Bitcoin Forum

I met a guy on a crypto channel on telegram, he is so good at making predictions just by reading charts, my question is I want to know how to read charts perfectly, where can I start? What are the real things to look out for? Please share knowledge

I also do not know,  for one to excel in crypto trading, I think chat reading is very key, with it you could be able to tell the direction of a coin if it is going bearish or bullish, It's the candle sticks that tells the next move of a coin, that is called technical analysis (TA) but though sometimes the fundamental analysis takes over,(FA)  that happens when there is a news, and also I think in general, knowledge is needed to excel in trading crypto else you just gamble your money or rather you invest for long term

Candle sticks aren't that easy to read, I don't know how but you won't find a teacher to put you through, you have to carry out the practical yourself, you might make some wrong decisions along the way but it's the only way, trust me

I don't have a definite theory about crypto charts, because this is about probabilities that might occur the next time. so I will pay attention to the chart before the current price. for example, we give the price of X now, then we look at how the chart before X, whether it's 3 days, 1 week, 1 month or even the whole coin. then we see how, up and down, stable, or tend to rise slowly. well, if you already have a picture of it, then we see the graph that is closest before X, and see the usual trend. if after going down, then going up then if the graph before X is the same, then the probability of that happening is also the same. I am a poor boy when trading, so I only use the possibility scale method without knowing the exact calculation. but hopefully that helps a little or at least becomes your reference.

Why don't you ask the man right away on the telegram line, because I'm sure the answer would be very precise if he was very good at reading graphs, because reading charts is not easy and requires sufficient knowledge and experience.

You're talking about Technical Analysis referred to as TA.
Man it's not an easy job, just for the record, you need to be patient enough & willing to learn how to learn the Technical Analysis.

You can start with this telegram channel https://t.me/cryptocredTA, check it's old YouTube videos to learn the basics of the TA:


Good luck

There's no difficulty in reading chart. Most of them are just the price plots along time. For specific types of chart, look for their meaning on internet.
For example if you want to know about understanding candlestick chart, this is a good guide to start with https://www.investopedia.com/trading/candlestick-charting-what-is-it/
With reading, you can learn to analyse chart. Tough analysis are not always true, they are better than placing your order blindly.

You can learn it from anywhere. The learning media at this time is very much, especially on YouTube and many telegram groups that share technical analysis.
But the most important thing is that you have to know the basics of trading first in order to understand the explanation given in several tutorials on chart reading or Technical Analysis.
In addition to Technical analysis you also have to learn fundamental science which is very important also for trading in making predictions.
I am also still learning

Reading charts is not as easy as you expect, you need to spend a lot of time doing research and analysis. Ideally, you should create an account at tradingview and follow the channels on youtube about cryptocurrency charts, which may take you months to become proficient.

I think youre in the wrong section. Usually what is discuss here is the altcoin or any tokens or coins and their significant topic. Your asking is about trading which I think belongs to the trading discussion. Also, before asking this, might as well to use Google search engine cause every quetions youve asked can also be answer accurately on that. If not suffice, then use Youtube for visuals and easy understanding. As a newbie learn to search first before asking any question that can be done by simple clicking.

Knowledge is to understand market or trading. If you don't know what trade is about, you will hardly know what chart is . Reading chart is looking keenly at details, little and big things matter.
First, there are fundamental and technical indicators, they are basically what makes up the chart.

if use candlestick to read chart maybe steve nison book will be best reference for us. he explain the philosophy behind the red or green candle, easy to understand for newbie. but is not enough to read clearly there are many technique that must combined with candle stick. we could learn price action , SNR , supply demand concept. in my opiniin this is the combination to analize price clearly.

Ah, looking at the past to see the future.
https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Fpixnio.com%2Ffree-images%2Fvintage-photography%2Ffew-people-working-on-repairing-pond.jpg&f=1&nofb=1

it's the same as reading the future, are you sure the guess is always right, I think not, maybe the guess is just coincidence.
yes even though some movements can be read from the chart.
I'm not sure the prediction will be 100% correct.

There's a number of techniques that people commonly use to conduct technical analysis, and one of the simplest to understand and most popular techniques is utilizing support and resistance levels and flips of those levels. There's really no one good place to start learning about TA, but a lot of other guides intended for use towards forex or other types of trading also mostly apply to crypto-related trading.

There's also no way to 'perfectly' read the charts. Things very often go not according to plan, and a big part of trading is accounting for the chance that something unexpected might happen- risk management.

You should start from youtube tutorials, basics that you need to cover are support and resistance levels, breakouts, reversal patterns, trend lines, demand and supply zones etc. In advance charting you can also use many tools, indicators and formulas to predict market movements but i would suggest you to first understand basics.

Aside from youtube tutorials, the OP can always consult the google search. in our time, if you are in doubt, google is your best friend and you will have a lot of articles to read. you need effort to study the basics and not be lazy about it.

just a couple of sites that will give you idea about trading charts. you can always look for more in depth analysis. there are so many resources now via net. learn how to search them and really give time to study if you want to know about trading charts.

https://www.avatrade.com/education/trading-for-beginners/how-to-read-a-trading-chart

https://www.daytrading.com/charts

You can start by trading on your own and be experience-wise. But the easiest is why not just ask that guy about his predictions and what are the methods he's using for predicting the market and how he reads the charts.
If you also read some of the posts on the speculations, there are technical analysis there where you can absorb and study how they've made it. Learn the basic fundamentals of trading first and its terms.

Analysis are not always genuine and it's same thing with trying to read charts, not that easy as many thinks, yesterday I thought Bitcoin will recover, an analyst told me the bottom will be 9000$ and I buy hoping price will go 9500$ again but he was wrong

Start learning how to trade on your own, these predictors you are talking about starts from somewhere too, you can do the same and get better at trading, relying on yourself is different to relying on someone

There are so many tutorials that you can find on YT or other platforms.
yes, of course, their methods are different, or how to read pictures is not the same.
sometimes the predictions are not always true, you can predict, but the results will be different.
if there are people who can really read the chart, then trading will become a public work of people.

These articles will be giving you complete explanation about how to read the crypto chart properly. Im also using this to learn the crypto candle and for me this is perfect article for you
https://blockgeeks.com/guides/learn-how-to-read-crypto-charts/
https://blockgeeks.com/guides/read-crypto-charts-part-2/