Everything seems complicated and cumbersome when you are new to cryptocurrencies. This is especially true for the price charts. Yet interpreting and using them correctly is critical when you are an investor. They enable you to track and predict trends in entire markets.
Reading the barter exchange rates – like on a DASH to BTC chart – is straightforward enough and often shows the live or fixed rates for reference when you are about to convert dash to btc.
Let’s take a look at how to exchange these currencies with no sign-ups, fixed rates, anonymity, and instantly, among other features.
GODEX
Godex.io is a relatively new exchange that has garnered followers for its outside-the-box solutions to the cryptocurrency exchange. Among its unique features are:
- No limits: you can transact any amount for as short a period of time as you want. Godex does not impose maximum limits on your exchanges.
- Fixed Rate: rather than being subject to market fluctuations, Godex allows you to trade with fixed rates: It protects you from the high volatility involved with crypto assets.
- Background info: don’t just part with your fortune. Godex gives you all the background information you may need concerning each currency. For instance, the history of changes between DASH-to-BTC, percentage changes for 1h, 2h, 24h, and a week.
- Anonymity: no need to let anyone know who you are!
- No need to sign up: You don’t have to go through a bunch of steps that ask for your personal details as though you were a suspect. With Godex, you only have to enter the amount and wallet addresses.
- Price Charts: analyze the history of any crypto asset you are buying or selling (dash and btc in this case) before taking the risk. For example, you get to compare the candlestick charts for BTC and DASH side by side.
Do you know how to use the candlestick chart? You could be missing out on a lot of opportunities.
What is a Crypto Candlestick Chart?
Originally from Japan, candlestick charts are uniquely identifiable by the red and green candle-like bars plotted. They provide a bunch of information that you may then use alongside other trading strategies and theories to make decisions.
How to Read a Candlestick Chart?
Much like bar charts, candlesticks capture the highs and lows of each period, but they are more visualized and detailed. The bars on a candlestick chart are comprised of two parts – the body and the shadow (resembling wicks).
The green and red candlesticks represent bullish and bearish markets, respectively. The bullish (green) candlestick shows that the value increased during the indicated period. Its body’s bottom is usually the opening value while the top shows the price at closing time.
On the contrary, the red bar shows that the price went down, and its body’s top represents the opening value, while the bottom shows the closing value.
As for the candlestick wicks, they represent the peaks and lows in prices seen during this period of time. The top wick corresponds to the highest value attained.
Example Using DASH Candlestick
If you look at the dash candlestick (available on the above link for the Dash to BTC chart), you will see that the market was bullish between 09 Nov 20 and 30 Nov 20, after which it seems to follow a bearish pattern.
You will also notice that the pattern between 26th and 27th represents a bearish market even though the above statements say it was part of the bullish conditions. When analyzing a chart over such a long period, we tend to look at the general pattern before we get into the fine details. However, If you were a daily trader, this part of the chart could suffice as a bearish market condition.
Conclusion
The best cryptocurrency exchange does not simply facilitate trade but goes a step further to offer much-needed unique features, protect your assets, provide educative information, and support hundreds of assets.
