Hello Steemians!

Thank you Steemit Blog for a great program to educate all Steemians about Cryptocurrency through the Steemit Crypto Academy. I would like to congratulate all the Crypto professors and appreciate their hard work for all of us.

I am writing this post to respond to the homework given by @stream4u. I must say, @stream4u had done a great job at explaining the technical concept and its importance in trading.

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What is the role of a Technical chart?

Technical Analysis is very easy in comparison with Fundamental Analysis & can be done with a few resources and less time-consuming. In technical analysis, we read the chat, try to learn the next movement & place our orders.

• Technical Charts are the graphical representation of the historical data of particular assets which can be read through a chat only.
• It helps us to predict the next movement of that asset.
• From the technical chart, we can find the ups & downs of that particular asset.
• There are various types of chars available on the market. The most used chat is Japanese Candlestick Charting.

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Why do you think Technical knowledge is important.

• Technical knowledge is always important in every field. Same, to succeed in Crypto Trading, one must know the technical part and understand it.
• Technical analysis, emphasis on historical data of each asset and their movement which help to predict the future movement for our trades.
• We all know that Crypto Currencies prices go up and down every day. But it is only by using charts that you can keep those fluctuations in focus and understand whether it's time to buy, sell or hold.

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Uptrend or downtrend, which one is good for buy a coin, explain why?

• I feel uptrend is a good time to buy a coin.
• If we know the technical part, we came to know if any specific point has been crossed, and now it's in an uptrend and we have to enter into the trade at right to take advantage of the full uptrend.
• If we enter into the middle of an uptrend, we may get confused and end up with a loss.
• It is very important to closely monitor the chat/performance of any coin before entering into any trade and once we feel it is at the point when its uptrend seems to be starting, we can take a trade.

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Check any Crypto Coin technical chart and explain what you find/understood from the Chart with screenshots.

_{TRXUSD Chart from TradingView}

• The above chart is of TRXUSD from Trading View.
• According to the chart, we can see the history of TRX, it is trying to pump at around $0.02 for the last few days.
• Later we can see from the same level, it picked uptrends and spiked.

With this technical knowledge, we can understand that it was a good level to buy as it was consistently touching the same level and trying to go up.

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I feel it is a great opportunity for all of us to learn more about CryptoCurrency Trading and to step into the future of trading. Once again thank you to @stream4u as you have made a course on the most needed topic and covered all the points.

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Thank you!
@ghostfacer99

#technicalcrypto #cryptoacademy #india #nepal #steem #steemit #steemexclusive

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