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//images//compare-crypto-exchanges.gif/"/n alt=\"Best Crypto Analysis Indicators Explained (Beginner-Friendly Animation)\"\n title=\"Best Crypto Analysis Indicators Explained (Beginner-Friendly Animation)\" class=\"border-0\">\n <p>Video Explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"col-xs-10 col-sm-10 col-md-10 text-left py-3 yt-info\">\n <h4 class=\"mb-1\">Video Explainer: 5 Best Crypto Technical Analysis Indicators You Must Know About<\/h4>\n <p class=\"py-1 mb-0 youtube-video-subtitle\">Reading is not your thing? Watch the \"5 Best Crypto Technical Analysis Indicators You Must Know About\" video explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div class=\"col-12 col-md-11 px-3\">\n <div class=\"wrapper mb-0\">\n <div class=\"position-relative youtube mb-4 bg-transparent p-0 video-modal-popup\" data-toggle=\"modal\"\n data-target=\"#video-modal\" data-id=\"mFyk-zUmWQY\" data-title=\"CryptoFinallyExplained\">\n <div class=\"video-gradient-top\"><\/div>\n <p class=\"text-left dyk-video-title\">Best Crypto Analysis Indicators Explained (Beginner-Friendly Animation)<\/p>\n <img data-srcset=\"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/best-crypto-analysis-indicators-explained-beginner-friendly-animation.jpg?tr=w-420 500w,\n https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/best-crypto-analysis-indicators-explained-beginner-friendly-animation.jpg?tr=w-760 1000w\"\n alt=\"Best Crypto Analysis Indicators Explained (Beginner-Friendly Animation)\"\n title=\"Best Crypto Analysis Indicators Explained (Beginner-Friendly Animation)\"\n class=\"p-0 lazyload\">\n <img class=\"play-button lazyload\" data-target=\"#video-modal\"\n data-src=\"https:\/\/assets.bitdegree.org\/crypto\/assets\/video-button.png?tr=w-85\"\n alt=\"Best Crypto Analysis Indicators Explained (Beginner-Friendly Animation)\">\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div>\n <a href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n class=\"btn yt-promo mb-2\" target=\"_blank\" rel=\"nofollow noopener noindex\">\n <div class=\"row justify-content-center align-items-center mx-0 text-center\">\n <div class=\"col-4 col-md-4\">\n <i class=\"fab fa-youtube yt-dyk-btn\"><\/i>\n <\/div>\n <div class=\"col-8 col-md-8 text-center yt-promo-text\">\n <h4 class=\"m-0 text-white\">SUBSCRIBE<\/h4>\n <span>ON YOUTUBE<\/span>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n<div class=\"modal fade\" id=\"video-modal\" tabindex=\"-1\" role=\"dialog\">\n <div class=\"modal-dialog modal-dialog-centered modal-lg\" role=\"document\">\n <div class=\"modal-content\">\n <div class=\"modal-body p-0\">\n <button type=\"button\" class=\"video-modal-close close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <i aria-hidden=\"true\" class=\"fas fa-times\"><\/i>\n <\/button>\n <div id=\"iframe\"><\/div>\n <\/div>\n <a class=\"text-decoration-none\"\n href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n rel=\"nofollow noopener noindex\" target=\"_blank\">\n <div class=\"modal-footer p-0 d-block bg-white\">\n <div class=\"row justify-content-center m-0\">\n <div class=\"col-3 col-md-4 col-lg-2 p-0\">\n <img class=\"w-100 h-100\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//crypto-subscribe.jpg/" alt=\"Subscribe\">\n <\/div>\n <div class=\"col-9 col-md-8 col-lg-2 px-0 d-flex\">\n <div class=\"modal-subscribe w-100\">\n <p class=\"m-0 mt-1 mr-3\">SUBSCRIBE<br>\n <span class=\"m-0\">ON YOUTUBE<\/span>\n <\/p>\n <\/div>\n <\/div>\n <div class=\"col-12 col-md-12 col-lg-8 p-0 text-center d-flex justify-content-center align-items-center\">\n <div class=\"modal-subscribe-text\">\n <h4 class=\"m-0\">Understand crypto with ease<\/h4>\n <span>New explainer videos every week!<\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n<h2>Moving Average (MA)<\/h2>\n<p>So, let&rsquo;s begin by taking a look at something that&rsquo;s known as &ldquo;<strong>Moving Average<\/strong>.&rdquo; It&rsquo;s a substantial technical analysis indicator that every serious crypto trader is well aware of.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Moving Average (MA).\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-01.jpg/" alt=\"Best technical analysis indicators for crypto: Moving Average (MA).\" width=\"1000\" height=\"588\" \/><\/p>\n<p>Moving average, or &ldquo;MA&rdquo;, is a technical indicator that <strong>helps traders spot price trends<\/strong>. Thanks to it, traders can prepare to buy or sell select assets in advance.<\/p>\n<p>The moving average is calculated by adding up the recent prices of a particular asset, and then dividing that figure by the number of time periods in the calculation average.<\/p>\n<p>Here&rsquo;s what I mean by that. <strong>A crypto asset&rsquo;s price is averaged over a certain time period<\/strong>. Most commonly, these time periods range from 20, 50 or 200 days. For example, a 50-day moving average is calculated by adding up 50 closing prices of a particular coin or token from the last 50 days, and then dividing that number by 50.<\/p>\n<p>Thanks to this indicator, traders can see in <strong>what direction the trend is heading<\/strong>.<\/p>\n<p>So, after calculating the result, and portraying it in a visual way, this indicator allows traders to <strong>see through short-term price fluctuations<\/strong>, making it easier to understand the possible long-term price direction of an asset. It&rsquo;s also why MA is considered one of the best technical analysis indicators for crypto.<\/p>\n<p>If the price is consistently above its moving average, it is considered to be in an uptrend, and if it is consistently below, it is considered to be in a downtrend.<\/p>\n<p>Of course, one could only wish that moving averages were the solution to the risks of trading crypto. <strong>Other indicators, factors, and circumstances should always be taken into account, as well<\/strong>.<\/p>\n<p>That said, let&rsquo;s take a look at yet another option for the best technical analysis indicators for crypto.<\/p>\n<h2>Relative Strength Index (RSI)<\/h2>\n<p>Specifically, &ldquo;<strong>Relative Strength Index<\/strong>&rdquo;, or &ldquo;RSI.&rdquo; It helps traders <strong>understand if a cryptocurrency is overbought<\/strong>, meaning it has been bought too much due to the coin&rsquo;s price drop, or oversold, meaning it&rsquo;s been sold too much because it increased in price.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Relative Strength Index (RSI).\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-02.jpg/" alt=\"Best technical analysis indicators for crypto: Relative Strength Index (RSI).