What is Crypto Currency & How to Get Started investing today | Nick Pittaway | Skillshare

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What is Crypto Currency & How to Get Started investing today

teacher avatar Nick Pittaway, Launching you in to the Crypto World !

Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

7 Lessons (1h 46m)
    • 1. Welcome to the Crypto Command Course

      1:14
    • 2. What is Crypto ?

      11:02
    • 3. Binance Setup

      10:38
    • 4. The Exchange 101

      10:26
    • 5. MetaMask Wallet

      7:44
    • 6. DeFi & Passive Income

      18:30
    • 7. Technical Analysis Basics

      46:28
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About This Class

Welcome to the Crypto Command Crypto Course, we are excited for you to start your journey in this emerging new asset class of crypto.  In this course we will take you from a beginner to understand and know how to setup and make your first investment.

After building a Crypto Command App to help crypto investors and enthusiasts track their investments on different exchanges We quickly realised that many people are still completely new to this new world of crypto and want to invest, BUT just don't know how!

If this sounds like you, jump in and take our 6 part course, it's divided in to 3 easy to understand sections, that will take you from newbie to enthusiastic investor in our nearly 2 hrs of video content.

Learn along with our instructor Gabe and work through practical setups and examples as your develop your crypto knowledge and begin your journey.

  • Learn what Crypto Currency really is, understand the underlying terminology and concepts

  • Setup and learn how to fund a Binance wallet and account

  • Understand how to navigate your crypto exchange and buy and sell crypto

  • Establish a MetaMask wallet to start interacting with the realm of Decentralised Finance

  • Discover Yield Farming and How to Earn Passive Income from your Crypto

  • Deep Dive in to Technical Analysis to learn to read Charts and Patterns & trade crypto for profit.

Meet Your Teacher

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Nick Pittaway

Launching you in to the Crypto World !

