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Trading cryptocurrencies and turning your Bitcoins into money requires the ability to read crypto charts. For making good crypto trades you need to know Dow Theory and Japanese candlestick charts. Every historical price, volume, and time interval is available in cryptography. A chart is used to observe investment opportunities in a digital currency based on its past price movements. By reading cryptocurrency charts, investors can identify market trends and predict the future price movements of an asset. Cryptocurrency Chart Patterns Only a few chart patterns have stood the test of time. There is no “proven” chart pattern that works better than another, unlike less subjective analytical tools. Following are the chart patterns available. Price Channels  Create a series of highs and lows by creating two ascending or descending parallel lines. Prices tend to bounce between these levels of support (lower) and resistance (higher). While most traders buy lower and sell higher, breakouts and breakdowns can be influential. Ascending & Descending Triangle  One horizontal line connects highs or lows, and a second sloped line connects rising highs or falling lows. In a right triangle, the price tends to break out or break down from the horizontal line in the direction of the sloped line. Head & Shoulders  The Head and Shoulders chart pattern is characterized by a temporary high or low, followed by a big move higher or lower, followed by an equal move higher or lower. It looks like a head with two shoulders that are either upside down (bullish) or right-side-up (bearish). Triple & Double Top & Bottom  It is called a triple or double top and bottom chart pattern when the market bounces off the same resistance or support level two or three times in a row. Bullish signals are considered double bottoms, while bearish signals are considered double tops. Double and triple patterns both indicate that prices are about to reverse directions. Rising Wedge & Falling Wedge  The slopes of the upper and lower lines of rising and falling wedges are the same (although they still converge). Rising and falling wedges are reversal patterns unlike ascending and descending triangles. Rising wedges are bearish while falling wedges are bullish. Candlestick Chart In cryptocurrency candlestick charts, time is shown on the horizontal axis, while private data is shown on the vertical axis. It’s important to note that candlesticks show whether the price movement of a market was positive or negative, and to what degree. Candlesticks consist of a body and wicks. The body of each candlestick represents the opening and closing prices, while the top wick represents how high or low the price of a cryptocurrency was during that period. Candlesticks provide users with a great deal of information through their simple structure. Candlestick patterns, for example, can be used to identify potential trend reversals. The bullish and bearish candlestick patterns should be recognized by cryptocurrency traders. Technical Analysis Statistical analysis refers to the study of trends gathered over time to determine how supply and demand affect a particular asset’s future price. Crypto market charts can help investors make informed decisions by letting them know when bullish and bearish movements will end. Bulls, the buyers of an asset, push the price up through bullish movements. It is the downward price movement caused by sellers or the bears. By analyzing price trends and patterns on charts, traders can find trading opportunities. Although crypto charts help monitor market movements, there are some caveats. To better understand technical analysis, one must be aware of the Dow Theory. Here are some key ideas: At the time of pricing, the market considers everything. Existing, prior, and upcoming details have already been accounted for in current asset prices. The crypto market is impacted by a number of variables, including current, past, and future demands and any regulations that may impact the market. Prices do not move at random. Most people follow trends, whether they are long-term or short-term. Analysts focus on the price of a coin rather than every single variable that influences its value.   Dow Theory rests on six fundamental tenets: Markets move in three directions A market’s primary movement is called its primary movement. Market trends can last anywhere from a year to several years. They can be bullish or bearish. Medium swings refer to the second or intermediate movement of a market. A medium time frame is between ten days and three months. A medium swing is based on the primary price change.  A short swing is a minor movement of the market. It is short-term speculation. Market trends have three phases During the accumulation phase, investors buy and sell the coin against the general perception of the market. In the public participation phase, also known as the absorption phase, the rest of the market follows knowledgeable investors. After the absorption … Continued

The post How to Read the Crypto Chart? appeared first on Cryptoknowmics-Crypto News and Media Platform.

Trust Wallet, a crypto wallet app rated at 4.7 stars and with a total of 166,379 reviews – take from that what you will – has reported on its official Twitter page and community webpage that the app became unavailable “on March 21, 2022 at 1pm PST”, which seems to match the time of the outage reported by more than 3,000 users on Downdetector. 

BTC Wires, a leading online digital platform that provides information about crypto and blockchain technology, examined possible reasons in the Trust Wallet case, and came up with steps that crypto users can take. 

What Was the Reason?

It is still uncertain if the above mentioned events are related, though the company behind Trust Wallet seems committed to assuring its users that the problem will be solved in “a timely manner”, and transactions have been confirmed to be working just fine. 

Another possible explanation for the sudden disappearance of the app from the store might be related to App Store guidelines regarding the use of third-party payment services, which seems to be the case, at least for Trust Wallet, with the words:

“The app does not sell any crypto, you will be redirected to a 3rd party provider” hanging over its official community post forewarning crypto adventures just as those of Dante in the famous Italian comedy. 

Apple has reportedly restricted the use of third-party payment integrations when there's no physical exchange of goods or services, making adjustments to their policies whenever legally obliged and/or pressured, as is the case in the Netherlands and in South Korea. However possible for this to be the case surrounding the issue with some wallets, nothing has been disclosed by Apple or by any other company that would confirm this theory. 

Are Other Wallets at Risk?

Nevertheless, many users of other wallets and wallet services embedded with exchange platforms have understandably become wary about the situation, which expands the proportion of need-to-know information one requires before trusting any amount of money to a service. 

With that in mind, here are a couple of options one can rely on to not have that issue:

• NOW Wallet: Since the company behind the wallet is likewise behind the exchange platform, they do not depend on a third party to execute the payments, thus they are compliant with App Store guidelines. The wallet supports nearly 400 cryptocurrencies, about 60 fiat currencies, and NFTs. Since it is non-custodial, the user has full control of the private keys and the funds. There are other benefits to this wallet as well, such as its simplicity and straightforward app design, making the learning curve accessible even to the most tech-averse person.
• Coinbase Wallet: Coinbase is a staple in the crypto market by now, and its Wallet product, in opposition to the regular Coinbase service, is a DEX, thus allowing crypto swapping just as other DEXs. It supports all ERC-20 tokens (including USDC and DAI), BTC, BCH, LTC, XRP, XLM, and DOGE. Since its inception, it has been known for its appeal among beginners and is well regarded by its users.
• eToro Money Crypto Wallet: Another great option for those who like stability. eToro, like Coinbase, has established itself in the crypto market as a reliable broker service and a wallet. It's trustworthy, supports over 500 crypto pairs, and is secure. On the other hand, it might be too much of a challenge for beginners.
• Gemini Wallet: If you are out there looking for something different, this might be what you're looking for. Gemini offers a hot wallet insurance in case of a security breach or hack, which is an added bonus when dealing with money on the internet. There is good and bad in this wallet. Some of the fees can be quite high, and you don't get as many options of currencies (about 70 crypto assets) and they're not as variable as you would get with other wallets. Despite this, it still has a reputation as a reliable wallet.
• Ledger Live Wallet: Now if you are in for something more niche, you might like Ledger Live. The wallet is powered by Ledger, the most reliable hardware wallet available, supports 1,800 coins & tokens, and uses advanced security features. The only downside is the lack of online customer support.

Those are not the only alternatives but are currently some of the most reliable ones out there. The perfect fit for you will largely depend on your crypto interests, and while the aforementioned wallets deal with a wide range of assets, you should always do your own research and see what better matches your needs.

Visit BTC Wires to find more news and other crypto-related information. 

Choosing the right crypto wallet can get overwhelming at times. And while most are free-to-use, they often charge different transaction fees. As a result,...

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