Understanding basics terminologies in crypto

Hello everyone in the steem kids and parents community. It is a great pleasure for me to share my participation in the writing expenditure for this week. Today we are looking at the topic of cryptocurrency. I will be discussing some basic terminologies in the crypto space.

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This definition will be based solely on my little understanding of the various term. So you may have your opinion different from mine but I guess we will be targeting the same point if you take your time to understand it better. So let's look at a few of the terms below.

• Take Profit
• Stop Loss
• Bearish
• Bullish

Take Profit: The word take profit is always used in trading cryptocurrency especially when a trade is placed. This is a point that the trader sets for the trade to execute once the price hits the target.

When setting a trade, you will have a point where you will want the trade to hit and then stop the trade. This point where the trade will hit to give you profit and exit the trade is called the take profit level.

Stop Loss: Stop loss level is the direct opposite of the take profit level. At this point, once the trade drops instead of going upward, there is a limit we will want the trade to go, and that point we have set as the limit which the trade should go is called the stop loss level.

Bearish: Bearish in the crypto space refers to the downward movement of the price of the token. This movement indicates that the price of the asset at that point is dropping hence the name bearish. Using the crypto chart, you will notice the chart going in a downward direction and by default candle stick settings, you will see all colors red indication of blood in the market.

Bullish: Bullish is also the direct opposite of the bearish trend. This type of movement refers to the upward movement of the price of the asset. In the candle chart, you will see the chart going upward and having a default color of green meaning the market is in a favorable condition and buyers are in the market.

Summary

The four (4) terminologies discussed above are needed by all traders in other to become successful in their trading. We all need to know these terms and when and how to apply them. It is always good for crypto lovers to use crypto-related terminologies anytime they want to communicate with each other and in this way it will look more professional. We all know that every profession has its terminology and the crypto space is not an exception.