\" width=\"1000\" height=\"515\" \/><\/p>\n<p>Let&rsquo;s simplify this. The RSI is expressed on a <strong>scale from 0 to 100<\/strong>, and is usually measured over a specific time frame, typically 14 days. When its score is <strong>above 70<\/strong>, it means the currency is <strong>overbought<\/strong>. And if a currency is overbought, it sends a signal that its price may go down in the near future.<\/p>\n<p>Now, when the RSI score is <strong>below 30<\/strong>, it&rsquo;s considered to be <strong>oversold<\/strong>. This sends an opposite signal that its price can increase soon.<\/p>\n<p>So, basically, this tool is like a life hack that allows traders to <strong>take a sneak peek into the market&rsquo;s future<\/strong>. Of course, once again, other factors and influences play an important role as well, and RSI should never be used in isolation, since it can result in uninformed trading decisions.<\/p>\n<h2>Bollinger Bands<\/h2>\n<p>Moving on, let&rsquo;s take a look at &ldquo;<strong>Bollinger Bands<\/strong>.&rdquo; Even though the name is very unclear, this technical indicator makes things far clearer for traders.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Bollinger Bands.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-03.jpg/" alt=\"Best technical analysis indicators for crypto: Bollinger Bands.\" width=\"1000\" height=\"573\" \/><\/p>\n<p>It&rsquo;s used to <strong>measure the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-volatility/">volatility in the price of a particular cryptocurrency<\/strong>. It achieves this by creating a visual representation of how much a crypto asset&rsquo;s price has drifted away from the average.<\/p>\n<p>Once again, it allows traders to <strong>predict whether the coin is being overbought, or oversold<\/strong>. Just like with the &ldquo;Relative Strength Index,&rdquo; this allows them to take an informed guess about whether the price is about to go up or down.<\/p>\n<p>Here&rsquo;s how Bollinger Bands are used in practice. This index is expressed in two bands on a price chart - the upper one, and the lower one.<\/p>\n<p>When the crypto coin&rsquo;s price <strong>rises and reaches (or breaks through) the upper band<\/strong>, it can be read as a signal that a <strong>price reversal<\/strong> is on its way - in other words, that it can go down soon. Traders can use this information as a hint that selling their holdings right now could be the right thing to do.<\/p>\n<p>When the <strong>price reaches the lower band<\/strong>, it can be understood as a signal to do the exact opposite - to buy the tokens, since <strong>their price may increase any day<\/strong>, or any minute, from now.<\/p>\n<h2>Ichimoku Cloud<\/h2>\n<p>Now, let&rsquo;s take a look at something that at least sounds less technical. I&rsquo;m talking about the &ldquo;<strong>Ichimoku Cloud<\/strong>.&rdquo; This poetic-sounding indicator is a powerful tool in the hands of those who know how to use it correctly.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Ichimoku Cloud.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-04.jpg/" alt=\"Best technical analysis indicators for crypto: Ichimoku Cloud.\" width=\"1000\" height=\"539\" \/><\/p>\n<p>Similarly to other crypto indicators, the Ichimoku Cloud <strong>helps traders identify potential trend reversals<\/strong>, plan their investment actions ahead, and scan the overall market sentiment. It&rsquo;s called a &ldquo;<em>cloud<\/em>,&rdquo; because it resembles one, when visualized on a price chart.<\/p>\n<p>This cloud is <strong>made up of two lines<\/strong>. Line A and Line B. Respectively, they represent the average of the highest high and lowest low of a particular crypto coin over a specific period of time.<\/p>\n<p>Now, once traders take a look at the cloud, they can see what the coin&rsquo;s price is up to. When <strong>the price is above the cloud<\/strong>, traders can interpret it as a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-bull-market/">bullish signal<\/strong><\/a>. Specifically, it sends a signal that the price is up. When <strong>the price is below the cloud<\/strong>, traders read it as a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-bear-market/">bearish signal<\/strong><\/a> - there&rsquo;s a downwards trend.<\/p>\n<p>This helps them understand how the coin is going to perform in the upcoming days, thus informing them about whether it&rsquo;s the right time to buy or sell.<\/p>\n<p>By the way, if you want to learn more about <strong>what &ldquo;bullish&rdquo; and &ldquo;bearish&rdquo; signals are<\/strong>, you should check out <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-bullish-and-bearish/">the section<\/strong><\/a> dedicated to this topic!<\/p>\n<p>Overall, this indicator is a powerful source of insights for traders. But, just like with any other indicator - it should not be relied upon entirely, since the crypto market is way too versatile and complex.<\/p>\n<h2>Fibonacci Retracement<\/h2>\n<p>Now, as the cherry on top, let&rsquo;s address something that sounds the most fun. Everyone&rsquo;s heard of the <strong>Fibonacci Sequence<\/strong>. Found everywhere, from Baroque paintings to memes, this &ldquo;<em>Fibonacci<\/em>&rdquo; has its practical application in crypto, as well. But, in crypto, it&rsquo;s called the &ldquo;<strong>Fibonacci Retracement<\/strong>.&rdquo;<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Fibonacci Retracement.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-05.jpg/" alt=\"Best technical analysis indicators for crypto: Fibonacci Retracement.\" width=\"1000\" height=\"550\" \/><\/p>\n<p>It&rsquo;s a technical analysis tool used by traders to <strong>predict an asset's price movement<\/strong>. It is based on the famous Fibonacci sequence, the satisfying mathematical concept in which each number is the sum of the two preceding numbers, and, when expressed visually, becomes recognizable because of its universal application in measuring visual symmetry.<\/p>\n<p>In the context of crypto, Fibonacci retracement is used to <strong>identify potential price levels, and their trends<\/strong>.<\/p>\n<p>This is how it&rsquo;s used in practice. First, a trader has to <strong>identify the high and low points<\/strong> of the cryptocurrency's price movement over a fixed period of time. Then, they would <strong>draw horizontal lines<\/strong> through these points to create a \"<strong>retracement grid<\/strong>\" on the chart. Having done that, the trader has established the possible price levels that may act as areas of support or resistance for the price.<\/p>\n<p>Now, what are these areas of &ldquo;<em>support<\/em>&rdquo; and &ldquo;<em>resistance<\/em>&rdquo; in crypto?