Hello and welcome to a small series I thought I would start to help people understand market charts. Enjoy and leave me a comment about what you liked or didn't like. Thank you for your support!
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Take a look at this chart. It is a 1 hour Coinbase chart of Ethereum (ETH/USD).
One of the best ways to understand if the market is going to rally or go south is to pay attention to the MOVING AVERAGES, or MA lines. As you can see, the white line on this chart is the 50 day, the dark purple one is the 200 day and the pink one is the 150 day moving average, respectfully. When you see the 50 day moving up like in this chart, and the 200 day on top of the 150 day, it is a bullish signal.
The opposite is true for bearish markets. It is called a DEATH CROSS. It is when the 50 day is on the bottom of the 150 and 200 and the 200 day is on top of the 150 day moving average. When the 200 day crosses DOWN through the 150 day, it is called a DEATH CROSS and is a very, very bearish signal.
If you have any questions about this short and concise tutorial, please leave your question or comment below. I hope you learned something from this short tutorial. My name is Jay - have the best day!
:)
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Take a look at this chart. It is a 1 hour Coinbase chart of Ethereum (ETH/USD).
One of the best ways to understand if the market is going to rally or go south is to pay attention to the MOVING AVERAGES, or MA lines. As you can see, the white line on this chart is the 50 day, the dark purple one is the 200 day and the pink one is the 150 day moving average, respectfully. When you see the 50 day moving up like in this chart, and the 200 day on top of the 150 day, it is a bullish signal.
The opposite is true for bearish markets. It is called a DEATH CROSS. It is when the 50 day is on the bottom of the 150 and 200 and the 200 day is on top of the 150 day moving average. When the 200 day crosses DOWN through the 150 day, it is called a DEATH CROSS and is a very, very bearish signal.
If you have any questions about this short and concise tutorial, please leave your question or comment below. I hope you learned something from this short tutorial. My name is Jay - have the best day!
:)