Hi
I have recently purchased £200 of bitcoin and want to understand how to read and analysis charts. What would be the most appropriate type of analysis for a newbie?
I am also looking to invest a further £50 in ethereum or should I stick to bitcoin ?
Thanks in advance for you advice
Let me first start by welcoming you into the club of future millionaire because the coin of your choice shows that you are ready to trade the part of success.
As regards your question, it depends on the type of trade you want with your investment. If you are long term investor, there is no need to be watching charts, just follow news, follow the hype and see as your coin grows over the time, maybe 2, 3 r 4 years.
If you intend trading on a short term basis, then the most effective strategy is for you to always watch out to buy low and sell high and the only way is through technical analysis and fundamental analysis, but to fully be able to read TA, you really need to take time to further study how to trade.