Many of the beginners in the field of currency always looking & waiting for the analysis of the cryptocurrency market by a group of experienced person in this field .
And this is mistake of the most newbies in this field because they follows that analyzed chart blindly which should be done by a newbie.
At one side a beginner in this field is at early stage of earning struggle and at another side he is drooping himself in any type of analysis, matter what are the success of analysis by a particular person or group of people.
So here today in this post we will explain how to do technical analysis.
And what are the chances of the cryptocurrency market to follow your analysis.
And also we will discuss all the points and factor which can affect your technical analysis & how to deal with those effecting factor by considering in advance .
What is technical analysis of cryptocurrency market?
Technical analysis in cryptocurrency market is just an idea to make prediction that how the market can go in future.
If our analysis working concept is good then we can make a good prediction about cryptocurrency market.
How to do analysis of crypto market?
Graph analysis
Graph analysis is most famous thing in crypto market analysis part.
If we want to predict the market for next week then we need to see the graph of the coin by last 10 weeks.
Now you need to see how the diagram of the coin market graph is fluctuating.
You can connect bottom price point with top price point.
And then top point with bottom point.
After the whole work, you can make idea that how the market can go in next week or month.
Here we will explain this idea of technical analysis with a example, so that you can understand more precisely.
Let’s take example of Digibyte coin graph of 6 Month.
Now see there is bottom point 1, bottom point 2 and top point 1.
We connected all these three points together.
No see with your imagination that the next incoming time will be for the increasing rate.
From the graph we can expect that the price of the coin will reach at least 0.00000250 btc(CHECK IN DOLLER) minimum in next 6 month .
News Hype Analysis
News about a particular coin bad or good will gives you indication for the pump and dump.
If any wrong news will run about a particular coun, then be careful that price will get down.
If anything good news will enter about a particular coin then market will pump.
If you heard some negative news about a particular coin then change your coin value with USDT . This is a type of strategy to stop loss with the dump of market.
If you heard good about a coin then buy at sudden and sell after 10-20% , because that hype will no more remain long time.
Fake News Hype
Sometimes fake news enters in cryptocurrency market and that results into market crash.
Because in that negative situation most of the newbies and beginners get into fear and became ready to sell their fund in crypto even at loss.
So take advantage of fear in the crypto market.
Analysis Vs News Hype
Here we explained that how to analyse market of cryptocurrency and how to deal with the fake news hype.
If fake news will run in the crypto market then no analysis & prediction will work for you.
So try to take advantage of all type of situation and if you are not able to take advantage then sell your assets for USDT coin , because USDT coin is more stable like a doller .
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