As part of my ongoing Crypto-101, cryptocurrency for newbies series, I thought I'd mention a free tool that can help expand your knowledge, understanding and expertise with respect to technical analysis.
My usual focus within crypto is on the fundamental analysis, (ie., use-case, team, indicators of wider adoption, and value before price), but technical analysis, (ie., moving average, MACD, and relative strength index) can reveal meaningful data to the keen eye, and I believe time spent with this tool can help develop that "keen eye" in you, and me.
My advice today is:
Sign up today, for free, at Tradingview.com, and begin strengthening your analytic mind, equip yourself with more tools and better data with which to make wise investment decisions.
Knowledge is a treasure, but practice with tools like this is the key to unlocking the power of that treasure.
Tradingview.com is a site where you can have free access to market charts and powerful data analysis tools. You can use sophisticated analytic data indicators to better understand and analyse your favourite cryptocurrencies, as well as post your opinions and follow others who do so too.
You simply sign up for free by verifying your email and then start exploring cryptocurrency or stock market charts at your convenience.
As an example, if you look up IOTA, you will be given its trading partners (BTC, ETH, USD and BNB) and you will be able to access the chart data from your favourite exchange that sells that crypto (Binance, Bitfinex or Cryptopia).
Once you open your favourite stock or crypto, you can open up analytic posts left by the community, read and learn from others, as well as comment and contribute your own analysis. You can follow certain favourites, both cryptocurrencies you want to track, as well as technical analysts you find helpful.
Tradingview can send notifiers to your preferred email, advising of pre-defined trade indicators, or new posts from favourite authors.
Here you can see the newest posts on IOTA, and specifically one analyst’s recent post, his/her name, how many views, likes and comments the post has, as well as a link for me to follow him/her.
Easy & Helpful:
The Tradingview.com tools are very easy to use, and there is no harm in learning as you go. This site has pop-ups that guide newbies, like me, and since it’s free the stakes are very low. You can just come in, poke around and learn a bit more about technical analysis.
They do have paid content, but the free option appears more than adequate to help you learn and grow as a crypto trader.
Technical analysis is a complicated game, and a little knowledge can be a dangerous thing, so anyone using these tools needs to be cautious. Be cautious of the "expert" opinions you find on trading view, do not take one post as fact, but rather as a piece of data to compliment your knowledge base.
If you use this tool as a training ground, and as one trick up your sleeve, I am certain it will help expand your effectiveness and wisdom within the crypto-space, but never rely on any single source for your opinions and investment strategies.
If you trade cryptocurrency, I believe you need to make time to properly educate yourself about technical analysis as well as fundamental analysis.
I personally signed up at Tradingview.com because I am eager to learn technical analysis for myself, so I can be less reliant on the opinions of others. Also, I am a firm believer that if you are not moving forward you are moving backwards, and this cliché definitely applies to knowledge and experience in crypto trading.
Tradingview may be one tool you have in your arsenal to supplement your understanding of technical performance and analytic indicators. I think tools like this can serve as a powerful supplement to your knowledge base, but knowledge needs to be applied in order to have value, and the application of knowledge requires training and experience, so sign up for free at www.tradingview.com, and learn by experience.
Absorb as much as you can by tinkering with charts, and practice by exploring these analytic resources so that you can be better equipped in your cryptocurrency journey. Knowledge is power, but only if you can apply it, without out the practice and expertise to utilize knowledge, it has no value.
If you enjoy the content, please up-vote, comment and follow. Thank you all for your attention and time, I hope you have an amazing day.
