This is going to be a series of tips, hacks and technical signs to watch out for to make more informed crypto trading or investment decisions.

This is the very first, the subsequent ones will be coming in as the spirit leads.

let's get started..

So, with my interaction with people that "trade crypto", I have seen that a number of us firstly are not traders, we are best described as [/s]bag holders[s] investors. (including me)

Why?

Because most of us don't check charts, we get in to trade after the coin has already done say, 500% or because it is being hyped on twitter, we buy at all time high, then when the reality sets in, and price begins to drop, human nature and lack of technical skills will not make us sell and take the loss.

You'd agree with me that this is a problem. It turns out solving it is not as hard.

I am going to introduce you to renko bars. It is a type of candlestick the Japanese use to trade.

To drive home the point I am going to make here, I will use the chart below (from trading view dot com ).

I believe it is obvious what is happening here. The renko bars (or boxes) are much more continuous and easy to read compared to candlesticks.
Personally when I use it, I use it on daily timeframe. I wait for one green renko bar to form and before buying in to the coin. As soon as the a red one forms, I sell. I rinse and repeat.

Now, as you can see there are points where candles will form and fail. Yea shit happens. You won't win 100% of the time. But when you win, you would know exactly when to carry your profit and go home .

PS: The above is not a financial advice, kindly do you own research.
Trading support series is sponsored by chartless dot co. At chartless, we help you automate trades both on your Binanc spot account and futures account.