<\/p>\n<p>These concepts are used to identify the potential price levels that may play a key role in changing how the market reacts to a particular <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//tutorials//token-vs-coin/">coin or token<\/strong><\/a>. When an asset reaches a particular price, if it&rsquo;s low - it&rsquo;s called the <strong>support<\/strong>, if it&rsquo;s high - it&rsquo;s called <strong>resistance<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Best technical analysis indicators for crypto: Support and Resistance.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//best-technical-analysis-indicators-for-crypto-06.jpg/" alt=\"Best technical analysis indicators for crypto: Support and Resistance.\" width=\"1000\" height=\"610\" \/><\/p>\n<p>When a price reaches its support level, <strong>the demand for this asset can get strong<\/strong>, which would stop the asset&rsquo;s price from falling down further.<\/p>\n<p>When a price reaches its resistance level, traders understand that <strong>the cryptocurrency is performing strong enough<\/strong>, and it becomes safer to assume that its price will not continue increasing in the nearest future. So, when traders observe price movements, they follow support and resistance levels to catch signals about new buying and selling opportunities.<\/p>\n<p>In short, the Fibonacci Retracement allows traders to <strong>look for a pattern between the support and resistance levels<\/strong>.<\/p>\n<p>For instance, a trader may look at the Fibonacci retracement levels as <strong>potential places of support<\/strong> where the price may begin its rebound, and start heading back up. And if a cryptocurrency is in an uptrend, this tool gives a hint about <strong>when its price may start declining<\/strong>. It&rsquo;s yet another smart life-hack that allows traders to try and predict the future of the highly volatile crypto market.<\/p>\n<h2>Wrapping Up<\/h2>\n<p>There are many lists of the best technical analysis indicators for crypto. In this section, <strong>I&rsquo;ve covered 5 of these tools<\/strong>. Every advanced trader is well aware of them, and employs them on a daily basis.<\/p>\n<p>The debate about which indicator is the best one is dubious. On the one hand, many people have their preferences. On the other hand, it&rsquo;s safe to say that <strong>relying on a single analysis indicator is not only insufficient, but it&rsquo;s dangerous, stupid even<\/strong>.<\/p>\n<p>The crypto market is in perpetual motion, and it&rsquo;s impossible to find a solution for all the problems that traders run into every day. Therefore, the best approach is to educate oneself, understand the importance of technical analysis indicators, and find which ones are the best for you.<\/p>","youtube_video":{"id":78,"channel_id":1,"sort":31,"video_title":"Best Crypto Analysis Indicators Explained (Beginner-Friendly Animation)","description":"What are the best technical analysis indicators for crypto?\n\nMoving Average (MA), Relative Strength Index (RSI), Bollinger Bands, Ichimoku Cloud\u2026 You name it! All these scary-sounding indexes are something that every serious trader has to be aware of!\n\nIn this video, I'll explain what are the best technical analysis indicators for crypto, what\u2019s their purpose and how useful they are in everyday trading. They range from simple to complex, so no matter your level of experience, you\u2019ll still be able to find something useful in this video! \n\nWhat\u2019s your favorite technical analysis indicator? Do you think there are others that are of essential importance and require coverage and introduction? If you have any ideas, suggestions, comments or insights, share them in the comment section below!\n\nVideo Time Table:\n\n0:00 Introduction to Best Crypto Analysis Indicators\n1:04 Moving Average (MA)\n2:35 Relative Strength Index (RSI)\n3:29 Bollinger Bands\n4:39 Ichimoku Cloud\n5:56 Fibonacci Retracement\n8:05 Wrap-up: Best Crypto Analysis Indicators Explained\n\nGet Quick Crypto Tips on Twitter - Follow:\nhttps:\/\/twitter.com\/crypto_xplained \n\n#CryptoAnalysis #CryptoTrading #CryptoSignals","video_id":"mFyk-zUmWQY","duration":555,"view_count":192,"thumbnail_url":"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/best-crypto-analysis-indicators-explained-beginner-friendly-animation.jpg","thumbnail_width":1280,"thumbnail_height":720,"published_at":"2023-06-02T14:53:29.000000Z","created_at":"2023-06-02T23:00:11.000000Z","updated_at":"2024-01-09T23:00:04.000000Z","channel":{"id":1,"title":"CryptoFinallyExplained","channel_id":"UCOryUY0yxC08eJtK23mNgiA","main_playlist_id":"UUOryUY0yxC08eJtK23mNgiA"}}}" :model="{"id":481,"chapter_id":8,"order":3,"featured_image_id":3095,"youtube_video_id":81,"author_id":1,"created_at":"2023-04-28T08:58:04.000000Z","updated_at":"2023-12-28T09:25:49.000000Z","slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","content":"<p>In this section, we&rsquo;re going to dive into crypto technical analysis and face the scary question of what is &lsquo;<strong>candlesticks, patterns and trendlines<\/strong>.&rsquo;<\/p>\n<p>For beginners, the sight of candlestick charts is not a pleasant experience. It looks colorful, confusing, and very complex. Nothing makes sense, and everything seems to be of crucial importance. But knowing <strong>how to read candlesticks<\/strong> is in itself like a candle - it can shine a light in the darkness of uncertainty!<\/p>\n<p>Once a trader learns how to access and understand this information, new possibilities get unlocked. That&rsquo;s what I&rsquo;m here for - to give you the essentials of this topic, so you could literally level up your trading game.<\/p>\n<p>In this section, we&rsquo;re going to answer the questions of what is &lsquo;candlesticks&rsquo; and how to read them, what is &lsquo;trendlines&rsquo;, and patterns, and other related, yet problematic for many, concepts. By the end of your reading, <strong>you&rsquo;ll no longer fear those red-and-greenish charts<\/strong>!<\/p>\n<h2>What are Candlesticks?<\/h2>\n<p>To start off, <strong>candlesticks<\/strong>, these confusing-looking colorful rectangles, are the poster boy for crypto technical analysis. It only makes sense to begin by explaining what &lsquo;candlesticks&rsquo; is, the theory of how to read them, and what their purpose is.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Candlesticks graph.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-01.jpg/" alt=\"What is candlesticks: Candlesticks graph.\" width=\"1000\" height=\"519\" \/><\/p>\n<p>First of all, they&rsquo;re called candlesticks because&hellip; <strong>They resemble candlesticks<\/strong>. <em>But if only things were that simple!