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Transcripts

1. Welcome to the Crypto Command Course: What's good everyone and welcome to the crypto command cryptocurrency course. My name is Gabe and I'll be walking you through your crypto journey if you end up liking me by the end of this, or just interested in more crypto content, feel free to connect with me on YouTube at G night. Furthermore, if you're looking for an easy and user-friendly way to track the crypto market and manage all of your funds across multiple exchanges. Check out the crypto command app. There's a link to adhere and you could also find it in your App Store. That being said, let's start talking crypto. This course will contain what I consider to be the most important topics in detail in crypto. And it's perfect for any beginners. We're going to start off by looking at what crypto is. Next, I'll help you set up your account and learn the fundamentals of the exchange. So you'll understand how the exchange works and how to buy and sell crypto. Next, I'll walk you through setting up a MetaMask wallet, which will let you interact with the realm of decentralized finance. And then we will look at decentralized finance. So you can discover it, yield forming and start earning passive income off of your crypto. Lastly, we'll dive relatively deep into technical analysis, learning how to chart, use indicators and re-pattern so you can trade to your advantage. You're in for a wild journey throughout crypto. So let's get started with our first topic. What is crypto? 2. What is Crypto ?: What's good everybody In this video I'm going to be introducing the topic of cryptocurrencies to you. We're gonna be talking about what are cryptocurrencies and what makes them so awesome. So what is crypto? Well, basically it is digital currency. What this means is that there's no actual physical currency involved. There's no such thing as a physical Bitcoin or physical theorem that people exchange with one another. It's all digital and it's all stored on the blockchain and we'll get more into that later. But for right now, what you need to understand is that it's a currency, which means you can use it as any other currency would be used. You can use it to pay for goods. You can receive crypto payments. You can even lend out your crypto and take crypto loads. So basically, it works as any other currency would. And it's recently become a very popular alternative to traditional fiat currencies, such as the US dollar, the euro, the peso, whatever your native country's currency is, becoming a great alternative to it. And we'll talk about that once we get into the benefits of crypto and cryptocurrencies work because of something called blockchain technology. This is the underlying technology that enables cryptocurrencies. And it basically prevents counterfeits of crypto and also prevents double-spending so that you know that the cryptocurrencies that you receive or valid transactions, and it's just not going to disappear from your crypto wallet one day. And another really cool thing about cryptocurrencies is that you have full control of your money, which means there's no need for banks because this is all decentralized. Your crypto wallet will basically act as your bank and you will in essence become your own bank, which is super awesome. This means you don't have to worry about withdrawal limitations, how much money you have to keep in the bank, or even if the bank has your money, because now you have control over your money, you can monitor your balance, see how much is in there, and withdrawal however much you want whenever you want and do whatever you want with it. So yeah, Crypto is pretty cool like that. But that also means you have a lot of responsibility now because now you're in charge of the money. So yeah, make sure you take care of your cryptocurrencies and your cryptocurrencies will take care of you. It's also worth noting that there are thousands of different crypto is on the market and they're not all created equal. There are some really well-established ones such as Bitcoin, the theory of Monera. And then there's also what we call a shit coins, which are cones that really serve no purpose, don't have much backing and are generally scams. So do your due diligence, research the coins before getting into them. And that way you can ensure that you're buying, you're legit cryptocurrency that people will actually use. So you may or may not be familiar with the word coins or tokens, but I'm going to break it down for you because it is worth noting the difference between a coin and a token. So what a coin is, is it's basically a cryptocurrency that's native to its own blockchain and you'll know it's native to it. So blockchain because you'll use it to pay for the gas V's, which are basically transaction fees that you pay when transacting or making transactions. And it's also rewarded to the miners or stakeholders who validate these transactions. And then you have tokens which are built on another blockchain. They can also exist on multiple blockchain networks as well. So it's worth noting this because you're going to hear these terms get thrown around and sometimes people use these, but they're really two different things. And it's generally good to know, especially when researching different coins, to understand how that coin works and what makes it so special. And it's also good to know because when you're making transactions, you want to make sure that you send the coin or the token on the appropriate network, or otherwise they're going to end up burning your funds, which means setting them to someplace where you'll never recover them. All right, so moving on, let's talk about the basics of blockchain. Now the reason I bring this up is because blockchain technology is what gives you trust in cryptocurrencies. And if you can't trust Blockchain, you really can't trust cryptocurrencies. So I'm not gonna go too in depth into this. It can be quite complicated. And the truth is, it's not very important to know. It's just good to have some kinda general understanding of it so that you can trust them, money that you'll be using. Think of it as like learning basic economics so that you understand how your dollar loses value every year due to fractional reserve banking. So with that being said, let's go ahead and get into it. So as I previously mentioned, Blockchain is the underlying technology that enables cryptocurrencies. And you can think of blockchain as one huge distributed ledger, also known as a public database. Now these transactions are recorded into blocks on this database. These blocks will be chained together sequentially and we'll talk about how this happens. But what this does is it creates a tamper-proof environment so that you can ensure that all of your transactions are valid and that your money is just not going to disappear from you. And this is all possible due to cryptography, which is basically very complicated math that you do not need to know. But to understand how a math ensures that your transactions are valid, Let's go ahead and take a look at what a block is. So there's three functions to the block. There's data hash and then the hash of the previous block. So the data that goes into each block are the transactions, who it's from, Where's it going to Amount being transacted and this data will generate a hash. And you can think of a hash as like a fingerprint because it's going to be unique to that specific data. And the hash is generated through cryptographic functions at which the data inputs are going to equal a hash. But this hash cannot give you the data inputs that were put in. And if any of the data inputs are changed, is going to completely change the hash, which would invalidate the block. That's why you can't really tamper with blockchain because changing the data would change the hash which would invalidate transactions. And the more blocks added to the chain, the more valid those transactions become. And this is because the new block includes the hash of the previous block, which is ultimately what chains all these transactions together. Now it would technically be possible for someone to alter a transaction and then with some kind of supercomputer to calculate new hashes for all of the subsequent blocks. This is where proof of work and proof of stake come into plates and make it nearly impossible to overtake the network with proof of work, computers must solve cryptographic algorithms to validate blocks, and these validators are known as miners. Now this is a very time and resource intensive process. So if someone were to try and ultra block, they would have to retreat the proof of work for every single block in the network, which would be nearly impossible to do not's I mentioned they would also have to have 51% control of the network. Proof-of-stake varies from this, but it's also a very popular method for reaching consensus in proof of stake holder state coins in order to confirm transactions. And typically, the more coins that you stake, the higher the chance that you will confirm the transaction is. And if someone words who wants to corrupt the proof of stake network, they would have to stake 51% of the total Cohen supply, which would be extremely difficult to do an extremely costly. And also they wouldn't have much incentive to attack the network they hold a majority stake in. So I know block chain can be confusing, but the good news is you don't have to be a blockchain experts to get started with crypto. However, if you're looking to get started with crypto, it's probably a good idea to know the benefits of crypto. Firstly, crypto is decentralized, which means there's no central authority and you're going to have full control of your money. Everything is backed by math, which creates a trustless environment, and it's also permissionless as you don't have to ask permission from anybody to do whatever you want with your money. Secondly, crypto can make a very great and lucrative investment, especially if you're investing in a project with great token omics, because this can drive the price of the acid up and also be a great way to hedge against inflation, especially coins that have supply caps or had deflationary token omics and which coins are always, constantly being burned or has some source supply cap and people just keep losing coins decreasing the supply. Also, there's this plenty of ways to generate passive income off of your crypto. You can mine crypto, you can stay crypto. You can allocate your crypto to DeFi protocols and earn passive income that way, you can provide liquidity to liquidity pools. You can even borrow crypto and get paid for that. Surprisingly. And you can also lend out your crypto and get paid for that as well. Furthermore, some crypto projects may have some real-world utility to them. These utility tokens can give you access to a product or service or company that you otherwise would not have access to without the utility. A lot of cryptocurrencies are also extremely transparent. You can open up a blockchain explorer and look at transactions in real time. Furthermore, a lot of these cryptocurrencies are open source. So you can look at the code for yourself and see if it's something that you trust. Now one of my favorite benefits that crypto is that there are privacy solutions, especially with privacy coins such as much narrow or Z cash, you're going to have fungible coins which you can transact anonymously with people so that nobody sees how much you transact, where it came from or who it's going to. The last benefit I'm going to mention is that cryptocurrency is universal, which means one bitcoin is always going to be worth one bitcoin to someone else somewhere in the world. So if you're sending payments, country, there's no conversions needed along the way, you just going to send them one big coin and if they want, they can vent, just convert it back into fiat money. But with all that being said, there are still some negatives to cryptocurrency that you should be familiar with. Firstly, you've probably noticed, and especially if you're watching this video, crypto is not entirely user-friendly yet, it will take some time it patients to fully understand like how to use your wallet or make transactions or even secure your crypto. But with time, all of this stuff will improve as more people are drawn into the crypto space. Also as much of a benefit, this is also quite a negative as well because everyone is going to be responsible for their own funds, which includes managing your funds and securing your fonts. So if you mess up in any of those two areas, it can result in the permanent loss of your funds. So you have to up your responsibility game in order to be safe in crypto and decentralization. It's a plus as well, but it's also a negative because there's no customer support. If you make a mistake, it can cost all of your crypto and there's not a bank or a company you can turn to to help you out with it. Now the last negative of crypto is also volatility. But if you're trading crypto, you'd probably argue the other way because volatility is how you make money crypto. If there's too much volatility for you, it is worth noting that there are ways to get around it. You can diversify your crypto portfolio. You can also get the stable coins. There's many different ways to reduce volatility, but as time goes on, the volatility of the crypto market has been decreasing. So there may be a point in the future we're volatility, it won't be an issue anymore. So that concludes our first video on what is crypto. Stay with me until the next video because we're going to be taking a look at how you can purchase crypto through a centralised exchange, we're going to look at all the different fundamentals of the exchange that you need to understand and how you can place your first crypto ordered. So I will see you in the next video. 