In the name of God, the most gracious, the most merciful
🔴 Today, God willing, we will explain the first lesson and the first method for how to analyze any currency in the correct ways.
🔘 The method will be mentioned in the form of points, in order to facilitate the explanation process for you, and to try to convey the idea in the simplest ways.
The points of the analysis methods are as follows:
🔹 First: The currency frame/chart (i.e. the currency candle screen) is converted to the monthly frame, as well as the weekly frame in order to conduct the analyses, where each frame is conducted separately. That is, the frame is first converted to the monthly frame in order to conduct the analyses for the monthly frame and identify the strengths and weaknesses. Then the frame is converted again to the weekly frame in order to also conduct the analyses for the weekly frame.
The reason: is that the analysis on these two frames (monthly and weekly) is considered the strongest analysis in which the strong and weak points are identified.
🔸 Second: A downward trend is drawn on the monthly frame to connect the two previous highest peaks of the currency, and this trend continues beyond the last peak, in order to know when this trend will be broken, because if the downward trend is broken, this is a clear sign that the currency will rise.
🔹 Third: The Fibonacci tool is used on the weekly frame (or even the monthly or annual - but the weekly frame is preferred in order to catch up with the currency before it rises strongly, and before breaking its previous peak), as the Fibonacci tool is drawn from the highest last peak of the currency to the lowest last base of the currency, so that the Fibonacci extensions appear above the previous peak, and to know the points of rise that will be reached.
🔸 Fourth: The volume candles (quantities) that come under the candles for the currency price are observed. If this candle is green and very large and is above a number of the candles preceding it, then this is also considered a strong signal, and this indicates that there are large quantities of buying for the currency.
🔹 Fifth: The current bullish peak (candle) is observed on the monthly frame, with the peak (candle) previous to the turban. If the current peak rises even by a small part of the previous peak, this is another strong signal indicating the continuation of the currency’s rise, but with the presence of some conditions such as the amount of purchases in the days preceding the turban being large, in addition to breaking the downtrend.
🔸 Sixth: The current monthly bottom of the currency must be higher than the previous monthly bottom of the currency, indicating that the currency has stopped the decline that continued for a number of previous months or years, and is now at the beginning of the rise.
🚨 Note that these points must be linked, and the more these points and indicators are combined in one currency, the stronger the confirmation of the currency’s rise.
♻️ The method of linking will be explained with illustrated examples from the currency frame so that the idea is conveyed more clearly, God willing.
💠 There are many, many methods and tools, but we would like to give you an initial picture of the analysis. If you understand these methods, the rest of the methods are very easy, in terms of candle shapes and other things.
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♻️ Cryptocurrency analysis channel on the ⓣL-Gram with the same Binance ID
🔴 Majed _ Ismael
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