<\/em><\/p>\n<p>Crypto candlesticks are a technical analysis tool that allows traders to <strong>observe cryptocurrency price movements over a given period of time<\/strong>. It&rsquo;s a visual representation of these price movements, and it allows traders to immediately tell the ongoing trends, and identify if there&rsquo;s a pattern in them.<\/p>\n<p>Of course, crypto is known for how <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-volatility/">volatile its market is. Sudden changes in price movement can appear very quickly. Therefore, candlesticks are used to represent a certain time period and the change that happened during it. Different people use candlesticks to track different time periods. Among popular options, they can range <strong>from 1 minute to 1 month<\/strong>.<\/p>\n<p><em>Now, let&rsquo;s take a look at how to read candlesticks.<\/em><\/p>\n<p>First of all, candlesticks <strong>come in two colors<\/strong>. Green and red.<\/p>\n<p><strong>A red candlestick<\/strong> means that the cryptocurrency&rsquo;s price decreased during the set trading period. To be more precise, it shows that the crypto&rsquo;s closing price was lower than the opening price.<\/p>\n<p><strong>A green candlestick<\/strong> means that its price increased during the same set trading period. Similarly, it shows that the coin&rsquo;s closing price was higher than the opening price.<\/p>\n<p>To comprehend this better, it&rsquo;s crucial to have a clear understanding of what &lsquo;<em>opening<\/em>&rsquo; and &lsquo;<em>closing<\/em>&rsquo; prices are.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Opening and closing prices.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-02.jpg/" alt=\"What is candlesticks: Opening and closing prices.\" width=\"1000\" height=\"508\" \/><\/p>\n<p>The<strong> opening price <\/strong>is the price of a coin at the start of a particular time period. The<strong> closing price<\/strong>, naturally, is the price of the coin at the end of that time period. These time periods are set manually, and depend on what traders are interested in.<\/p>\n<p><em>Here&rsquo;s an example.<\/em> Right now, <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin&rsquo;s price is different than it will be by the time you finish reading this section. So, a candlestick would represent Bitcoin price movement during these minutes - what was its price when you began reading this section, and how did it look by the end of your reading. If the price increased, the candlestick would be green, and it would be red if it had gone down.<\/p>\n<p><em>But what are those little wicks on the top and bottom of each of the candlesticks?<\/em><\/p>\n<p>Also known as tails, or shadows, the <strong>candlestick wicks represent the highest and lowest price points reached during the time period<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Tails.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-03.jpg/" alt=\"What is candlesticks: Tails.\" width=\"1000\" height=\"538\" \/><\/p>\n<p>You&rsquo;ll easily notice that most of these wicks differ in length. Let&rsquo;s say you see a red candlestick with <strong>the wick on the top of it being longer than the one on the bottom<\/strong>. This shows that the particular crypto&rsquo;s price reached a high point during the set time period, but, at the end of it, it fell back down, and the closing price was lower than the opening one.<\/p>\n<p>Now, if <strong>the wick on the bottom of a candlestick is longer<\/strong>, this signifies the opposite. It shows that the asset's price fell significantly low during the set time period, but, eventually, recovered, and its closing price was higher than the opening price. Therefore, such a candlestick would be green.<\/p>\n<p>Simply put, knowing how to read candlesticks allows traders to plan their next move. Thanks to this method, they can <strong>recognize potential asset's price patterns<\/strong>, and therefore, make more informed decisions.<\/p>\n<p><em>But what is &lsquo;patterns,&rsquo; actually, and how to recognize them?<\/em><\/p>\n<h2>What are Patterns?<\/h2>\n<p>In the context of crypto, <strong>patterns refer to specific shapes within a price chart that are recurring from time to time<\/strong>. They suggest what the prices may look like in the near future, based on how they&rsquo;ve looked in the past. It&rsquo;s the crypto version of noticing repetitive, cyclical patterns of behavior.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Patterns.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-04.jpg/" alt=\"What is candlesticks: Patterns.\" width=\"1000\" height=\"603\" \/><\/p>\n<p>So, candlestick patterns are exactly that. Various cryptocurrency prices behave rather unpredictably, but, nevertheless, patterns appear. And, when visualized in the shape of candlesticks, it becomes a powerful tool for traders to <strong>scan the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-sentiment/">market sentiment<\/a>, feel its <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-market-momentum/">momentum, or look out for bearish and bullish signals<\/strong>.<\/p>\n<p>By the way, if you want to learn more about what those bearish and bullish signals are, check out <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-bullish-and-bearish/">this section<\/strong><\/a> that is explaining exactly that!<\/p>\n<p>Okay, so back to candlestick patterns. Let&rsquo;s take a look at some <strong>well-known patterns<\/strong> that every serious trader could recognize in a second. <em>Specifically, let&rsquo;s begin with a few notable bullish patterns.<\/em><\/p>\n<p>First, <strong>The Hammer Pattern<\/strong>. It&rsquo;s called that because this candlestick looks more like a hammer than a candle. It&rsquo;s a famous <strong>bullish reversal pattern<\/strong> which is formed at the bottom of a downtrend. So, whenever traders notice it, they can predict price movement with more certainty.<\/p>\n<p>Another bullish pattern is known as the <strong>Bullish engulfing<\/strong>. It&rsquo;s called that because it&rsquo;s formed when a bullish candlestick engulfs the previous bearish candlestick. It&rsquo;s a bullish pattern, because it suggests that<strong> a price increase is on its way<\/strong>.<\/p>\n<p><strong>The Morning star<\/strong> is yet another important bullish pattern. It&rsquo;s formed by three candlesticks: one short candle between two long ones. The way this pattern is called implies that the short-bodied candle is the star that is rising, and thus, ending the night, a.k.a. <strong>a downwards trend<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: The Morning star.