3. Binance Setup: What's good, everybody In this video, I'll be showing you guys how to create your finance WS or your finance account so that you can get started on a centralized exchange to start buying and selling crypto. So if you live in the US, make sure you're on finance dot us. And if you are anywhere else in the world, you can just use regular finance. That's pretty important because if you use the raw bytes for your country, your account can get locked. So make sure you're using the right exchange. So to get started, you can head over to bonnets dot us or bonus.com. And it's going to give you this prompt here where they're gonna want you to put in your email. So we'll go ahead and do that. And then you can put in your password. There we go. And then you can go ahead and put it into a referral ID if you have one. This is just my personal referral ID from my main account which I put in here. You don't have to put it in, but if you do use a valid referral ID, you will save 20 percent on your trading fees, which is pretty good. And lastly, you're gonna go ahead and check this box stating that you're over 18 years old and that you agree to the terms and conditions and their privacy policy. And you can click on these to read more about them. Next things, next, create the account. And it'll verify you not going to solve this little jigsaw puzzle by sliding this into the correct spot. And it'll open up your account. And now you're going to need to access your email and put it into code. And it's on a timer. So make sure you don't put this off. You have 10 minutes to do this. All right, next thing is going to ask you to do is secure your account and complete identity verification. So you're definitely gonna want to secure your account because you are working with money and you're not going to want anybody to steal your money. So it's probably going to ask you to do some two-factor authentication. An anti efficient codes. Waitlist addresses that kinda stuff and we'll go over all of it. And the next thing it's going to want you to do is complete and identity verification. This is for tax purposes. And the reason you need to complete this identity verification is because you will have some pretty severe restrictions on what you can do within the exchange if you do not complete all the stages of identity verification. So you'll probably have to do it. So we're gonna go ahead and click on secure count. It's going to want us to put in a phone number. And then you go ahead and click on Santos. And what this is basically doing is creating two-factor authentication through text message. So every time you're going to log into your account, it'll take you a code that you have to input along with your password. All right, so now we're going to name authentication. So now we've just enabled two-factor authentication through text messaging or so. Lastly, is going to ask you to verify your identity. It's pretty straightforward. You just gonna go ahead and click on Verify identity and just input all of this information and just follow the prompts. You'd have to put it in your first name, your middle name, your last name. You don't have to really put a new gender. It doesn't really matter. Your date of birth will have to be accurate and it's going to check to make sure you're over 18 years old and you're gonna need your tax ID or your social security number. And that's pretty important because if you don't have it, it will not let you do this. And then you're also going to have to upload government documents, whether it's a passport or your driver's license, or some other kind of official verification. So it's going to look at your face and some of the numbers on there. So make sure you have all that available because it's going to check that and make sure you're a real person. Alright, so after don't have all that is going to bring you to your dashboard where you can see your value is going to show you the activity over here. It's going to prompt you to upgrade your level of security so you can enable two-factor authentication. You're definitely gonna wanna do your identity verification so that you can actually interact with the exchange, your anti phishing code you're going to want to do as well. And what does anti efficient code does is whatever you type in here will appear in all e-mails from finance so that you'll know that it's a legit e-mail and it's not some kind of phishing attack or someone's pretending to be finance. So we're gonna go ahead and click on Submit. It's going to ask you to do the two factor authentication and our anti efficient code is in there. The next thing you're going to want to do is head back over to security. You can enable Google authentication if you want to, just go ahead and click on, you're going to download it from the Google Play Store. You're going to scan this QR code. You're going to write down this backup key and treat this like it's your private keys for crypto or some like that. Because if you ever lose your Google Authenticator device like a phone that it was on, you're going to need this key to access it again. So right this key down and never lose it, keep it just as secure as you would anything else crypto related. And then lastly, you go ahead and just log in putting your two-factor authentication code, and then you also put in your Google authentication code as well. So now you're like triple secured. Our lastly is gonna want you to white list some addresses. So if there's a specific address that you want, so you withdrawal Crypto 2, you can go ahead and click on Add withdrawal address, which I highly recommend because if anyone hacks into your account, you're going to want some kind of waitlist so that they can't. Withdrawal crypto to their personal account or something like that. But truth is if a login to your account, they probably have the means at this point to change your waitlist, but it'll take them more time. It perhaps give you more time to react to the hack. So you can go ahead and put in like BNB for example, if you want to take it off the network, you're gonna go ahead and select which network you want to do. You can title it whatever you want. So let's say you're sending it to your finance small chain wall and supinate smart chain. We'll call it a bridge as I like to call it a PhD. I don't really use it as a wallet. And then you can type in the address of that wallet that you want to send it to. And then if there's a memo required, you put that in as well and you'd click Submit. And it's very important to match the coin up with the appropriate network because you don't want to be saying your funds to the wrong place. And it will get more to how these networks or they work in later videos on Friday. So once you've done all that, you're pretty much sit here. Next thing you're going to want to do is probably deposit some money into your account and purchase some crypto. Alright, so what I'm doing now is I'm switching to an account in which I had my identity verified on already because that process can take a couple of weeks if it's very slow for whatever reason. When I did it for the first time, it only took about a day. But I do know some people who took weeks and even some months for some others. So it really just depends case, phishing attacks can be very sneaky and they may have this address if your change so slightly that you won't even realize it. So what I personally like to do is once I've made sure that I'm on the correct website, I liked to bookmark it so I can access the exchange only through that bookmark. So what I recommend you do is just create a bookmark for the official site so that you know, every time you access it, it's going to be legit. So to deposit some money on the verified account, I go up to my wallet, click on the pause it. And when you're doing this for the first time, you're likely going to be depositing US dollars. So you can go ahead and switch this to USD or whatever currency that you wanted to pause it. And, and you're gonna go ahead and select where you want it, deposit it from. So before I show you how to set up the bank account, some people may want to start out by crypto with a credit card or something like that. So let's go ahead and click on, add a new account. And let's say you want to do debit card. So it's pretty straightforward. Just click on debit card, input all of the information that at once review. And then you click Add Card and it'll let you import money into your account. It is worth noting that you can use a credit card, but there may be fees that apply. So be careful with a credit card. Make sure you know what kind of fees could apply to you and that you actually have the money to pay that credit card. So if you want to use a debit or credit card, that's how you would do it. This is not the method that I would recommend. So if you wanted to ACH, which is basically just a bank transfer Automatic Clearing House I think is what stands for. Basically if you just want to connect your bank to the exchange, which is what I recommend, you go ahead and click on this, click on Continue, find your bank or you can search for it here. And you're just going to log into your account pretty much and hook up your bank. If you've worked with stocks before, I'm sure you've hooked up your base somewhere else before. The process is not very different. Just make sure you have all the information you need for these accounts, such as your login credentials, perhaps even your routing number or your account number or something like that. So once you've got all this hooked up, we'll go ahead and go back to deposit. Switches back to US dollar. And then you're going to type in the amount of money that you want to deposit. Click where you want to deposit it from and click on Continue. And it's just going to ask you to confirm some stuff and you can deposit money relatively easily. And if you head down here, you can see all the recent deposits into your account for USD and for crypto. And the last thing I want to show you guys here is if you go up to resources and click on staking is going to bring you to this page here where you can see all the different types of coins that you can stake through your spot well and earn annual rewards paid out in interest in that coin or its reward coin. So as long as you hold the minimum holding amount required, you can actually earn the staking rewards. So let's say V chain as an example, you can see that you're paid out in annual reward between 1, 3% and you have to hold at least one vet to qualify. So if you go ahead and click it, you get a little bit more information. And you can see that the reward point is V3. So you'll be getting paid out one to 3% in vivo, which is what's used to pay for gas fees on the V chain network. But with other coins here, you actually can get paid out in the coin itself. So for example, if you hold at least 10,001 coin, you'll get paid out two to 3% in one coin. You can also look at their historical rewards here and see what's typically paid out in the percentage that people typically receive. You can see the last distribution date and how many were distributed and what was the annual percent yield? These rewards are typically paid out monthly and distributed straight into your spot well, on the exchange, however, there's definitely better ways to stake your coins. I always recommend that you stick your coins through your hot wallet or your cold storage if it allows, because then you'll actually own the private keys to your crypto. And you could also potentially get more rewards. And if you provide liquidity to DeFi protocols, I know you can earn some very lucrative returns and we'll cover all this in later videos. So that's pretty much how you set up the exchange and add payment methods. In the next video, we're going to look at how to actually buy crypto off the exchange and how to sell crypto. So stay tuned for that and I will see you guys in the next video. 4. The Exchange 101: Well, it's good everybody, Welcome. In this video we're going to be taking a look at the exchange, how to buy and sell crypto and some other stuff you want to keep in mind while working on the exchange. So the first is first is you're going to want to deposit some money into the exchange. So in order to deposit fiat money onto the crypto exchange, which you're going to want to do is go to your wallet, click on deposit, and then changed it from Bitcoin to US dollar, you can deposit crypto fury half. So, but if you're watching this tutorial, I'm assuming you probably don't have any crypto yet. So you're going to want to change this to the US dollar and then type in the amount of money that you want to withdraw from the bank that you've already set up when you created the account. Next thing you're gonna wanna do is go ahead and buy some crypto. So I like to go up here to trade and click on advanced. Now it's really not that complicated. It's not as advanced as it looks like. And we're going to break it down so that you'll fully understand what's going on here. So ignore the chart for now, ignore everything over here. Let's take a look at how to actually buy some crypto. So if we come to this right-hand side here, we can see buy and sell. And then we have various orders that we can do. We have a limit by a market buy and a stop limit. And we also have the same thing for cell. We have a limit, sell, a market sell and stop limit cell. So let's just go over what all of these do and how you can place the orders. So let's go ahead and start with buying crypto. So the first option presented to you, which is easiest to understand is the market order. Now with the market order at what you're doing is you're going to be buying the crypto at its market price. Where is the market price? Is right here. This is the market price. You can see the entire order book and these are all the orders that are currently in for that crypto acids. So in the green here you can see who is buying at what price and how many. And you can also see who is selling at what price and how many. So when doing a market by you will be buying from the cheapest order in the book right now, which will be this bottom selling order right here. So if you do a market, buy it, you're going to be buying at this price right here. Now if you were to do a market sell, you'd be selling it to the highest bidder, which would be this price right here. Let's go back to the Bible. Quit. And if we type in our market by, what we can do is we can type in the amount of bitcoin that we want, 0.005 bitcoin. There we go. And we can see how much Bitcoin we get. And we could just click buy BTC and it'll by that price. Now, maybe you don't know how much money you want to spend. So you can actually change this to a dollar amount right here, and you can see that it will cost you $229. Alternatively, if you don't know how much pick on you want to buy and you just have money that you want to invest. You can type in how much you want to buy, you can do it a $100 worth of Bitcoin, and it'll automatically calculate that for you and you'll be buying at this market price right here. Now, you can also allocate a certain amount of your available portfolio to buying this. So let's say you have some money in your account. You don't really know. You want to maybe spend 50 percent of what you have available on it. You can use the slider here to drag it to 50 percent or just about. And it will automatically calculate how much money it'll cost to get the big coin. And you can switches the bitcoin to see how much Bitcoin you're going to get. So that's pretty much how the market works. Now, let's say you don't want to buy this market price. Let's say you're waiting for the next dip or something and you want to have an order open so that you can be ready to buy the dip without actually having to wait or watched the price fall. And then you just do a market by, well, that's what the limit bias comes into play. So with the limit by, you can actually set the price that you want to buy