85% of new investors buy and sell their cryptos without a proper analysis, causing them to lose money. It is essential to understand the market, whether you are doing Spot Trading or Futures Trading. Mastering Technical Analysis is crucial. I am creating a series of content to discuss it in detail, and if you are interested, we can do live sessions here. Let me know in the comments.
To start, Technical Analysis allows us to predict the future price of an asset based on its history through charts. Here, we will talk more about Japanese Candlesticks, which provide us with enough information about the market.
Understanding what candles tell us about market psychology allows us to succeed in our analysis by 50%. There are candles that we need to consider more than others, and we will talk about this in this series.
Maru Candle
Pinbar Candle
Doji
MARU CANDLE
The maru candle shows strong pressure in the market, indicating the strength of buyers or sellers depending on its color. The appearance of this candle in the market simply tells us that there is a balance between buyers and sellers controlling the market; you have the characteristics of this candle in the image.
UP MARU CANDLE
This one, when it appears in the market, indicates that there is strong buying pressure. Imagine the appearance of three of this candle in a market; it simply tells us that the market is going up.
Down Maru Candle
This one shows selling pressure in the market, and if we see three of this candle appear, we expect a market drop. It's a pattern that signals a decline; we call it the three black soldiers.
Now that you know about Maru Candles and you understand that they indicate current buying or selling pressure, are you going to try to focus on these?
To start, you can go to the market to look for them, but if it's difficult, let me know in the comments and I will share a video for you.