How to Use TradingView

Tradingview is one of the most popular platforms for technical analysis among crypto traders. Tradingview will be very useful for all levels of crypto traders. because basically tradingvie is a platform to help traders to analyze crypto prices through charts,

What is Tradingview?
TradingView is a one-stop trading platform that provides information in the form of price charts of crypto assets obtained through various crypto asset trading markets.TradingView combines real-time charts, technical indicators, cross-platform alerts, and social networks. All of these services are available and can be accessed through the website, desktop application, or mobile and tablet applications. Many traders and technical analysts are taking advantage of TradingView's many features to create an environment that should allow users to make informed decisions and trading strategies in depth. When a user displays a chart for a particular crypto asset or stock, through the tradingview platform the user can also view news relevant to that asset.

Is TradingView paid?
If you use tradingview with a free account, the available features are very limited. There are three paid accounts that users can choose from, such as: Pro Account USD 14.95 per month, Pro+ Account USD 29.95 per month, Premium Account USD 59.95 per month

How TradingView Works
You can get started by registering and learning TradingView with a free account first, connect access to the TradingView community, and learn the basics of chart features available to create market indicators. You can find the TradingView feature on the homepage.
At the top are tickers to show trading pairs, such as EUR/USD, BTC/USD and ETH/USD. In addition there are also the Dow, Nasdaq and S&P 500 markets. You can also search for any stock and filter through the Ticker, Trading Ideas, Educational Ideas, Scripts, or People tools. Not only that, you'll also find the latest posts uploaded by top crypto asset writers, current market summaries, latest stock news, economic calendar and crypto asset trends on TradingView's social media section.
can also read various opinions expressed by other users (including well-known traders), and you can also share your ideas and opinions about trading and investing. The social media aspect of TradingView can add enormous knowledge.

How to Use TradingView
TradingView will provide a variety of conveniences for traders and investors alike, which will help you to get a clearer picture of the performance of a crypto over a certain period of time, from one second to several years. Users can view open, high, low, and close (OHLC) data via each candlestick chart on the selected time scale. Not only that, users can also find out the current bid and ask prices and spread values, countdown to the next chart update, and other data information.
To find out how to use TradingView to help you determine the right strategy for trading, you can find out about the various tools and their roles below.

Types of toolbars and their roles
The toolbar on the far left includes the entire set of technical indicators that can be plotted on a chart. From the simplest trend lines to complex Fibonacci retracements and ratios. In addition to the price prediction indicator instrument, this toolbar provides various features that can help you to mark charts. Like icons, highlighters, etc. All of these features can certainly help you make more informed trading or investment decisions. It can also help visualize your thoughts on market conditions which you can share with the TradingView community. The toolbar at the top features the ability to switch graphic types and various overlays. You can also use it to compare the performance of certain assets with other assets (for example, BTCUSD vs ETHUSD) or implement complex indicator scripts by selecting them from the default library or the general library, consisting of other user scripts. The panel located below the candlestick chart can be used to trade the selected asset. In addition, there are options for paper trading or direct trading through brokers verified by you as a user. Paper trading is a simulated real-time trading with hypothetical money to test strategies without risk. This panel also provides backtesting trading strategy options. Finally, the toolbar on the far right contains the social networks of the TradingView platform. On this toolbar, you will find news relevant to the selected asset, asset hotlists, public and private chat rooms, watchlists, and much more.

What is FUD and FOMO

 

In the crypto world, the terms FUD and FOMO are very well known and must be known by investors, so they are more careful in managing cryptocurrencies.This blog also provides a test, are you one of those people who are easily influenced by FUD and FOMO, you only need to answer simple questions honestly.

What is FUD?
FUD is an abbreviation of Fear, Uncertainty, and Doubt, or what is often a pun as Facts U Dislike. Fud is often created and used by investor whales to lower the price of a crypto, so that investors can buy crypto at a low price. In order to cause FUD these big investors spread news that can cause fear and doubt to novice retail investors, these whales also sell some of their crypto so that the price goes down, novice investors think that crypto prices will really crash, so they rush into it. hurry to sell their crypto, then the price of crypto will drop even more, the price of crypto will drop to what the whales want, and this is when the whales buy crypto in large quantities. Experienced investors will be quick to respond if there is a FUD spread, they will remain indifferent, and keep their crypto HODL, or not sell it and just have to wait for crypto prices to return to normal.

What is FOMO?
FOMO stands for Fear Of Missing Out, or the feeling of fear of losing the opportunity to get big profits, so novice investors flock to buy crypto. FOMO is often used on new coins/tokens, or old crypto that is less well known but suddenly the price goes up, usually whales or through influencers tweeting on social media, they (whales) also buy large amounts of the crypto they are promoting, so the price really go up, of course there will be many new investors flocking to buy the crypto, After the crypto price reaches the height desired by the whales then suddenly the whales sell their cypto in large quantities, so the whales will make a big profit.

What can be done to avoid FUD?
To avoid FUD, when crypto prices fall, we need to look for valid news from various sources, so we will get deeper information about a crypto and need to do crypto price analysis, Don't panic and rush to sell all the crypto we have at low prices.