Bitcoin at. Let's say you're extremely bearish on Bitcoin right now and you think I'm just going to drop to about 25000. So you could type in 25 thousand USD. And then you can type in which Bitcoin you want to buy it. Or if you don't know, you can use this slider here to kinda guesstimate. And it'll automatically calculate how much dollar amount that's going to cost you. So let's say I wanna buy a $100. I can use the slider to get it to about a $100. And then we can click by PT, BTC. And it's going to go down into our open orders. And it's going to remain open until bitcoin drops to 25 thousand USD. And once Bitcoin hits 25 thousand USD or lower, you will be buying the Bitcoin at that price. So the limit buys a great option if you're looking to buy at a particular price that you have in mind. So now let's say you're looking to buy it at a higher price than its market price. Perhaps you're looking for a movement upwards or a breakthrough. So let's say you think you might breakthrough around its last higher resistance point at about 65000. So perhaps you want to buy Bitcoin as 66000 because that's when do you think the market will have recovered and will continue to go up to around a 130 thousand or something like that. So you could type in 66, 1000 here. But the problem with this is that because you're, because the market price is below the limit price that you put in, you will be buying the crypto pretty much at the market price. Because with a limit buy you'll be buying at the price you said or better. And in this case the market price, it would be better. So what's the alternative for this to stop limit? So you can go to the stock limit here and you can type into price that you want, 66 thousand. And then you can set your stop limit at, let's say 65000. And what will happen here is your limit order. It will not activate until Bitcoin hits 65000. This means that when you place this order. It's not going to sell it to you at the market price. In fact, you will wait until Bitcoin reaches 65000 and was big coin, it's 65000, this limit where do I activate? And you'll be buying Bitcoin anywhere between sixty five thousand and sixty six thousand. Because you're going to be buying at the limit price or better. And in this case, our stop-loss would be technically a better price. So that's kinda how you can use this. And then you can type in either the amount of bitcoin that you want. And if you don't know, I personally just like to use the slider here and it's going to tell you how much it costs. So say we wanna do a $100. We're going to slide this to about a $100 here. And it tells you how much Bitcoin you're gonna get. So that's pretty much how it works to now, let's say you're ready to sell your crypto and take some profits. We're gonna go ahead and click on cell here. It's going to turn all of these into sell orders. And let's go ahead and discuss how this is going to work. It's pretty much the same way that the buy orders work. So if we do a market sell here, you can type in, looks at the amount of bitcoin that you want to sell. I don't really have much available in year, but let's say we had 0.05 bitcoin available. Then you could do the cell BTC and he's going to sell at the market price. And where's the market price is going to be our current highest bidder. So it'll be this top border right here. And it's going to pretty much execute instantly. And if you don't know how much a Bitcoin you'd necessarily want to sell. You want to sell a certain dollar amount. You can just turn this to dollar mountain and this is how much you would get if you place the sell order. Now, let's say you want to do a limit sell pretty much works the same way. Let's say you want to wait till big coin. Let's say you're making a price prediction you think is going to hit 66000, let's say. So you're gonna go here and you're gonna type in 66000, and that's when you are okay with selling your Bitcoin. So you can see it's 66000 going to put in the amount of bitcoin that you want to sell. And if you don't know, you can just use the slider here to show how much you can get out. I've got my pointer here, but you kinda get the example. And what this is basically going to do, let's just type in 0.05 Bitcoins, so you have them much new, want to sell it? Well, this order is going to basically do for you, is it will not sell your Bitcoin until it reaches 66000 or higher. That way you can get the price that you asked for it with your Bitcoin. Now, let's say you want to do, now let's say that you're doing some trades and you want to cut your losses just in case the tree doesn't necessarily go away. That's where the stop limit comes into play. So let's say you're buying it at its current price at around 45,500 and you're willing to risk may be like 10% or so, or maybe like $1000. Maybe you're buying one big point. You're really no risks about a $1000 because you think if it drops $1000, it's probably just gonna keep going down. So what you can do here is you're going to type in the price that you are willing to sell it at to cut your losses short. So if we're looking at 45,500 right now, let's say you want to sell it at like 4044 thousand maybe. So you can type in 44 thousand because that's the amount of risk that you want to take. And then you can put in your stop order at, let's say around 44,500. And what this is gonna do is it's going to wait till Bitcoin falls into this price range between 44,500. So once Bitcoin hits 44,500 is going to activate this limit order at 44 thousand. So you're order's going to fulfill somewhere between forty four thousand, five hundred and forty four thousand, and you can exit the trade. And every time you place one of these orders that doesn't execute instantly is gonna go down into your open orders and you can just click Cancel if you ever want to cancel that order for whatever reason. And here you can also type in the amount of bitcoin that you want to sell or just use the slider. So that's pretty much how all these order types work is pretty straightforward. It, once you start playing around with it, you'll kind of get the gist of it. One thing to keep in mind while placing trades on a centralized exchange is that there's trading fees involved. So go ahead and look at your policy and their trading fees and also note their withdrawal fees because most likely you're not going to want to keep your crypto on the exchange. You're going to want to withdraw it and put it in a secure wallet like cold storage or even a hot wallet you have on your phone. So keep in mind the trading fees involved and also the withdrawal fees involved. So there's no unexpected occurrences. It is also worth noting that you don't actually own the crypto on the exchange until you withdraw it. In the meantime, the exchange gives you an IOU, meaning that they owe you the crypto, but you will not hold the private keys of the crypto. That's why I highly recommend you keep your crypto off the exchange in cold storage or a hot wallet just depending on what suits your needs. All righty, so you should now know how to navigate the exchange and you should feel relatively comfortable buying and selling crypto. Now, that's gonna do it for this video, and I will see you in the next one. 5. MetaMask Wallet: What's good, everyone, welcome to the video. So what we're going to be doing in this video is installing MetaMask for Google Chrome, which is a browser wallet that you can use to store your crypto. And also a bridge between your maybe cold storage or some other Walter you have and the d Phi realm. So you're going to be able to use MetaMask to deposit some crypto into that. You can move it into some decentralized finance protocols to earn some passive income. So to start off, let me just go over some of the different ways you can store your crypto. The first method is on the exchange where you can just hold your crypto in their spot wallet. The problem with this though, is that the crypto is out of your hands. You will not be owning the private keys, so you have to trust the exchange to keep your crypto. The better option is to store your crypto in your own wallet, such as a hot wallet or cold storage. With a hot wallet, it's going to be connected to the internet. So it does pose a risk of hacking if you have some malicious software on your computer. So how well do have a higher risk of haves or the more secure method of storing or crypto is on cold storage, which would be like a ledger nano x or a treasure, some like that where the private keys to your crypto or stored offline in that device. So MetaMask is a hot wallet, but you're going to need it to connect to these decentralized finance protocols. So I don't recommend you store your crypto and MetaMask, but more so use it as a bridge that you can connect to decentralized finance. So the first thing you're going to need to do is go to GPS colon slash slash MetaMask dot io. This is the link right here. So go ahead and type that in, and it'll take you to a page that looks like this now from here, or you got to do is click on download now installed meta-bias for Google Chrome, and it'll take you to a page like this. Now, next thing you gotta do is click Add to Chrome, Add extension. And it should be added in just a second. And sweet now should be added and you can see it pop up and the extension folder here. So what you're gonna wanna do is go ahead and click on Get Started. Now we're going to set up a new wallet for the purpose of this tutorial. But if you already have a MetaMask wallet, you can just go ahead and click Import wallet. Yes, Let's get set up. This will create a new bullet and secret recovery phase. So let's go ahead and create a new wall here. I don't like to give out data, but that's your personal preference. So I'm going to click on No, thank you. Now we're going to create our password. So you can just type in whatever password you want. But it doesn't need to be a minimum of eight characters. Go ahead and agree to the terms and conditions and click Create. It's going to show you a video here, but we're not going to need it because I'm here to tell you how to do it. The next thing is the secret backup phrase. So this is how you're going to recover your wallet. You case, it ever gets uninstalled from your computer or you switch devices or whatever it may be whenever you need it, backup your wallet, maybe forget your passcode. I don't know. You're going to be using this secret passage rates, you recover the wallet. So you're going to click here to show the words. So it makes sure you write these words down. I'm not going to show you what they are in case I ever used this wallet and you're not going to want to take a picture of it or anything like that because that's going to defeat the purpose of the wallet. It's going to, if your phone ever gets hacked and someone ever sees these words, they can steal all of your crypto. So write these words down, put it in a secure location, and that way you'll have it when you need it. Never show these to anyone because these are how you can access the crypto. So if someone else has these words, they can steal your crypto. Be very careful with it. Keep it in a physical format. All right, once you're done with that, go ahead and click on Next. Now you're going to have to confirm these words because they wanna make sure you actually wrote these down. So I will confirm my words real quick and we'll be right back. Alright. So my words are in the correct order. Yes, the order does matter. So make sure you wrote them down in the correct order and go ahead and click on Confirm. Now that's all there is to it. Your wallet is set up and you can add your ledger wallet if you want your hardware wallet. That's pretty much how you set up your MetaMask wallet. Now if you want connect your ledger device to it, you can go down here and click on Connect hardware wallet, and just pretty much go through the steps here. But now we're on the Ethereum main net, but we're going to, once you know their main data, we're going to add the finance smart chain because we're going to want to connect to some finance, more chain protocols. So I'm on docs at bonnets.org, destroy down. So you find this image here and it has all the information you need to add the bonus marching ants. So for network name, finance, smart chain, so that you can type it in like that. The RPC URL should be down here for the main net. We're going to use one of these recommended one. So it's going to copy and paste this one. And then type that in. The chain ID is 56, currency symbol B and B, because that is what's going to be used to pay for the fees for the bonnets more chain network and the Block Explorer URL so that you can look at your transactions is right here. And we'll type that in. Click on Save. And our finance smart chain is added to the network. So I'll go ahead and click on this X here. And we can see we now have B&B available. If you ever want to change to the networks, you can click up here and you can see this, the theorem, the theorem network. You can switch back to that. But I mostly work with smart chain network due to lower gas fees. And I like a lot of the protocols on it much better. So it's really up to you. You can use whichever one you want. But there's also different other protocols you can add. You can add the polygon network to it. But for right now we're just adding more chain, but you pretty much know how to do it now. You just look it up, add in the information that you need to. And yeah, that's pretty much it. This is your a MetaMask wallet. You can store crypto on it, you can connect, it's defies bar. And so lastly, just some functionality things because eventually you're going to send some crypto to your MetaMask because when you open it, there's no crypto on it yet. So you're going to want to add something to pay for Gatsby's width. In this case, if you're using the finance more chain, I'm going to want to add some B&B to it so you can pay for your gas species. So in order to do that, all you gotta do is go to the exchange and what you're sending it from or another wallet and just copy and paste your public address right here. That's all I gotta do. Just type in your public address on where you're sending it from and you can send it to your public address also, if you want to send crypto from it. Well, I got to do is click on Send. Type in the public address you want to send it to. Choose the asset you once you send into gas price, click on Next and you can get from the transaction and it'll show you your Gatsby's here. I'm gonna go ahead and reject this though because I don't want to pay gas fees for an FFT transaction. You kind of get the point. And over here it's going to show you all the transactions you have done, and it's also going to be stored on the blockchain. So you can use your blockchain explorer to see your previous transactions. And the last thing you're going to want to know how to do is add tokens. So all you gotta do is