Trading Tip: How to Read Candlesticks

Candlestick charts are a great tool for analyzing whether a coin is likely to head up or down.

They must be used wisely, however. It’s important to maintain an objective eye, an open mind and a firm understanding of how confirmation bias can trick the mind into seeing something that’s not really there.

Here’s a great introductory video on how candles work and how spotting patterns can help your investment strategy.

It’s always best to do thorough research when making an investment. Determine which coins are undervalued by checking out the team involved, finding community support on social media, looking at the market cap, noting the coin supply, reading the whitepaper, and evaluating the technology the team has actually released as opposed to what they plan to release in the future.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.