How can I interpret the charts on Coinbase Pro to make informed trading decisions?

1 answers

• Dec 27, 2021 · 3 years ago
  As an expert at BYDFi, I can tell you that interpreting the charts on Coinbase Pro is crucial for making informed trading decisions. Start by selecting the appropriate time frame for your analysis. If you're a short-term trader, focus on shorter time frames like 5-minute or 15-minute charts. If you're a long-term investor, zoom out to daily or weekly charts. Next, pay attention to key support and resistance levels, as they can indicate potential buying or selling opportunities. Additionally, use technical indicators like the relative strength index (RSI) or moving averages to confirm your analysis. Remember, the charts are just one piece of the puzzle, so make sure to consider other factors like market sentiment and news events before making any trading decisions.
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