click on Add token and find the token contract address. If you don't know the token contract address, you can just go to coin Gekko or look at Telegram or whatever the, whatever social profiles that they have. And one of those will have that token contract address and it'll say, I do is copy and paste it, put it in this slot. It will automatically fill out the rest for you usually, and you click on Next and it adds it for you. In this case, I just added some OK, well, so yeah, this video, we covered the different ways you can store your crypto. How to set up a MetaMask wallet so that you can interact with decentralized finance protocols. And in the next video, we're going to be using the MetaMask wallet to interact with these DeFi projects. We're going to be sending some crypto to MetaMask, and we're also going to be sending crypto to some of these smart contracts so that we can yield form on our crypto innards and passive income. So that's it for this video, and I will see you in the next one. 6. DeFi & Passive Income: What's good, everyone? So it's one thing to hold crypto and hope it goes up, but it's another thing to earn some passive income offer crypto. So in this video, I'll be showing you guys how to yield form on your crypto so that you can earn some passive income. We're going to be encompassing everything I've gone over so far. So we're going to start off on the exchange buying some crypto. We're then going to send it through various wallets to convert it to the right network that we need. And then we're going to put it on some defy protocol and earn some passive income off of it. So let's go ahead and get started. So right now I'm on finance dot us, but I'm sure you're on whatever change you want to be on. And we're going to pick up some B and B because I'm going to stake on the finance smart chain network. So let's go ahead and buy some B&B here. And I'm just gonna do a market by for the purpose of this video, just going to buy a little bit here. Valve, 32 bucks. So let's go ahead and buy thirty-two dollars worth of B and B. Alright, and our order has gone through. So now I'm gonna go over to my wallet here and check out my balance. And I can see my B&B down here. I'm now going to withdraw it already. So now I'm going to withdraw my B&B tokens to the bet network. I'll want a uniform on the BEP 20 network, which is a parallel to bind to network in which allows you to interact with smart contracts which are used on these DeFi protocols. So if you want to yield farm on the finance more chain, you have to use BEP 20 tokens, but when you buy them off the exchange, you're given two tokens. So we're gonna have to convert these. You might not have to have an option here to withdrawal to the about 20 network. I don't have that option probably because I live in the US. So we're going to have to send it to or finance more Chain Bridge. So we're going to go ahead and select our smart Cambridge. You're gonna have to add in this address, but it's basically your finance more chain wallet or you can use trust wallet or some other wallet that allows you to convert. We do not have a memo here, so I don't have to type that in. So I'm going ahead and withdrawal the minimum amount here is going to show you the transaction fee and this is how much you're going to get out of it. So let's go ahead and make the withdrawal. We have to put in our Google authentication code and then we'll have to confirm it through email. All right, so now we can see that the BnB has been added to our finance chain network account. And now we're going to have to convert this to BEP 20. All right, So to convert this BNB that to Tibet 20, what you're going to want to do is go ahead and find your abundance smart chain network account. Go ahead and switch to it, and then make sure you're on the right one. I want to be on my ledger account, which is right here. And now we're going to want to send the BnB tokens to this address right here. Now, note this only works through this bridge right here, whatever else you're using. But make sure that when you type this in, it's going to say cross chain account. Don't just send your tokens to this account immediately thinking it's going to convert because it will not, it will not convert. You're going to lose your fonts. So let's go ahead and copy this address, head back over to the binary chain network, and then switch to our account that received the funds has or B&B. So now we're gonna want to send this. All right. Now, note it says cross train transferred to bonnets more chain. That's what you want to see. If you don't see this, you're messing up, alright? So that is exactly what you want to see. There's no memo needed or something. Go ahead and send over 0.089. That'll leave some B&B left on the bindings chain wallet so that I can pay for a future transaction fees if I need to, and also cover this transaction fee as well. So we're gonna go ahead and click Send. So we'll go ahead and send that. Everything looks right, so I will sign the transaction and that will confirm it on the computer. So now we can see that we've sent our B&B tokens out of this wallet, so we'll got 250 left on here, and it should be in our finance more chain network Waller, I know. So let's go ahead and switch over, hop on the ledger device. And you can see we have it in our account, almost 40 bucks here. Now because this is my ledger device, I can actually access this on my MetaMask. I don't have to send it again, so we'll just leave it here for now. And it should show up on my MetaMask, which is what I showed you guys how to use earlier. This is the best wallet for interacting with DeFi protocols because it just has the least amount of glitches. I haven't really had any problems with it, and it's the easiest one to use. And you can see our Beebe has been added here. All right, so once you've bought your B&B coins and you've converted them to the network, you're now able to start interacting with DeFi projects to yield form on so I'm on planet finance right now. You may or may not have heard of it. But regardless, they all pretty much work very similarly. And this is just one feel like using because it's a new project and I think it's pretty cool and maybe it will go somewhere already. So I'll want to stake in this compounding aqua pull right here. So what I'm going to do is head over to the swap. And I'm going to swap my B&B for some awkward slogans. And that should leave us with a little bit of B&B leftover so that we can still pay for gas viz, if need be. So let's go ahead and do the swap here. Read anything from a swamp gas fee is point 0, 0, 1, v, and b is like 40 something sense perhaps. Go ahead and confirm the swap. We have done the swamp. You can view it on the scanner if you want, but we're not gonna do that right now. There you go. It's been confirmed. Now we go to Assets here. We see we've got a little bit of BIM be leftover. And we also have about 0.2 Awkward out. So now what we can do is head over to base and we can start, you'll forming. Alright, so let's talk about these pools here. So you can see the different tokens that there are available to stake on these. There's this awkward compounding pool here. So if you click on it, it'll give you more information. You can see the details of gouache and look at the contracts and stuff. And then here's the fees that you want to make note of because when you're depositing, withdrawing and there's fees that apply. So there is no deposit fee with this, but there is a withdrawal fee. So if you do it through all, you're gonna have to pay 0.1% of the LP value. There's also an auto compounding fee, platform fee on profits by back in Birmingham products. So all this stuff here is non-profits, so it's about 5% you're going to have to pay every time you claim off your profits. So if the profits you're only losing 5%, it's not terrible, especially if you're making a lot and rewards. And there's also some APY calculations, average percent yield. You can see the forming of the y's. So the LP token will not be increasing in price, but you will be paid out in Aqua a 171.92% per year. And the total APY with all this being compounded will be about 457.99% APY, which is quite incredible if you asked me now, that may sound a little too good to be true. So what are the risks involved? Well, if you're just taking in one of these single token volts, The main risk is with the price of Aqua. Right now, OK, was trading for a $138.10. If this goes to 0 tomorrow, then yeah, you're going to lose a lot of money in that 400% won't really mean much to you. So if you're bullish on the token, if you think that tokens get an increase in value or kinda stay kind of flat or decrease at very slight rates to where the yield would be profitable for you, then it would definitely be worth yield forming on it. If you're looking at a pair like this awkward B and B, now you're staking two tokens. So there's something called impermanent lost that you're going to have to deal with. What a permanent loss is. When people are swapping between the tokens, you may end up with a different amount than you put in. So when you put an awkward B and B, you're typically going to have to put an equal amounts of each so that people can swap between the two and there's going to be enough. But as people swap them, let's say aqua is increasing in value. People are going to be swapping B&B for Aqua, leaving you with more BNB and less aqua, which means you would have made more had just held on to just purely aqua and sold at the top. And you can look up and permanent loss. There's tons of different graphing calculators out there that you can look at. It's not a huge deal. It just means you're gonna make less than perhaps you normally would if you had just held aqua and B&B separately in your wallet. But one of the benefits if you're forming is that you're going to get these semi consistent returns. These rates do change. You can see right now, OK, would be nb is going for 689.27% APY and that rate will change. But as long as it remains somewhat consistent, you're going to be able to get that kind of return. Whereas where you wouldn't know if awkward or B&B was going to increase or decrease in value or enough to really make him permanent loss of big difference. And this in permanent losses only realize once you withdraw from the pool. So if awkward yoga and comes back down and everything comes back down to the price that you put it in it, then you're not going to have to deal with in permanent loss, but it's not really too big of a deal and just know that in some cases it can be more profitable. And just to hold aqua and B&B separately in cell at the right time rather than yield forming. But with the old formula, you're going to get these consistent returns and they're paid out by the second. So it's just something for you to consider. Lastly, I did what I mentioned there is the risk of hacking when working with DeFi projects. So make sure to read the docs, make sure you're working with trusted devs and that their code has been audited. Because otherwise you could set yourself up for some kind of horror story at where the deaths could steal from you or the site gets hacked and you can lose your funds. That being said, don't treat this like your normal bank account. Only invest what you're willing to lose because at the end of all of this, you could lose everything. So be very careful, but also don't let that stop you from your farming. Get out there, enjoy the profits to be made. Just be careful with it. So I'm thinking about yield forming in this four right here, we will have to do with impermanent loss or anything like that. So I'm gonna go ahead and put all of my AAC one here. And we've got to approve the spend. So you're gonna have to pay a little bit of a gas fee for that, about $0.14 to go ahead and confirm that excepted. And then we'll actually send the funds into the pool. And now it's wanting us to move the funds in Rhino. So we'll go ahead and confirm the deposit. Suites. A. Confirmed. And now we are sticking into the auto auto compounder. So every time someone claims this kinda reward right here. It's going to automatically compound my rewards and earn some pretty nice e-mail. And you can see the APY right here. So yeah, let's talk a little bit about how this works and how people actually make money from this. So this is kind of like a decentralized exchange. So the Swap feature here, people can swap and they're going to end up paying liquidity provider fees. Now to incentivize people to provide liquidity for others to swap between. They're going to pay a percentage of the feet. And if you go here to the liquidity, you can see that people who add liquidity will earn points 13 percent of all these fees. And it's going to be distributed throughout the liquidity providers proportionate to how much liquidity they are providing. I know that's a mouthful, but basically while people are swapping, they're generating profits and profits are distributed to the people who provide these liquidities. Why do they provide these liquidities? Because people want to swap between these tokens. So you can go ahead and stake in these pools and provide your own liquidity and earn on these fees. And you can kinda see we're already earning a little bit over here now because this is an auto compounder as people clean, just reward is going to automatically compound everyone's reward here, which is pretty awesome. So you can earn some yields. Once you're ready to collect, you can go ahead and click on Claim, but you're going to want to make sure you have enough rewards. And here too, where you're not just going to lose it to Gatsby's. And the optimal number to collect at differs per defy project, whatever the token omics, maybe it can all differ. But as long as you can afford the ISPs and you're making a profit, you're gonna go ahead and click on the claim, you know, confront the transactions and stuff and all that stuff's going to go to your MetaMask wallet. So anyways, on the old pool here, I still have a little bit of liquidity still on this old pool here that I'm going to want to withdraw so that I can put it into the new pool. So we're gonna go ahead and withdraw these tokens here. So let's go ahead and just withdraw everything because we're done with this pool. And when I click withdrawal here, it should collect my rewards as well. So we're going ahead and click on withdrawal, or don't wanna confirm it. So you can see in our wallet now it's added or rewards and we have our LP token. It shows here on the site, but we're going to want to change it back to money. I wouldn't LP token is, is it's basically just represents your liquidity in the pool that people can swap with. And we can see that we are staking here. Now we're going to want to remove our liquidity because we're done staking this old pool. Now, I know what you're thinking. This looks different than planet finance that we were just on. But the way