RE: Steemit Crypto Academy Contest / S4W1 - Crypto Market Technical Analysis by @justiceanietie
For a trader to utilize various charting tools, he must have the knowledge on how to analyze the market through technical indicators.
Good point stated, when you faint have techno analysis you can’t trade with cryptocurrency unless you depend on market sentiment lbs to mark you positions which would take a very long time to have such opportunities.
the first thing i do is to check the trend of the market from the higher time zone.
Yeah, it’s always advisable to apply your strategy on higher timeframe to identify general market trend before opening position with smaller timeframes.
I like using the Bollinger band.
Well, Bollinger band is a volatile indicator that projects in the direction of price. The only issue is that it can’t be solely reliable and have to be combined with different indicators.
Please find time to visit my post as well. Good luck!!