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-05.jpg/" alt=\"What is candlesticks: The Morning star.\" width=\"1000\" height=\"630\" \/><\/p>\n<p><em>Now, let&rsquo;s take a look at some bearish candlestick patterns.<\/em><\/p>\n<p>The opposite of The Hammer is known as <strong>the Hanging man<\/strong>: Even though it looks like a hammer, it signifies the opposite - <strong>a potential reversal of the price movement<\/strong>. Unlike the Hammer, this pattern is formed at the top of an uptrend.<\/p>\n<p>In contrast to Bullish engulfing, there&rsquo;s also <strong>Bearish engulfing<\/strong>: They are the opposites of each other. Bearish engulfing forms when a bearish candlestick entirely engulfs the previous bullish candlestick.<\/p>\n<p>Finally, <strong>the Evening star<\/strong>: Once again, it&rsquo;s the opposite of the Morning star. It consists of three candlesticks, yet with their meanings inverted. Thus, the Evening star pattern suggests that the day, a.k.a. <strong>an uptrend is coming to an end<\/strong>, and it's about to get dark. But experienced traders are not afraid of it - they know they can light their way using candles.<\/p>\n<h2>What is a Trendline?<\/h2>\n<p>But candlestick charts have even more potential. Apart from forming patterns that help traders navigate through the sea of uncertainty, they also provide data so that <strong>trendlines<\/strong> could be drawn.<\/p>\n<p><em>But, what is &lsquo;trendlines&rsquo;?<\/em><\/p>\n<p>Just like patterns, trendlines are a useful technical analysis tool that helps traders to weigh in various trading decisions. Yet, these two tools serve different purposes!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Trendline.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-06.jpg/" alt=\"What is candlesticks: Trendline.\" width=\"1000\" height=\"561\" \/><\/p>\n<p>When you <strong>connect the high or low points of candlesticks with a straight line<\/strong>, you end up with a trendline.<\/p>\n<p>Its main purpose is to <strong>identify the direction of the trend<\/strong>, whether it is an uptrend or a downtrend.<\/p>\n<p>For example, a trendline, that&rsquo;s drawn by <strong>connecting the lowest points of candlesticks<\/strong>, is referred to as <strong>support<\/strong>. It&rsquo;s a level below which the price is not expected to drop even lower. Therefore, knowing at what price the support level is, allows traders to evaluate the situation of various coins in more precise values.<\/p>\n<p>Analogically, <strong>a trendline connecting highs is referred to as resistance<\/strong>. It marks a level above which the price is not predicted to rise. So, thanks to trendlines, traders are able to avoid such emotions as <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-fud/">FUD or <strong><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-fomo/">FOMO, because if they&rsquo;re aware of the price&rsquo;s resistance level, no rumors are going to convince them to jump on any bandwagon without any critical evaluation of their decision.<\/p>\n<p>By the way, if you want to learn more about what role emotions play in the crypto market, be sure to check out <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-fud/">this section<\/strong><\/a>!<\/p>\n<p>So, <strong>trendlines<\/strong> help traders recognize in what direction the market is currently going. Meanwhile, <strong>candlestick patterns<\/strong> allow them to identify likely changes in those trends. Quite obviously, these tools are supplementary to each other, and it&rsquo;s not a surprise that most professional traders use them both.<\/p>\n<h2>Wrapping Up<\/h2>\n<p>Having said that, it&rsquo;s time to call it a wrap. I hope that with all this new information, the question of what is &lsquo;candlesticks&rsquo; has become clear as day! And, that the questions of what is 'patterns' and what is 'trendlines' have been answered as well. Overall, these terms should become part of your vocabulary, and, eventually, second nature.<\/p>","definition":"Did you know that candlestick charts illustrate how the price of a certain asset moved over a given time period?","status":"published","meta_title":"What is 'Candlesticks, Trendlines, and Patterns' in Crypto?","meta_description":"Trying to figure out 'what is candlesticks?' Here, you'll find out what are candlesticks, trendlines, and patterns in technical analysis!","meta_keywords":"what is candlesticks, what is trendlines, what is patterns, how to read candlesticks, what is the term for repetitive, cyclical patterns of behavior","modified_content":"<p>In this section, we&rsquo;re going to dive into crypto technical analysis and face the scary question of what is &lsquo;<strong>candlesticks, patterns and trendlines<\/strong>.&rsquo;<\/p>\n<p>For beginners, the sight of candlestick charts is not a pleasant experience. It looks colorful, confusing, and very complex. Nothing makes sense, and everything seems to be of crucial importance. But knowing <strong>how to read candlesticks<\/strong> is in itself like a candle - it can shine a light in the darkness of uncertainty!<\/p>\n<p>Once a trader learns how to access and understand this information, new possibilities get unlocked. That&rsquo;s what I&rsquo;m here for - to give you the essentials of this topic, so you could literally level up your trading game.<\/p>\n<p>In this section, we&rsquo;re going to answer the questions of what is &lsquo;candlesticks&rsquo; and how to read them, what is &lsquo;trendlines&rsquo;, and patterns, and other related, yet problematic for many, concepts. By the end of your reading, <strong>you&rsquo;ll no longer fear those red-and-greenish charts<\/strong>!<\/p>\n<div class=\"container\">\n <div class=\"row justify-content-center\">\n <div class=\"col-md-10 suggested-comparisons pb-3 mb-4\">\n <div class=\"d-flex flex-row\">\n <div class=\"text-center\">\n <div class=\"img-block-yt\">\n <img src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//images//compare-crypto-exchanges.gif/"/n alt=\"Candlesticks, Trendlines &amp; Patterns Easily Explained (Animated Examples)\"\n title=\"Candlesticks, Trendlines &amp; Patterns Easily Explained (Animated Examples)\" class=\"border-0\">\n <p>Video Explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"col-xs-10 col-sm-10 col-md-10 text-left py-3 yt-info\">\n <h4 class=\"mb-1\">Video Explainer: Technical Analysis: What are Candlesticks, Trendlines, and Patterns?<\/h4>\n <p class=\"py-1 mb-0 youtube-video-subtitle\">Reading is not your thing? Watch the \"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?