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How To BEST Predict Crypto Prices and Recognize Trends - YouTube
Channel: BitBoy Crypto
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crypto investment and trading are like a
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game in which winning or losing is
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determined based on market factors like
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demand and price
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these factors sometimes have to be
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determined quickly in a matter of
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minutes
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or even a few seconds i'm not
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exaggerating here guys things in the
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crypto world move
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fast if you didn't know how to recognize
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trends before everybody else does
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you'll be left behind today i'm gonna be
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teaching you
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how to make the big moves let's get it
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welcome to bitboy crypto the hardest
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working channel in all of cryptocurrency
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if you're new hit that subscribe button
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check the description for links
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you can use to connect with me in the
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bit squad
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all right guys i'm sure there is no need
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to emphasize any more about this
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one thing is knowing the rules another
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thing is knowing how to play the game
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the right way game theory i mean are you
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going to be one of those who don't risk
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and don't win
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one of those who throw their money into
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a gamble and rely on luck
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or will you be one of the smart ones and
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the professional traders who knows the
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ins and outs i reckon everybody would
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pick the third
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come on even an idiot should know what's
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best if you agree with me then you'll
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definitely need
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to understand how to recognize trends
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and predict crypto prices
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which makes you able to be prepared for
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the long run
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so let's dig into how forecasting crypto
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prices works
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so you can increase your earnings first
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of all let's start with the two most
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basic states of the crypto price
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bullish and bearish we have a bull
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market when the price is thriving or
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it's expected to keep rising
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for a while in the opposite direction a
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bear market indicates a time when the
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price is falling were expected to plunge
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sounds like a zoo huh please don't ever
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think
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simply that rising is always good or you
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will get wrecked
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these are the two basic principles if
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you predict the market will be bullish
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you're encouraged to hold on to your
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funds or even buy more coins
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than sell them when the price goes up
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contrary
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if you see bearish movements it's better
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to sell out before suffering
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from losses i just did that it's quite
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simple though right
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bowler bear that's what you need to keep
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in mind and determine case by case
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i can hear you guys asking now but bit
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boy how the heck are we supposed to know
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whether the market is bullish or bearish
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well it can be a hard one the answer
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will depend on the time
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and who you ask so don't expect anybody
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to tell you
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you got to figure it out for yourself
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also the time frames are important
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so i know probably not what you expected
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but thankfully we have a lot of data
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charts and tools provided by various
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exchanges and software
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all we have to do is chop them off and
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grasp the best ideas we can come up with
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so here i'm going to give you an
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introduction about several popular ways
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that are being widely used to analyze
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the market price
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they can be divided into three main
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categories technical analysis
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fundamental analysis and sentimental
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analysis
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technical analysis in particular
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involves all historical statistics
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including price movements trading volume
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and many other past indicators and
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metrics
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based on watching the price history
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records plus some extra calculation
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you may be able to notice similar
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patterns and catch hints
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of when it may go up and down again for
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example
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now that we just experienced a little
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bit of bearish action in the market
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what was the trend once the last bear
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market ended for bitcoin
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fundamental analysis approaches price
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direction from another perspective
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not from the crypto price itself from a
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macro viewpoint and other external
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factors
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these are things like the demand and use
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case for a project as well
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as other factors such as the world
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economy company revenue
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the weather forecast on an upcoming
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superstorm or
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a new marvel blockbuster i'm not even
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kidding
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if there is any big event coming in the
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future in a blockchain project that
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could potentially benefit from it
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you've got to keep your eyes open
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industries change
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so now we've looked at the historical
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trends in the current events
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that could affect the market the last
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key element
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sentimental analysis is the human factor
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including not only crypto traders but
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everyone no matter who they are
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from politicians celebrities reporters
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or even regular people
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who hang out in the walmart parking lot
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at least that's what they do here in
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georgia
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the more influential the more people are
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likely to affect
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crypto demand and price you guys may
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have heard the recent case
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in which several big name twitter
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accounts were hacked and tweeted out
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bitcoin phishing attempts to millions of
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users what a scam
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you know what i mean the butterfly
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effect can really drive a massive craze
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these effects can go both ways such as
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the prices mooning once a celebrity
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decides to tip their toes into crypto or
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maybe even paint their nails
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i'm sure though you are tired of theory
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so let's move on to the thing
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you will be facing every day when you
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make a decision reading charts
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i've heard many people complain about
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having no clue how to read and draw a
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conclusion from charts
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don't worry i'm here to show you the
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secret art
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it's not really even that difficult if
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you take a look at this candlestick
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illustration here
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price charts are an indispensable
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component and technical analysis
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they reflect the fluctuation in the
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price over a period of time which
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can be a 24 hour time period a week
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a month or even a lifespan here's a tip
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for reading charts though
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focus on the color of the thick column
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we like it thick
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green implies that the price gained
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value while red shows
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prices dropped you see it's easy like
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eating candies the two heads of the fit
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column represent
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the opening and closing price following
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the green and red rule
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up represents the closing price in green
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but the opening price in red
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with the opposite being also the case
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the next thing to notice
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is the thin line with the top showing
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the highest price
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and the bottom for the lowest price
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during that session congratulations
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you've now acquired all the data you
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need to read and understand a chart
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now you only need to practice and learn
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the rules so let's move on to a higher
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level to
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use the data to recognize the trend in
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market price
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we have another tool called trend lines
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this method focuses
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on outlining a linear route made from
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high or low points
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to draw an upward or downward trend
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while excluding abnormal or
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occasional fluctuations appearing during
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the whole period
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conversely there's another tool called a
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moving average
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in which you can track the movements by
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connecting the average of a range of
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market prices
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we often choose closing prices based on
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the moving average line
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you can catch up on the trend in the
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longer term together with
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typical points while trend lines are
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usually more suitable
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for short-term decisions these are the
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most basic things
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you should know about technical analysis
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and reading price charts
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which you might be dealing with a lot
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depending on how serious you want to
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take trading
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certainly it requires a lot more time
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and practice to master
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this technique let alone combining
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fundamental and sentimental analysis
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into your homework evaluating the
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business system or even a trader's
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emotions
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is much more sophisticated than these
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other advanced tools so for now what you
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need to do before thinking about those
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headaches
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is to try the best is to try your best
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to utilize the charts
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do you want my personal advice haste
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makes waste
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being the best at one thing is better
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than being mediocre at everything
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and i assure you guys that you will find
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crypto trading much more fun
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and enjoyable after doing that you guys
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make sure to keep your eyes
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on your portfolio and monitor events
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that could affect it
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good idea sir but now it's your turn
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what other tips do you have when it
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comes to detecting crypto trends
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what other techniques would you like to
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know about let me know what you think in
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the comment section below
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i hope you enjoyed this video if you did
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please make sure to smash the like
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button and hit subscribe to become a
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member of the bitsquat
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thank you so much for watching have a
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blessed day
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[Music]
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you
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