Top Bitcoin Chart Apps

When it comes to investing in cryptocurrencies, there are many tools that you can use to help you stay on top of the market. From portfolio trackers to exchanges, there are a variety of crypto apps that can make your trading experience easier and more efficient.

One of the most important tools you can use is a depth chart. It’s a tool that helps you understand the supply and demand for Bitcoin at different prices.

Depth chart

Depth charts are a type of visualization that shows bid (buy) and ask (sell) data for a particular asset at various prices. This helps traders to understand the current relationship between supply and demand, which is critical in determining price.

Unlike bubble charts, which display buy and sell orders in dollar values, depth charts show the cumulative buy and sell order size across a range of prices. This makes it easier to understand how liquidity is influencing price action and how the market is likely to respond.

This type of chart can also help you identify significant levels of price. This is often indicated by a line and price at the left side of the panel or a vertical green or red line that stands out from the rest.

Candlestick chart

Candlestick charts are one of the most popular ways to chart price movements on an asset. They are especially useful for traders who want to understand the short and long-term sentiment of markets.

They can also be used to identify market trends. A trend is when the market is consistently going in a certain direction, whether it’s up or down.

A candlestick chart is a type of graph that shows the open, high, low, and close prices for a period of time. It can show the price of an asset for a minute, hour, day, week or month.

Each candlestick will have a different shape, which determines the relationship between the open and close prices. The body of the candlestick shows the open and close price for a given period, while the wicks mark the high and low prices during that period.

These charting tools allow you to view market sentiment quickly and effectively. They are also a great way to identify market trends, which can last seconds, minutes, hours or even days.

Fibonacci retracement levels

Fibonacci retracement levels are an important technical analysis tool that many traders use. They help reveal key levels to place buy and sell orders, and are highly effective when used in combination with other trading indicators.

The fibonacci retracement levels are based on a number sequence, which is derived from Leonardo Fibonacci’s famous ‘golden ratio’, known as the divine proportion. Using this ratio, Fibonacci traders map out levels 23.6%, 38.2%, 50%, 61.8% and 100% of a move.

Traders often use this charting technique to spot trend reversal areas and market pivots. These retracement levels are drawn as horizontal lines between the starting and ending points of a price move, and they appear over the price chart.

This strategy is especially useful for trading cryptocurrencies, as the price can be volatile. However, it is crucial to manage risk when using these levels, as you may not be able to predict where the price could reverse.

Moving averages

Moving averages (MAs) are price based, lagging indicators that smooth out the noise on the chart. They are useful in identifying support and resistance levels as well as trend reversals.

They can be used on any time frame, but they are most effective during strong trends. However, if the market is choppy or rangebound, MAs can be difficult to interpret and they may give multiple trading signals that you’ll want to ignore.

Traders use different types of MAs, including simple moving averages and exponential moving averages. Exponential moving averages react to price changes more quickly than simple ones due to their emphasis on recent data points. Regardless of which type you choose, the longer the average, the more important it is to identify long-term trends. Start with longer-term MAs and work your way up to shorter ones as you gain experience. They’re also useful for smoothing out brief spikes in volatility that can otherwise be disruptive to your investment strategy.