📚Coinstore Classroom: Crypto Trading 101 — Part 5😋
Hello again Coin Collectors,
Carrying on from the previous part of Coinstore Classroom📒, on basic terms or phrases, we would like to share with you. We hope that through this corner, we are able to share with you some knowledge and tips 💡 on cryptocurrency! As such, we hope to be able to share and educate you on the basics and necessary information of cryptocurrency, so that you are able to make a more informed decision when trading crypto.
For this session of Coinstore Classroom, we will be sharing with you terms that describe market trends.
Here are the 3 terms or phrases we would like to share with you:
Consolidation is a technical analysis term used to describe a stock’s price movement within a given support and resistance range for a period of time.
Generally caused due to trader indecisiveness.
Consolidated financial statements are usually used by analysts to evaluate parent and subsidiary companies as a single company.
2. Blow-Off Top:
A blow-off top is a chart pattern showing a sudden rise in price and volume, followed by a sharp decline in price also with high volume.
The rally into the blow-off could be based on news, or speculation of good news, growth, or higher prices in the future.
A correction is a decline of 10% or greater in the price of a security, asset, or a financial market.
Corrections can last anywhere from days to months, or even longer.
While damaging in the short term, a correction can be healthy, adjusting overvalued asset prices and providing buying opportunities.
Here are another 3 basic terms for futures or trading in general, we thought you should know before making trades in the cryptocurrency market! Stay tuned for part 6, to find learn more terms and phrases regarding cryptocurrency trading! 😉
It’s never too late to start diving into the world of cryptocurrency. Whether you’re young or old, a pro or a newbie, Coinstore welcomes you to our arcade where we learn together… the fun way! We make cryptocurrencies available for everyone in a sleek, exciting and simple fashion, equipping you with experience and techniques to buy, sell and trade on the go.
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