planet finance works is that we're actually sticking in LP token from a different defy protocol. So in this case I was yield forming stable coins on Belt finance and I took the LP token and staked it on planet finance. So I've already unstated from plan to finance now. And now I'm going to swap my LP token for the funds that I put in, which in this case would be about $10.08 be you as d. So let's go ahead and swap our LP token for our money back. All right, so after we approve the spend, the next thing we're going to need to do is remove the liquidity. So we're going to request for our bus, the back. So go ahead and click on macs year, click on Remove liquidity is going to go ahead and pop up here and give us an estimated gas fee. But hopefully it'll be a little bit lower because this is quite expensive would relative to the pool. So let's go ahead and find our device and plug it in, right. So my ledger devices and now I'm gonna go ahead and confirm the transaction and hopefully it goes through transaction was confirmed AD token. Here's a contract address at that, and you can see we have our BUS D and now already, so the last thing left to do is take profits. How do we convert all of our yield earnings back into fiat money such as like a dollar or something like that. Well, what you're gonna do is forming aqua tokens. We'd obviously select our aqua and you're going to convert it back into something that is compatible with centralized exchanges, something that they'll take and buy from us. So be USD is a good example of this, especially if you're selling it on finance. Or you can use, or you can convert it to any other tokens here that you want or think you could sell like a theorem, you could sell that USB-C being B, but B USD is the easiest. It's a stable coin. Once you convert it back into the USD, it's going to be worth a dollar. So you just convert your awkward to be as d do the swap. And we already withdrew from the platform. And you can see that we have our USD already in our MetaMask wallet. So what we can do is now we can send it to a centralized exchange to get money from. So we're gonna take our USD and we're going to go to our bridge that we're going to use. Now this is already connected to my MetaMask, gets on the ledger device to the address of the same, but we're going to have to convert this back into bed 20. So in order to do that, we're going to swap two are financed chain network. As you can go ahead and copy your finance chain address. There's still some B&B left on here so we can pay for the transaction fees. Head to the finance more chain network. And we're now going to send our USD to our address. It's across chain. Select the asset you want to change to where to send the BISD, we're going to send all of it. Send it out. $0.08. So $10.08. Go ahead and do the transaction. Go ahead and click on Send, review the transaction. Now the transaction is said it's like a second, but now it's popped up. So we have our $10 in each cents worth of USD here. And now we're going to want to send this to our exchange that we can sell it. So we're going to use the bed 20 network. So we'll go ahead and send this out, go ahead and put in the address you want to send it to, and then type in the memo. Alright, so go ahead and double-check this as right. Alright. Now I'll go ahead and send the maxima. Click on Send and sign the transaction, which will confirm it. It will now send it out of our bonnets chain wallet into our exchange. All right, cool. So now you can see that the transaction has completed and has been sent. So now we have $10.08 worth of buzz D. We can now go to trade advanced. Alright, so now that you can go ahead and click on cell type and the amount that you want to sell, $10.08. And then you click on cell body. And because this is a stablecoin, It's pretty much always gonna be worth a dollar. So you can just go ahead and do a market order with this and sell the bus D. And you're gonna go ahead and get $10.08 already. So I know that was a lot, but so far you've seen me by crypto off of the exchange, send it to my finance more chain wallet and then convert it into bat 20 and then stick it on the protocol and also withdrawn the protocol and send it back to the exchange to take profits. That's pretty much how it's done. You should now feel relatively confident managing your crypto funds and staking it and earning passive income off of it. So thank you for watching and until next time. 7. Technical Analysis Basics: What's good, everyone, welcome back to the crypto command cryptocurrency course. My name is Gabe, and in this video, we'll be going over technical analysis. I'll be on trading view, showing you guys how to read candlestick charts, looking at the various indicators in how to use them. And then finally, looking at the various trading patterns that you'll use in your trading. So let's go ahead and get straightened. All right, What's good, everybody, I've hopped on to trading view right now, trading view.com. You can see the URL up here. So before we get into candlestick charts, I just want to explain how we even got here in the first place. So anyhow been trading view, you can type into train pair that you want to do. I have it set to Crypto and I'm trading Bitcoin USD, So that's just BTC USD. And alternatively, you can literally just type in. The coin is going to show you all these options. There's tethers, which is a stablecoin, there's bitcoin, GHB, whatever that is, and it shows you the exchange that it's gathering this information from. So here's the Bitcoin dollar. Right now I'm just on the coin you as the really no exchange it is, but the prices are pretty accurate regardless. So yeah, that's how I got here. Right here is your timeframes that you can look at. So you can select the timeframe that you want to trade out and you can see how it's gonna change the chart. So let's say you're trading on the hourly. We can go ahead and click on the earliest going to have it all on the hour. So where each candle here will represent one hour. And then you can make it bigger by scrolling up here, you can extend your timeframe by scrolling out or by scrolling ins. You condense it. And that's pretty much how that works. I'm gonna go ahead and change it back to the daily load because I like looking at the daily ahead and make this a little bit smaller and zoom out quite a bit. So that's just kinda how you can navigate around this. And I'm just on this crosshair tool here, and it allows me to drag and move around. And it is quite nice. I'm over here, we have the candles. There's different stuff you can use. I recommend you just stick with candles and turn on. So dark theme took me a while to figure this out, but pretty much right-click on here, go to color the internal dark that just makes you look ten times cooler while you're trading crypto. And also maybe it's better for your eyes, but I kind of doubt it. So yeah, the last thing you need to know up here are the indicators. Here. You can pretty much type in. Any indicator that you think you might use. People will pretty much as program this into trading view out enough that you paid for it. But regardless, you want to look at exponential moving average. You can type it EMA and fund the emails that you like. You can type in Mac D, and there's so many different types here, it's quite incredible. Union RSI, they got everything. All right. That's very much how you search all these up and we'll go over that in just a bit. So when it comes to reading these candles, I'm going to zoom in here just so it's easier for you guys to see and understand. So let's look at, let's look at this candle right here is a nice looking candle. So to understand this, there's basically two parts to the candle. There's the body, and then there's the wick, which you can see is that thinner part down here. And the bodies is thicker part right here. Now this candle is green, which means the price went up because people bought and there's a red candle right here, which means people sold, so the price went down. So to understand how these candles work, you're going to start looking at, Let's take out this tool here so I can draw a little bit. So here's our candle. So first thing to note is the open price. So each of these candles here will represent a day because we're on the daily timeframe. So this is a day, this is the next day. This is the next day. All right, That's how it works. Now, this is going to show you all the price movements during that timeframe. So the first thing to note is the open, which is right here. Alright, that's where though the body meets the width, that's where the price open, which means when this price close for the day, the next day, it opened up here at 12 AM and the price started doing some movements. Okay, so that's where it open to know where the price moves. You can look at right up here, this is where the price close. So at the end of the day, the price closed up here and it started the next candle for the next day. Down here we have our WIC. The wick shows you how low the price went during the day. So if you want to know the lower the price you would look at down here, this is how low the price went during that timeframe. So when it opened the price, luckily did people Reebok went up here and there's not much of a wick up here, but there's a tiny bit of awake and you can see that it went a little bit higher than the clothes and then it settled on the close because the top of the wick shows you the high of the day. So it's, it's pretty afford like that. And then for cell, it's just kind of opposite. So at the top here, this is where the open is, because the price started up here and it fell down here. And that's where a closed, a closed right here. Alright, and it opened right here. So the price fell because it's red. And the price went as low as right here. But it rebounded, closed here, started the next handle. So the price it opened up right here at this yellow line that I drew. It went up to this high right here. And it then fell down all the way to right here. And then it went up to the close and it started the next day. And you can see that it went up all the way up here. A fell all the way down here. And then at 12 AM and close right here and start the next handle. So that's pretty much how these candlestick charts work. I'll throw up an image that you guys can look at. Kinda just break it down even more. So yeah, understand how these candlestick charts work because that's how you're going to have to do your technical analysis. Shows you all the information that you're going to need. All right, so now that you understand how to read candlestick charts, we're going to look at how to use the tools available to us so that we can perform high tier technical analysis. So I know that looks like a lot here. You probably don't know what they do. Probably looks confusing, but the good news is there's only really a few that you really need to understand. And the truth is, they're not that hard to learn. So first things first we have our cross up here and you can change this to whatever you like to use. I personally just like the cross, but they have an eraser tool to erase stuff for whatever reason. But we don't make mistakes here, so we never use that. Anyways, I'm kidding. I like to cross here, kinda reminds me of Minecraft. Looks cool. I don't know. This is what I use and you can use it to basically drag around the chart. It's quite nice. I use probably this tool the most. But this isn't really going to help you with technical analysis too much. You're going to need to draw some trend lines. Now I'm gonna use some terms you probably don't understand yet, but we'll get into it. Don't you worry? So first things first is our trend line. You can go ahead and click on this trend line and you can use it to draw trend lines. So you click where you want to do it and you don't have to hold it down, you kinda just drag your mouse where you want to put it. And let's say, you know, kind of balanced right here. You're going to use this to draw out where your support and resistance lines are. Don't know, don't worry about what that means. That's kinda what I use it for. And you can kinda see we have our resistance line where all the prices kinda have bounced off of. So that's kinda cool. And then you can also, there's another tool down here that I like to use. All of these different types of tools here. They pretty much all do the same thing, but I really liked this horizontal line as well. So we can see like a lot of strong resistance. If you just want to draw all support resistance levels, you can just go ahead and click right here. And it's just going to draw a horizontal line all the way across forever on your chart. And that's going to map out support resistance and you can change the colors here. I like to keep my support green and my resistance read just helps me visualize it I'm looking at, but it's really up to you how you want to do it. Next tool that we have here is our Fibonacci tools. And they're pretty simple use, but we will talk about that later. Don't worry about it right now. Next tool is this brush. You can kinda draw your price predictions. Maybe, maybe you think this is the top or something that's going to come down here, bounce off or something and come down here. I don't know, you can just use this to kind of draw what's going on or maybe order. Write something up here. I don't know. You can use this as a brush. It pretty much as draws, whatever you want it to draw. It's simple to use and you can change the color and change the width. So yeah. There's also this typing tool. You can just click and type whatever you get. Whatever you want shows up here. You can change the color, the size of the faun. Put some lawyers make it look nice. If you ever publishing your charts and stuff. Some people like to use text to kind of explain what's going on. But yeah, that's just a tool available for you to use as well. Though some arrows and stuff. Yeah, really need to worry about anything else here. This is pretty much all I ever use. 12 and technical analysis. And that's probably all you'll ever use. The rest here is just kind of it's just there in case you want to use it. So yeah, that's how all the tools really work. Let's get into what technical analysis all about. So what's ethical analysis? What you're really doing is you're drawing out the emotions of traders. This is not some crazy price prediction tool. You can not predict prices, but what you can't predict or the emotions of other traders which influence the price. So in sorry, and you can kind of get a general idea of where the price is going based on previous trends that have occurred in the past. And the whole basis of technical analysis is to see how supply and demand will affect the price of the asset. And you're gonna do that by drawing your stopping and draw out the price changes that reflect the emotions of other traders. So the two very