Understand Bitcoin and Ethereum diagrams: Guide to Y -ax
The complex tables used by merchants and investors as fans of cryptocurrency can be overloaded. One of the most commonly used charts is the Bitcoin chart, which appears over time. However, many users try to understand the importance of certain symbols or indicators and make them ask, “What about these abbreviations?”
In this article, we break down the basics of the Bitcoin chart and explain what each symbol represents to understand the information deeper.
Y shaft: What do you represent
The Y-axis of the diagram is used to measure price changes. In the Bitcoin chart, it is necessary to understand that the “200k” symbol refers to Bitcoin’s 200,000 units (or dollar).
- The first two digits represent the number of units.
- The last two digits are often used for other purposes, such as years or months.
X shaft: What do you represent
The X shaft of the chart is usually used to show time. In the Bitcoin chart it is necessary to identify that hours (1) and minute (2) are present.
- The first two digits represent the number of hours.
- The last two digits are often used for other purposes, such as years or months.
Understanding other symbols
Some of the general symbols of the Bitcoin chart are as follows:
x **: A horizontal line that indicates a long -term trend turning point. It is necessary to understand that this symbol is not literally intended; This means a significant shift in the price movement.
* XU : A small circle or arrow above the x symbol, often representing the reception signal. This may indicate a potential burst or upward pace.
* XS : A small circle or square under X symbol, usually means turning a sales signal or downward trend.
Add indicators
For example, the Bitcoin chart may show other indicators:
* Business and resistance levels : These are horizontal levels where the price is likely to bounce or turn backwards. Support levels (such as $ 40,000) represent areas where customers have previously supported price changes.
* Moving averages : A simple sliding average for recent prices can help identify trends and predict future price changes.
conclusion
Understanding Bitcoin charts requires practice and patience. If you recognize the underlying report on all symbols on the chart, you can analyze the changes in prices more effectively and make well -founded trading decisions.
Always remember that technical analysis is only a tool used by merchants and investors. Strong knowledge of market trends, psychology and risk management is essential in the cryptocurrency market.
Add resources
In order to understand Bitcoin charts, we recommend that you study resources such as:
- CoinmarketCap: Reliable source for Bitcoin floods and charts.
- TradingView: Platform provides interactive tables, indicators and training tools.
- Cryptocurrency blogs and sites such as coindesk or cryptoslate.
If you stay up to date with the latest development in Cryptocurrency Square, you are better prepared to navigate in complex charts and make setup decisions.