\" video explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div class=\"col-12 col-md-11 px-3\">\n <div class=\"wrapper mb-0\">\n <div class=\"position-relative youtube mb-4 bg-transparent p-0 video-modal-popup\" data-toggle=\"modal\"\n data-target=\"#video-modal\" data-id=\"yfuNLhF4F6g\" data-title=\"CryptoFinallyExplained\">\n <div class=\"video-gradient-top\"><\/div>\n <p class=\"text-left dyk-video-title\">Candlesticks, Trendlines &amp; Patterns Easily Explained (Animated Examples)<\/p>\n <img data-srcset=\"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/candlesticks-trendlines-patterns-easily-explained-animated-examples.jpg?tr=w-420 500w,\n https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/candlesticks-trendlines-patterns-easily-explained-animated-examples.jpg?tr=w-760 1000w\"\n alt=\"Candlesticks, Trendlines &amp; Patterns Easily Explained (Animated Examples)\"\n title=\"Candlesticks, Trendlines &amp; Patterns Easily Explained (Animated Examples)\"\n class=\"p-0 lazyload\">\n <img class=\"play-button lazyload\" data-target=\"#video-modal\"\n data-src=\"https:\/\/assets.bitdegree.org\/crypto\/assets\/video-button.png?tr=w-85\"\n alt=\"Candlesticks, Trendlines &amp; Patterns Easily Explained (Animated Examples)\">\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div>\n <a href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n class=\"btn yt-promo mb-2\" target=\"_blank\" rel=\"nofollow noopener noindex\">\n <div class=\"row justify-content-center align-items-center mx-0 text-center\">\n <div class=\"col-4 col-md-4\">\n <i class=\"fab fa-youtube yt-dyk-btn\"><\/i>\n <\/div>\n <div class=\"col-8 col-md-8 text-center yt-promo-text\">\n <h4 class=\"m-0 text-white\">SUBSCRIBE<\/h4>\n <span>ON YOUTUBE<\/span>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n<div class=\"modal fade\" id=\"video-modal\" tabindex=\"-1\" role=\"dialog\">\n <div class=\"modal-dialog modal-dialog-centered modal-lg\" role=\"document\">\n <div class=\"modal-content\">\n <div class=\"modal-body p-0\">\n <button type=\"button\" class=\"video-modal-close close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <i aria-hidden=\"true\" class=\"fas fa-times\"><\/i>\n <\/button>\n <div id=\"iframe\"><\/div>\n <\/div>\n <a class=\"text-decoration-none\"\n href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n rel=\"nofollow noopener noindex\" target=\"_blank\">\n <div class=\"modal-footer p-0 d-block bg-white\">\n <div class=\"row justify-content-center m-0\">\n <div class=\"col-3 col-md-4 col-lg-2 p-0\">\n <img class=\"w-100 h-100\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//crypto-subscribe.jpg/" alt=\"Subscribe\">\n <\/div>\n <div class=\"col-9 col-md-8 col-lg-2 px-0 d-flex\">\n <div class=\"modal-subscribe w-100\">\n <p class=\"m-0 mt-1 mr-3\">SUBSCRIBE<br>\n <span class=\"m-0\">ON YOUTUBE<\/span>\n <\/p>\n <\/div>\n <\/div>\n <div class=\"col-12 col-md-12 col-lg-8 p-0 text-center d-flex justify-content-center align-items-center\">\n <div class=\"modal-subscribe-text\">\n <h4 class=\"m-0\">Understand crypto with ease<\/h4>\n <span>New explainer videos every week!<\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n<h2>What are Candlesticks?<\/h2>\n<p>To start off, <strong>candlesticks<\/strong>, these confusing-looking colorful rectangles, are the poster boy for crypto technical analysis. It only makes sense to begin by explaining what &lsquo;candlesticks&rsquo; is, the theory of how to read them, and what their purpose is.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Candlesticks graph.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-01.jpg/" alt=\"What is candlesticks: Candlesticks graph.\" width=\"1000\" height=\"519\" \/><\/p>\n<p>First of all, they&rsquo;re called candlesticks because&hellip; <strong>They resemble candlesticks<\/strong>. <em>But if only things were that simple!<\/em><\/p>\n<p>Crypto candlesticks are a technical analysis tool that allows traders to <strong>observe cryptocurrency price movements over a given period of time<\/strong>. It&rsquo;s a visual representation of these price movements, and it allows traders to immediately tell the ongoing trends, and identify if there&rsquo;s a pattern in them.<\/p>\n<p>Of course, crypto is known for how <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-volatility/">volatile its market is. Sudden changes in price movement can appear very quickly. Therefore, candlesticks are used to represent a certain time period and the change that happened during it. Different people use candlesticks to track different time periods. Among popular options, they can range <strong>from 1 minute to 1 month<\/strong>.<\/p>\n<p><em>Now, let&rsquo;s take a look at how to read candlesticks.<\/em><\/p>\n<p>First of all, candlesticks <strong>come in two colors<\/strong>. Green and red.<\/p>\n<p><strong>A red candlestick<\/strong> means that the cryptocurrency&rsquo;s price decreased during the set trading period. To be more precise, it shows that the crypto&rsquo;s closing price was lower than the opening price.<\/p>\n<p><strong>A green candlestick<\/strong> means that its price increased during the same set trading period. Similarly, it shows that the coin&rsquo;s closing price was higher than the opening price.<\/p>\n<p>To comprehend this better, it&rsquo;s crucial to have a clear understanding of what &lsquo;<em>opening<\/em>&rsquo; and &lsquo;<em>closing<\/em>&rsquo; prices are.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Opening and closing prices.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-02.jpg/" alt=\"What is candlesticks: Opening and closing prices.\" width=\"1000\" height=\"508\" \/><\/p>\n<p>The<strong> opening price <\/strong>is the price of a coin at the start of a particular time period. The<strong> closing price<\/strong>, naturally, is the price of the coin at the end of that time period. These time periods are set manually, and depend on what traders are interested in.<\/p>\n<p><em>Here&rsquo;s an example.<\/em> Right now, <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin&rsquo;s price is different than it will be by the time you finish reading this section. So, a candlestick would represent Bitcoin price movement during these minutes - what was its price when you began reading this section, and how did it look by the end of your reading. If the price increased, the candlestick would be green, and it would be red if it had gone down.<\/p>\n<p><em>But what are those little wicks on the top and bottom of each of the candlesticks?<\/em><\/p>\n<p>Also known as tails, or shadows, the <strong>candlestick wicks represent the highest and lowest price points reached during the time period<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Tails.