simple terms that you're going to need to know, our support and resistance. So I'm gonna go ahead and use this horizontal line here to draw my historic support and resistance lines. So when we have resistance like op here, this means that people weren't really comfortable with buying in this area. And people were most likely selling, which drove the price down. So when you have a resistance line, that's typically where the price is going to return from. It's not going to pass. It's gonna be harder for the price to pass that. So we can go ahead and click here, turn this red to show that we have resistance up here. Meaning if the price ever returns up here, it might fall back down. It's likely to fall back down. And then we can also use it to draw our support. And the support line is where people are comfortable buying at it, which is going to drive the price back up. So this is the line where the price typically does not fall below, or at least it's harder to fall below. Typically pause before fallen below it wherever you want to put it. So we can use our horizontal tool to kinda draw our support line. So now we can see our support resistance and you can do this on numerous of times. You can draw all your resistance or support levels to see where the price is going to be going. You can draw these support and resistance lines wherever you want really. And you can even use these trend lines to show moving support and resistance. So we can say that, yeah, we saw some, some kind of pattern here where the resistance was falling. So you could draw that out like so. And you can see like how the price has hit this resistance line multiple times, which typically makes it pretty strong resistance, it forms that pattern. And then you can kinda see there's a little bit of a breakthrough here. So those are just things that you can use the support and resistance for. And you can also do the same thing with support as well. If you see support moving upwards, you can zoom in here. And you can draw some moving support resistance. So we know that there's seeming to be some resistance along this line right up here. So we can kind of draw that out and we'll extend this just to make it look nicer. And then we will also draw some support right around here where we can see that the price is moving towards. And this right here is what's going to give us a pattern. And I'll show you all the patterns that I like to look for. But right now we're just looking at support and resistance. So that's just kinda how you can use those tools. Much done with support resistance. You're probably going to want to look at some technical indicators or even your Fibonacci. So let's go over the Fibonacci real quick. So what the Fibonacci is is it's basically sequence of numbers in which the, in which the next number in the sequence is the sum of the previous two. So it's going to be like 0, 1, 1, 2, 3, 5. You kinda get the gist, right? Why this works? Really because of math. This is just some crazy math that just traders think, uh, works. And because trainers think it works, people will be trained to the Fibonacci. And if people trained to the Fibonacci, then the price will reflect it. So to use the Fibonacci tool, we've got to click on this arrow here and you'll have to select fibonacci retreatment tool, which I like to use personally because at least in my opinion has been quite accurate. And to use the Fibonacci tool, what you're gonna do is you're going to click at the bottom of the movement and draw it to the peak of the movement. So here's our movement and you can do this on any timeframe, but I'm looking long-term. So I drew from the bottom of the movement all into the beak. And what this is going to do is give us our Fibonacci two levels. And these levels are typically regarded as support or resistance depending on where the price currently is. So you can see how this is kinda lined up. We have the resistance right here. We can kind of see that there has been some support around this line in the past. I definitely some support around here. It hit resistance at this level right here. So you can kind of see how this lines up. And really it's just because of math, There's really no great way to explain it to you. You just have to trust the math on this one. So yeah, that's how this works. And you can see all the levels here that we have. We are at 23.6% or 38.250%, 61%, 0.878%, 0.6%, and a 100 percent. So yeah, these are the levels that I like to use. You can I think you can customize all of these levels if you want. I don't recommend you do, I don't recommend you change them at all. Just keep the default levels that they have for you. Because those, those are the ones that typically work the best, um, and they, they pretty much get the job done. So these levels here, you can use them as support resistance. And it's also worth noting that when you draw out this line, this 0.5 level right here, this 50 percent level is typically regarded as either really strong support or really strong resistance. So what I mean by that is if the price is above right here and it dips below this 0.5 level, then that's typically a by indicator for a lot of traders because that means that it's kinda like discounted. In other terms, it's a good place to buy into it. And you can kind of see how this has held true every time it's dipped below this 0.5 level, people have a body in forcing the price up. And especially right here after we've already drawn the peak to the movement, you can see that people have bought in here which drove the price up. So 0.5 level is always a great place to buy because it is just really strong support. Typically. Now, if you want, say fibonacci to the next level, you can draw some trend based Fibonacci, which I loved to use a lot because I've found this to be quite accurate in my opinion. So what I do is I go up here, I click on trend based fib extension. Now the way this works is it's an other Fibonacci, what it's going to give you more levels to look at. So you're going to click at the bottom of the movement. You're going to draw it to the top of the movement. Then you're going to draw it towards the retrace meant. Now the reason it's called a Fibonacci retrace meant, and I forgot to mention this a little earlier, is that because typically the prices will retrace at each level. So let's say we have a move from the 0.5 all the way through the point 6, 7, 8 typically can retrace back down through this 0.5 level. That's typically kinda how it works. The price will move in-between the levels and you can kind of see it right here. You can see how the, let me zoom in so it's bigger for you as you can kind of see how the price has moved in between this level and that's kinda what we call it retracing when it hits us resistance level and then retraces downwards. So that's kind of what you're looking at and that's why it's called a Fibonacci retrace me. So. This tool is great. So I showed you guys how to draw it. And now we have more levels to look at. And this kinda gives you ideas of where the price can move in the future. So if you're really bullish on this and you want to know where can I take profits? Well, were other traders looking to take profits? They're probably using the same tool here and they're probably looking to take profits at this 1.608 level. Why? Because that's just where people feel like is a good place to take profits at. So you'll probably see people taking profits somewhere in this area right here. So as you move upwards, you'll know to start taking profits somewhere here, as long as you're bullish on this and all your patterns and other stuff indicate towards a move off here is typically works out pretty good. You can even adjust this. Let's say people drew it somewhere. Let's say people drew it like summer right here that you're at the peak of the movement, your trace downwards. You can see that it's hit this 1.618 level and it's kinda actually retrace a little bit because people to profits and kind of see how it's kind of blasted through it and that's to be expected. You know, it doesn't always have to stop at this 0.1-six a level or at this point, yeah, the 0.608 level, it can go forwards and people continue to make profits. It just kind of gives you an idea of what to look for long-term. It doesn't necessarily give you the perfect price prediction, but it shows you where the price could be headed. And it'll show you the levels at which people will most likely start taking profits at. So it's super helpful tool. I like to use it, but it's really up to you if you want to use it. So yeah, let's go over some of these indicators I like to use. And then we'll look at some trading patterns that I really like. So down here we have, our volume is typically on here by default, but you can get rid of it if you want. I recommend you keep it there because it's a very handy tool to kinda understand the strength behind the movement. So what do you do volume is doing is it's also kind of in candle format except there's no wig, it's just a body. And it's going to show you the total amount of trades that occurred during that timeframe. Now, what time frame are we talking about? Well, we're on the daily, so it's showing you how many trays occurred during the daily. And if it's green, that means that the price move upwards. If it's red, that means the price move downwards. So why is this useful? Well, can give me an idea of how strong a movement is. You can see right here, a lot of people were selling, there's a lot of cell volume. And then over here there's not a lot of BAD volume even though there's a breakout. So what's going on here? And we can also see that volume has kinda been decreasing over time, which means traders are not training as much as it used to you. And this can kinda be a general idea of when you can expect a breakout, I typically look for volume to bottom out and typically when volume bottoms out like around here, you can see how volume has steadily declined. I can use a trend tool to kinda show you guys how it's gone down here. You can see that volume has bottomed out and you can see it got to its lowest point here. And then you can see how it's made of recovery. There's a, there's a breakout here and the price went back up. So that's just kind of one way you can use volume or perhaps you see a breakdown. You're like, hmm, there's not a lot by volume, even though it's broken passes resistance. And one thing I forgot to mention with support resistance is once you break passive resistance level, that resistance level becomes support. And if you break through a support level than that support level when I'll become resistance. That's just kinda how it works. That's just how psychology of the human mind works, I guess. So that's just things you want to keep in mind while you're trading. So that's very much volume. You'll find ways to make it work for you. Let's look at some other tools that I really like to look at. So let's take a look at ATR, your day trader, you're probably using ATR, Average True Range. I don't use this too often because I'm not doing a lot of day trades. I'm not looking for stop losses. I'm here just to accumulate more crypto. But if your day trading HER can be your friend because it's going to show you the average move of that acid during a time frame. So if you want to calculate your risk, a good way to do it is by dividing your ATR by the price that you entered in it. And it's gonna give you a percent ratio. So if you do, and I can type this up for your free guys if you want to calculate risk. Risk equals ATR divided by the price you entered that. And that's going to show you the maximum amount that you could probably lose during that trade. And then you'd probably say your stop loss at that ACR. So if you want to set your stop-loss so that we went over that we were going over the exchange. You can say your stop loss or the stop limit order. You can put your stop at the price that you entered at minus ATR because if it goes below that, HER just want to cut it short. You know, it's not supposed to move that much. Just it's probably going to continue dipping. Just exit the trait because you didn't expect it to go that low. But you also want to give yourself room for it's a dip a little bit so you don't exit the tree too early because it might recover back upwards. So that's why you would use the ATR. And then if you wanted to calculate your profits, you could do. Profits were equal. The price that you sold at divided by the price that you entered at. This is going to give you a nice ratio. So you're gonna get a percent from this, a percent from your risk. And then if you do. Profit divided by risk. You're gonna give yourself a ratio and that ratio is, is up to you. I personally prefer a four to one ratio for every dollar on risking. I like to make $4 in return. So if I'm not confident I can make $4 off that $1, I wouldn't even enter the trade. Some people look for two to one, some people look for three-to-one. I prefer I prefer four to one. That's just me. But you can adjust these numbers to fit your personal risk tolerance. And that's just kinda recommend how I do it, how you should do it. But like I said, everyone does technical analysis differently. You do it how you want to do it. So we'll just leave this here for you guys to look at as you want. So that being said, I don't use ATR too much. I like long-term trading. So let's go back to our indicators here and take a look at some other useful features. So I'm going to open both about ones because I really like these. So I'm going to open up the Mac D, and I'm also going to open up RSI. I was gonna give me two things that look really complicated. It's not complicated. So we ever make to you here which are moving average convergence, divergence. And you're going to see two lines on this. And it's not. And then some like some green and some red here. Some, some movements. You can say, well, this is really showing you is the MCAT dieline and the signal line. So our Mac D line is here in blue and our single line is here in orange. So what the MAC D line is, is the 26-day moving average minus the 90 and moving average. And it's going to give us this line here. And then we have our signal line, which is the nine day moving average. And this is going to go into give you your buy and sell indicators. So if the MAC D line is above the signal line, that typically means there's an upwards movement that you should buy and it's reflected by these hills here. You can say these movements here, and you can see where the peak of the movements kinda had been. So yeah, now if the MAC D line crosses below the signal line, that's a cell indicated that means the price is probably moving downward. So let's look at some good examples of this. We can go right up here. We can see that the MAC D line right here crossed above the signal line, which is a Beinecke or so people, traders are probably buying in somewhere around here and you