Published 2/19/23 – Part 1
*Proximity SEC does not give investment advice, but we believe you should understand markets…
Reading the Markets – Crypto & Stock
So, you want to be a savvy crypto or stock market investor, do you? Well, it all starts with understanding how to read charts. A chart is simply a graphical representation of the price of a particular asset, such as a cryptocurrency or stock , over time.
One of the most important things to understand about a chart is the time scale. Most charts will have a time scale along the bottom, which shows the time period being represented. This can range from minutes to days, weeks, or even years, depending on the chart.
Another important element of a chart is the price scale, which is usually represented along the side of the chart. This scale shows the price of the asset being tracked. It’s important to understand that the price scale can be represented in different ways, such as logarithmic or linear scales, so it’s important to pay attention to the specific scale being used.
When looking at a chart, you’ll also notice various lines and indicators, such as moving averages or Bollinger Bands. These can provide additional information about the trend and volatility of the asset being tracked.
Remember, charts can be intimidating at first, but with a little bit of practice, you’ll be able to decipher them like a pro. So, grab a cup of coffee and get ready to dive into the world of crypto and stock market charts!
Tune in tomorrow for part 2. Interpreting Crypto or Stock Market Charts
Thanks for Reading!
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