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-03.jpg/" alt=\"What is candlesticks: Tails.\" width=\"1000\" height=\"538\" \/><\/p>\n<p>You&rsquo;ll easily notice that most of these wicks differ in length. Let&rsquo;s say you see a red candlestick with <strong>the wick on the top of it being longer than the one on the bottom<\/strong>. This shows that the particular crypto&rsquo;s price reached a high point during the set time period, but, at the end of it, it fell back down, and the closing price was lower than the opening one.<\/p>\n<p>Now, if <strong>the wick on the bottom of a candlestick is longer<\/strong>, this signifies the opposite. It shows that the asset's price fell significantly low during the set time period, but, eventually, recovered, and its closing price was higher than the opening price. Therefore, such a candlestick would be green.<\/p>\n<p>Simply put, knowing how to read candlesticks allows traders to plan their next move. Thanks to this method, they can <strong>recognize potential asset's price patterns<\/strong>, and therefore, make more informed decisions.<\/p>\n<p><em>But what is &lsquo;patterns,&rsquo; actually, and how to recognize them?<\/em><\/p>\n<h2>What are Patterns?<\/h2>\n<p>In the context of crypto, <strong>patterns refer to specific shapes within a price chart that are recurring from time to time<\/strong>. They suggest what the prices may look like in the near future, based on how they&rsquo;ve looked in the past. It&rsquo;s the crypto version of noticing repetitive, cyclical patterns of behavior.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Patterns.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-04.jpg/" alt=\"What is candlesticks: Patterns.\" width=\"1000\" height=\"603\" \/><\/p>\n<p>So, candlestick patterns are exactly that. Various cryptocurrency prices behave rather unpredictably, but, nevertheless, patterns appear. And, when visualized in the shape of candlesticks, it becomes a powerful tool for traders to <strong>scan the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-sentiment/">market sentiment<\/a>, feel its <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-market-momentum/">momentum, or look out for bearish and bullish signals<\/strong>.<\/p>\n<p>By the way, if you want to learn more about what those bearish and bullish signals are, check out <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-bullish-and-bearish/">this section<\/strong><\/a> that is explaining exactly that!<\/p>\n<p>Okay, so back to candlestick patterns. Let&rsquo;s take a look at some <strong>well-known patterns<\/strong> that every serious trader could recognize in a second. <em>Specifically, let&rsquo;s begin with a few notable bullish patterns.<\/em><\/p>\n<p>First, <strong>The Hammer Pattern<\/strong>. It&rsquo;s called that because this candlestick looks more like a hammer than a candle. It&rsquo;s a famous <strong>bullish reversal pattern<\/strong> which is formed at the bottom of a downtrend. So, whenever traders notice it, they can predict price movement with more certainty.<\/p>\n<p>Another bullish pattern is known as the <strong>Bullish engulfing<\/strong>. It&rsquo;s called that because it&rsquo;s formed when a bullish candlestick engulfs the previous bearish candlestick. It&rsquo;s a bullish pattern, because it suggests that<strong> a price increase is on its way<\/strong>.<\/p>\n<p><strong>The Morning star<\/strong> is yet another important bullish pattern. It&rsquo;s formed by three candlesticks: one short candle between two long ones. The way this pattern is called implies that the short-bodied candle is the star that is rising, and thus, ending the night, a.k.a. <strong>a downwards trend<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: The Morning star.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-05.jpg/" alt=\"What is candlesticks: The Morning star.\" width=\"1000\" height=\"630\" \/><\/p>\n<p><em>Now, let&rsquo;s take a look at some bearish candlestick patterns.<\/em><\/p>\n<p>The opposite of The Hammer is known as <strong>the Hanging man<\/strong>: Even though it looks like a hammer, it signifies the opposite - <strong>a potential reversal of the price movement<\/strong>. Unlike the Hammer, this pattern is formed at the top of an uptrend.<\/p>\n<p>In contrast to Bullish engulfing, there&rsquo;s also <strong>Bearish engulfing<\/strong>: They are the opposites of each other. Bearish engulfing forms when a bearish candlestick entirely engulfs the previous bullish candlestick.<\/p>\n<p>Finally, <strong>the Evening star<\/strong>: Once again, it&rsquo;s the opposite of the Morning star. It consists of three candlesticks, yet with their meanings inverted. Thus, the Evening star pattern suggests that the day, a.k.a. <strong>an uptrend is coming to an end<\/strong>, and it's about to get dark. But experienced traders are not afraid of it - they know they can light their way using candles.<\/p>\n<h2>What is a Trendline?<\/h2>\n<p>But candlestick charts have even more potential. Apart from forming patterns that help traders navigate through the sea of uncertainty, they also provide data so that <strong>trendlines<\/strong> could be drawn.<\/p>\n<p><em>But, what is &lsquo;trendlines&rsquo;?<\/em><\/p>\n<p>Just like patterns, trendlines are a useful technical analysis tool that helps traders to weigh in various trading decisions. Yet, these two tools serve different purposes!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"What is candlesticks: Trendline.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//what-is-candlesticks-06.jpg/" alt=\"What is candlesticks: Trendline.\" width=\"1000\" height=\"561\" \/><\/p>\n<p>When you <strong>connect the high or low points of candlesticks with a straight line<\/strong>, you end up with a trendline.<\/p>\n<p>Its main purpose is to <strong>identify the direction of the trend<\/strong>, whether it is an uptrend or a downtrend.<\/p>\n<p>For example, a trendline, that&rsquo;s drawn by <strong>connecting the lowest points of candlesticks<\/strong>, is referred to as <strong>support<\/strong>. It&rsquo;s a level below which the price is not expected to drop even lower. Therefore, knowing at what price the support level is, allows traders to evaluate the situation of various coins in more precise values.<\/p>\n<p>Analogically, <strong>a trendline connecting highs is referred to as resistance<\/strong>. It marks a level above which the price is not predicted to rise. So, thanks to trendlines, traders are able to avoid such emotions as <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-fud/">FUD or <strong><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-fomo/">FOMO, because if they&rsquo;re aware of the price&rsquo;s resistance level, no rumors are going to convince them to jump on any bandwagon without any critical evaluation of their decision.