Once traders understand market trends, indicators, and signals, there will be money-making opportunities.
However, one needs a charting system to make the most of every opportunity, and finding the right provider can be a bit more challenging.
The Essence of Charting In Crypto Trading
Analyzing financial markets- cryptocurrencies or otherwise – requires a fair bit of knowledge to get started.
Also known as technical analysis, or TA, traders will use many tools at their disposal to identify where the market may head next.
As cryptocurrencies are more volatile than traditional markets – and accessible 24/7/365 – there is a bit more work involved in understanding what goes on precisely.
For cryptocurrency readers, it is essential to understand market psychology and the “phases” any market will go through.
Cryptocurrencies are somewhat unique in this regard, as the market may under- or overvalue certain crypto assets at any given moment for seemingly no reason.
However, once one performs a deeper technical analysis, the overarching sentiment and trend may become more apparent.
One essential tool to analyze markets and perform technical analysis is charting. A price chart will show not only the current but also past market momentum and performance.
The historical data can be used to identify indicators and patterns or market trends. Learning to read the price chart requires homework, as there is always jargon to explore and master.
Words such as bull market, short position, support level, and resistance level are essential charting knowledge.
Different Types Of Charting Layouts
When exploring a price chart for any financial market, it is often best to display information.
Many traders swear by candlestick charts as they convey information colorfully and conveniently. A candle is green or red, indicating whether the price increases or decreases for that period.
Candlestick charting includes narrow vertical lines, known as “shadows,” representing the high and low value for the asset during that period.
Beyond the candlestick chart, traders can also experiment with line charts, Renko charts, and point and figure charts, among others. Every option has its benefits or drawbacks.
Do some research to figure out what you feel most comfortable with and go from there.
Every chart type can provide valuable market insights and help traders understand which position to take. However, one cannot accurately predict market volatility, and caution remains advised.
Finding a charting provider is only the first step for crypto traders. The platform also needs to provide access to popular and slightly more niche trading indicators and drawing tools.
When reading charts, there are many options to explore, and saving them is a crucial benefit for all traders.
Moreover, supporting multiple trading platforms and allowing for portfolio and order management can create a frictionless trading experience.
Multiple Charting Systems
Whether one is an experienced or novice cryptocurrency trader, charting will always remain essential.
Atani can be a valuable service provider, as the platform offers tremendous functionality.
Its multiple charting system – supporting multiple layouts – lets users analyze the market, place orders, set stop losses, and monitor trades hassle-free.
It is an all-in-one solution for those who want to take cryptocurrency trading to the next level.
The charting solution, combined with over 80 indicators, will help traders identify market patterns and trends.
Moreover, Atani also serves as an exchange aggregator to support portfolio tracking, asset discovery, and trading activities. Its crypto trading tools can be accessed free of charge, as is its tax reporting system.
Cryptocurrency trading is a taxable event in most countries, and users will need to complete the correct filings with the proper authorities every year.
Providing a free and accessible solution to as many people as possible will spark broader interest in trading crypto assets across the supported platforms.
Service providers must remove some of the hassle associated with cryptocurrency trading. A one-stop solution for the technical tools and with support for trading across multiple platforms is crucial.
Additionally, the integration of free tools and tax reporting system will help traders when they have to handle the administrative side of the equation.
Atani checks a lot of the right boxes for novice and experienced traders alike.