can see how this worked out for them. The price went upwards. Now it kinda looks like it's peaking out. So people started selling around here because now it's about to give a cell indicator where the MAC D line is about to fall below the signal line. So people started selling here. And you can see that the price went down. And yeah, that's pretty much how these indicators work. It's quite simple. Now, the Mac dieline enough isn't enough to justify making it trade. You want to look at what are the patterns seeing, how did these patterns typically play out? And most importantly, I like to look at the RSI and the mcdr SI strategy is pretty much all I ever use my training combined with patterns and such, because it's such a strong combo and it's really all you'll ever need to use. So with the horizontal here is the relative strength index. Well, this is showing you is the acid over bought or is it oversold? And it's going to do this by putting you on a scale from 0 to a 100, with anything from 70 to a 100 being over bought in anything from 30 and below being oversold. Now if something's over bought, that means is, I typically like to find some kind of equilibrium, right? So things are over bought. Traders are going to start selling it and that's going to force the price downwards. So we can see that it was over bought here, people started selling and that's why we have this dip here. Now it's coming back into this over bought territory. Doesn't necessarily mean the price is gonna go down. It just means that it's over by and you might be paying more than what it's really worth right now. And you can see in the past how things can typically stamp there for quite some time. So that's just one way you can use it in combination with the Mac. Nice. So yeah, it's over BAD, but the Mac D hasn't given a sell signal yet. So this is something that you look at. Alternatively, I like to just wait to the RSI bottoms out. Now the assets oversold, people are gonna start buying it. That's going to force the price upward so that people who are buying when this acid was oversold here on the, yeah, they made some money here but it went down a little bit. But people who continue to like, like dollar cost average themselves in with RSI bottomed out. Long-term, they're doing pretty decently. Had to move back upwards. But yeah, the price typically moves back up when it's oversold. And you can see that it's oversold here. And there was even a bicycle here. And so people probably bought in because both of these are telling them the bias oversold. And it's also given a bicycle in Act III, so people buy in and they wait and see, and you can see that it had been a movement upwards. So that's how I like to use the Mac D and RSI and how these indicators work, it's really just based on math and you just have to trust the math. And you'll just see if these indicators work for you. You don't have to use the indicators, but I personally prefer them and I want to show you guys. So I always leave these two other when I'm trading versus these are the two that I really use a lot, so I just keep them open the entire time. The last thing I want to show you guys, and maybe I should've mentioned this first is our exponential moving average. Now, these are going to give you a multitude of lines and you've probably noticed them since the start of the video. We have our 20 day moving average or exponential moving average, are 50 day exponential moving average, or a 100 day exponential moving average. 200-day exponential average. Well, these basically do is give you indicators. They're even think of these as your support and resistance levels that kinda move with the price because they're, they're basically the average of the price during a given time frame. So this exponential moving average here, It's basically the average price of the asset during the last 20 days, that period or whatever. So the greater the timeframe, the greater the lags going to be, as you can see, because, you know, 200 days is a long time. It's taken into consideration some prices down here and up here, and it's averaging it to get around down here, right? So the longer the timeframe, the stronger support it is considered to be. So and the shortest time-frame the weaker supports continued to be. So you can kinda see how the price has risen with the exponent, exponential moving average, but sometimes it dips below a little bit, right? And you can see that this 50 day exponential moving average is quite a bit stronger. It's typically recovered from this 50 to exponential, exponential moving average, or 50 day EMA want to say EMA to make things easier. And, you know, when the crypto market kinda gets hit, you can take down even lower. And you can see that traders are actually falling in at a 100 day EMA, not right, because that's pretty strong supports if people bought in the price recovered, but it continued to divvy them more and it broke through the 200 day EMA, which is not a good sign. That's typically a bearish indicator right? Now this 200 day EMA is going to serve as resistance because remember, if you break through support or resistance, it's going to flip flops, going to change sign. So we broke through the 208 EMA. Now it is resistance temporarily at least because it just broke for you can see that we had a movement, broke through the 200 day EMA and then landed back on it and it rebounded. That's kinda how support resistance works. So yeah, cool indicator, I always use EMA. Now, the alternative is the moving average, which is basically the same thing as the EMA, except it doesn't place higher weight on recent data. So with the EMA, it's gonna place a higher weight on. That's why it's called exponential moving average because it's going to put higher weight on the more recent data. So it kinda gives you more accurate readings, you could say. Whereas the MA, it doesn't do that, the moving average doesn't do that. And you can pretty much go up here and look up what you wanted. You could do MA, as you're moving average. We're going to e-mail which I like. I use this one right here at some of the great, That's what I like to use. But it's really personal preference, whichever one you want to use. But in terms of technical analysis, that's pretty much all the indicators and tools that I ever use. Okay, So the last indicator that forgot to show you, so this would mean the future coming back to show you a cool indicator that also like to use is called the Bollinger Bands and ignore all the stuff I drew. I don't remember if I drew this earlier, not but anyways, we're gonna, it's gonna show all these bands. These are called the Bollinger Bands. And while this was going to do is show you kind of the volatility of the asset right now. And these are great because typically the price bounces in-between the bands, right? So you're always going to want to buy towards the bottom of the bands here. If you're looking to light by the dip and dollar cost, average yourself into positions. But yeah, so how can use the Bollinger Bands help you out? Well, you're gonna want to buy towards the bottom right. But they can also kind of get an idea of what the movement's headed. You can see that over here, we've kinda just going glued to the bottom Bollinger Band, right? It's kinda dipped outside a little bit. That's typically a strong indicator that this is a strong movement. So if the price is kinda just glued to the outside of the Bollinger Band, you can expect the price that you beyond that way for some time as kind of what happened to you, you kinda see it give stuck to it and then just went down, right? And then we can also see that here. It went up here to the top and it just kinda went up. And now it's kind of retrace down a little bit and just kinda hit the top again or what not, uh, might eventually come back down to meet this bottom Bollinger Bands somewhere. But yeah, another thing to know with this is there's going to be constricting of movements and closing the widening. Typically when you have a constricted movement, that means there's not much volatility and is likely to be a breakthrough. So you can kinda see how is a widened here and then it's constricted. And then we have the breakthrough where a widens again. So that's just kind of one way you can use it. Kind of see where there's going to be some kind of price movement. And then also when you see super wide price movements or whatnot or a super wide bands, that can also be an indicator that there could be n to the current trend. So what do I mean by that? Well, you can see the price moved up here. And now we've kind of seen the widening of the band right here. And that means that, yeah, maybe it's not really going to go up anymore and did not go up it reverse downwards. So that's just something you can look for. You can see there's a wanting of the band here. Price did go downwards, constricted a little bit and just glues the top and move to the top. So that's kinda how you can use a bond your best to help you. I like this using a combination with Mac D, RSI, all the other indicators or your patterns. And that should give you a better idea of what you're doing while trading already. So now let's go ahead and take a look at some trading patterns you should familiarize yourself with, because these are going to appear pretty often and they can give you a general idea of where the price is going to be going. So these trading patterns were made from the emotions of other traders. They're going to be buying and selling at prices they deem fit. And that's typically going to create some pretty predictable patterns. And you can take advantage of this if you can recognize them and make trade properly. So that being said, these patterns are going to reflect the emotions of other traders and also give you a general direction of where the price could be headed. You're going to notice here that there's going to be periods of consolidation in each of these patterns where the price is just kinda trading sideways or up or down slightly, but it's not making any strong moves and that's where traders just have some disagreement. There are unsure of where the price could be headed. So you have different parties buying and selling, which is kind of treating these up and down movements, which are really going in any direction. There might be a slight downtrend or slight uptrend or maybe even trading sideways, but it hasn't really made up its mind in picture direction to go yet. Once these traders agree on what the asset is worth, whether it's worth more or less than the price will move sharply in that direction. And lastly, you need to understand that none of these patterns or for certain, just because you see a pattern, doesn't necessarily mean that the price will go that way. So make sure you use all of your other indicators and see what's going on with the news and insurance a project you believe in, because sometimes the price may not go the way you expect, but it's just another piece of evidence you can add to your collection of evidence to where the price you think could be headed. All right, so let's go ahead and jump straight into it. So there's three different patterns that you're going to want to recognize. There's what I call bullish patterns in which the price will typically go up. Some bearish patterns in which the price will go down. And reversal patterns, which kinda show you when you're at the peak or the bottom of the movement. So for our bullish patterns, the first one to note here is what is called the bullish flag. Now why is it called the bullish flag? Well, because you have a pole and the flank section and it kind of looks like a flag when you draw it out on the charts. So what's going on here is you're going to have a sharp increase in the price of period of downtrend consolidation. And then after this period of consolidation and the price will shoot back up again. So that's kinda what you're bullish flag looks like. And what's probably going on here is the price is going up. People are buying it a lot and then it hits kind of a roadblock that resistance lot. And people are kind of unsure of where the price is headed. So they start selling the price kind of traits sideways and downwards a bit as bulls loose support. But the bears don't have enough momentum to really push the price back down. So people start buying in as if it's the dip and it's going to force the price back upwards. That's kinda like my own little theory on what's going on here. The next pattern we have here is what we call the bullish pennant. And it is very similar to the bullish flag, except the only difference is these converging support and resistance lines. You can notice with the bullish flag that they're going to be kind of parallel to each other, but not necessarily, but with the bullish pennant they're converging. And what this kinda tells you is that traders are kind of narrowing it down to what the acid is really worth. And about two-thirds through this triangle movement here, there's typically going to be some kind of break out. And what the bullish pennant in this case upwards. So you're going to have this original upwards movement, this downtrend consolidation with converging support and resistance. And then another movement in the upwards. So what the bullish flag and the bullish pendants, how much higher can you expect the price to go? Well, typically, the movement upwards is going to be equal to the pole. So you can just measure the poll, how, how much the price increased, and then just kind of draw it on top of the resistance. Long war broke out and that's going to give you your next price target. And you also might be wondering, Well, how long are these timeframes? How long these timeframes do you got to look for? It can really be anywhere from a few hours to a few days. So you just gotta kinda scroll out and so you see one. But typically about two-thirds through the triangular consolidations, little harder. So at the bullish flag, you're going to notice some kind of break out. And you might also notice that bullish pendants are typically going to break out much faster than a bullish flag might. So the next pattern we have here is called the cup and handle. Why? Because it kinda looks like a company handle. So what's happening here is you're going to have a price increase is going to hit this resistance line. And there's going to be this U-shaped consolidation is literally going to look like a U with the price. And it's going to hit this resistance line again. Now instead of immediately going up from this resistance, you're going to see this slight downtrend consolidation before it hits some kind of support and takes back off again. So when you see this pattern here, you know it's going to be bullish. You have this U-shape consolidation, which is called the cup, and then this downtrend consolidation is called the handle. Once you see the candle, you kind of have an understanding that you're in a company handle