<\/p>\n<p>By the way, if you want to learn more about what role emotions play in the crypto market, be sure to check out <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//what-is-fud/">this section<\/strong><\/a>!<\/p>\n<p>So, <strong>trendlines<\/strong> help traders recognize in what direction the market is currently going. Meanwhile, <strong>candlestick patterns<\/strong> allow them to identify likely changes in those trends. Quite obviously, these tools are supplementary to each other, and it&rsquo;s not a surprise that most professional traders use them both.<\/p>\n<h2>Wrapping Up<\/h2>\n<p>Having said that, it&rsquo;s time to call it a wrap. I hope that with all this new information, the question of what is &lsquo;candlesticks&rsquo; has become clear as day! And, that the questions of what is 'patterns' and what is 'trendlines' have been answered as well. Overall, these terms should become part of your vocabulary, and, eventually, second nature.<\/p>","youtube_video":{"id":81,"channel_id":1,"sort":30,"video_title":"Candlesticks, Trendlines & Patterns Easily Explained (Animated Examples)","description":"What\u2019s \u2018candlesticks\u2019? What\u2019s \u2018trendlines\u2019? These are among the questions that I answer in this video.\n\nCrypto technical analysis doesn\u2019t look appealing to newcomers. Seeing those colorful, yet absolutely confusing candlestick charts is often nightmare fuel for a crypto beginner. But, when you understand it, the candlesticks begin shining like real candles in the darkness of ignorance. \n\nIn this video, I'll explain candlesticks, patterns, and trendlines. These seemingly complex, yet very much interconnected concepts supplement each other, and once you learn about one of them, it only makes sense to walk that extra mile, and learn about all of them.\n\nHow would you rate your knowledge about crypto candlesticks? Are you fluent in reading them? Do you use them on a daily basis while trading? If you have any comments, suggestions, or insights, share them in the comment section below!\n\nVideo Time Table:\n\n0:00 Introduction to Candlesticks, Trendlines & Patterns in Crypto\n1:00 What Are Crypto Candlesticks?\n3:48 What Are Patterns in Crypto?\n6:07 What Are Trendlines?\n7:37 Wrap-up: Candlesticks, Trendlines & Patterns Explained\n\nGet Quick Crypto Tips on Twitter - Follow:\nhttps:\/\/twitter.com\/crypto_xplained \n\n#Candlestick #Trendline #CandlestickPattern","video_id":"yfuNLhF4F6g","duration":493,"view_count":148,"thumbnail_url":"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/candlesticks-trendlines-patterns-easily-explained-animated-examples.jpg","thumbnail_width":1280,"thumbnail_height":720,"published_at":"2023-06-07T14:51:14.000000Z","created_at":"2023-06-07T23:00:08.000000Z","updated_at":"2024-01-09T23:00:04.000000Z","channel":{"id":1,"title":"CryptoFinallyExplained","channel_id":"UCOryUY0yxC08eJtK23mNgiA","main_playlist_id":"UUOryUY0yxC08eJtK23mNgiA"}},"featured_image":{"id":3095,"uuid":"86822f91-77f1-4b44-891b-0505340114d5","name":"what-is-candlesticks-featured-image.jpg","url":"https:\/\/assets.bitdegree.org\/crypto\/storage\/optimized\/what-is-candlesticks-featured-image.jpg","path":"crypto\/storage\/optimized\/what-is-candlesticks-featured-image.jpg","mime_type":"image\/jpeg","disk":"digitalOceanSpaces","size":78824,"width":1024,"height":576,"custom_properties":null,"created_at":"2023-06-19T06:58:40.000000Z","updated_at":"2023-06-19T06:58:40.000000Z"}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? The Pros & Cons","status":"published","modified_content":null},{"chapter_id":2,"order":4,"slug":"coin-vs-token","title":"Coin VS Token: How Do They Differ?","status":"published","modified_content":null},{"chapter_id":2,"order":5,"slug":"what-are-stablecoins","title":"What are Stablecoins, Altcoins & Wrapped Coins?","status":"published","modified_content":null},{"chapter_id":2,"order":6,"slug":"what-is-a-bitcoin","title":"Bitcoin: the Pioneer of the Crypto World","status":"published","modified_content":null},{"chapter_id":2,"order":7,"slug":"what-is-ethereum","title":"The Ultimate Blockchain for dApp Creation: Ethereum","status":"published","modified_content":null},{"chapter_id":2,"order":8,"slug":"what-is-cardano-in-crypto","title":"What is Cardano and What is It Used For?","status":"published","modified_content":null},{"chapter_id":2,"order":9,"slug":"what-is-shiba-inu-coin","title":"Shiba Inu: the Dogecoin Killer","status":"published","modified_content":null},{"chapter_id":2,"order":10,"slug":"what-is-solana-in-crypto","title":"Is Solana an Improved Version of Ethereum?","status":"published","modified_content":null},{"chapter_id":2,"order":11,"slug":"what-is-polkadot-in-crypto","title":"The Bridge Between Blockchains: Polkadot","status":"published","modified_content":null},{"chapter_id":2,"order":12,"slug":"what-is-polygon-in-crypto","title":"Polygon: the Essential Scaling Solution for Ethereum","status":"published","modified_content":null},{"chapter_id":2,"order":13,"slug":"what-is-luna-crypto","title":"The Bumpy Road of Terra (LUNA)","status":"published","modified_content":null},{"chapter_id":2,"order":14,"slug":"what-is-fantom-crypto","title":"Is Fantom (FTM) Yet Another Ethereum Killer?","status":"published","modified_content":null},{"chapter_id":2,"order":15,"slug":"what-is-aave-crypto","title":"Aave: Crypto Lending Trailblazer","status":"published","modified_content":null},{"chapter_id":2,"order":16,"slug":"what-is-algorand-crypto","title":"Did Algorand Truly Solve the Blockchain Trilemma?","status":"published","modified_content":null},{"chapter_id":2,"order":17,"slug":"what-is-olympus-dao","title":"Does Olympus DAO Have Anything to Do With Mythology?","status":"published","modified_content":null},{"chapter_id":2,"order":18,"slug":"what-is-avax","title":"Is Avalanche Network (AVAX) Rightfully Called the Future of DeFi?","status":"published","modified_content":null},{"chapter_id":2,"order":19,"slug":"what-is-monero-coin","title":"Monero: Where Cryptocurrency Meets Cryptography","status":"published","modified_content":null},{"chapter_id":2,"order":20,"slug":"what-is-ripple-xrp","title":"Is Ripple \"it\" When it Comes to Cross-Border Transactions?","status":"published","modified_content":null},{"chapter_id":2,"order":21,"slug":"practical-use-of-cryptocurrencies","title":"The Practical Use of 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