What can be done to avoid FOMO?
You can avoid FOMO by analyzing and calculating the risk of every time you buy a crypto (coin/token), thus avoiding buying crypto at a price that is too high. For example, if you believe an asset has a bright future, but it is already too expensive. Don't put all your money in at once to buy the asset at the high point. Because it is possible that the price of these assets can fall.

From the explanation about FUD and FOMO, it can be concluded that investing, especially in cryptocurrencies, cannot be done based on emotion alone. From the two terms above, you can learn to avoid trading based on fear. If you start to see FUD, study price analysis again and adjust it to your trading strategy. Then if there is a sense of FOMO when a coin looks like it has potential, re-study the chart of the coin and throw away emotions when trading.

Why Are Cryptocurrency Prices So Volatile?

 

1, Markets are narrative driven.
Cryptocurrencies do not generate returns like equity instruments that have revenue and profit data. The value of crypto assets cannot be estimated through ordinary capital market approaches such as through a company's financial performance or traditional fundamental indicators such as the price to earnings ratio. What happens is, the price of crypto assets is strongly influenced by certain narratives or news. For example, the rapid increase in the price of cryptocurrencies in 2020 was driven by Elon Musk's tweets on Twitter and his views on crypto assets.

2. Trading volume on crypto asset exchanges cannot be measured,
while on-chain size data cannot explain the actual conditions of the crypto market. The crypto market is formed from a network of diversified exchange platforms and providers rather than one centralized exchange. As a result, each crypto-asset exchange platform has different crypto-asset prices from one another. In other words, cryptocurrencies do not have a single price. This is different from the conventional capital market, where data on prices and volumes of securities traded clearly correspond to activity on the stock exchange. Investors also have difficulty measuring the trading volume of crypto assets because the on-chain volume data of a cryptocurrency does not reflect the total trading data that occurs across all crypto asset exchange platforms.

3. Momentum and volatility occur when the market responds to the trading algorithm.
In theory, cryptocurrency prices between crypto trading platforms do not differ much from each other due to the presence of algorithm-based trading in them. However, in reality, using algorithms for trading can make prices move drastically. For example, a decrease in the price of a crypto asset will trigger a “sell” action if the trader places an automatic sell at that price level. Unfortunately, this event will also be read by other market participants as a sell-off, so other traders will be too talkative by selling their crypto assets.

Factors Affecting Crypto Prices

 

Although the main factors that determine the price of crypto are supply and demand factors, there are several other factors that determine the price of crypto. Here are other factors that influence the volatility of crypto prices.

1. Monetary Policy and Tokenomics
Crypto supply greatly determines crypto price movements, so it is necessary to manage crypto supply which is known as "Monetary Policy", while its impact on crypto investors is known as tokenomics. To determine the number of coins/tokens in circulation, each coin/token has its own governance policy. In a crypto case, governance can be determined through voting (based on the number of crypto holdings), or using a centralized method, through a special crypto management board tasked with controlling the crypto supply. Some crypto developers, through their special board choose to burn crypto to reduce the amount of crypto supply in circulation. Like Ethereum, Binance Coin, Shiba Inu etc.

2. Production Cost
Crypto mining activities require mining costs, ranging from computers, mining hardware, air conditioners, electricity costs etc. All mining fees will have an impact on the crypto price.

3. Demand for Blockchain Technology
The demand for a crypto asset will soar if the crypto community takes advantage of the blockchain technology which is the home of the cryptocurrency. This happens because the fees for using the blockchain are paid using the blockchain's native cryptocurrency. So the demand for cryptocurrency will be in line with the increasing use of blockchain. There are various reasons why the crypto community swarms over a particular blockchain technology. Usually the three main reasons are better transaction scalability compared to other blockchain technologies, the emergence of new features, and the low transaction costs of utilizing the technology.

4. Mass Adoption of Retail and Institutional Investors
The massive increase in the use of the coin will lead to a strong price increase. This is because most cryptocurrencies have a limited supply, so an increase in demand will certainly raise their price. It's just that, to be mass-adopted, cryptocurrency must have clear benefits in the real world, for example, it can be used as a means of everyday payment. Cryptocurrencies such as Bitcoin have been adopted by institutional investors as a store of wealth. Hence, the price had increased and reached the point of US$ 60,000 per chip in early 2021. In addition, El Salvador also plans to use Bitcoin as an official means of payment in the country. Meanwhile, the pattern of cryptocurrency adoption by retail investors forms a bell-shaped curve, as shown in the following figure. Only 150 million individuals in the world hold crypto assets. When compared with the world population of over 6 billion, it can be said that the adoption of cryptocurrencies in the world is still in its early stages.
Both retail and institutional investors are starting to look to the long-term value of cryptocurrencies. The rapid increase in the prices of several crypto assets in 2021 is proof that the strong demand from institutional and retail investors continues to increase the demand and prices of cryptocurrencies. In addition to supply and demand, global macroeconomic conditions also have a strong role in influencing the price movements of crypto assets.

5. Fiat Currency Inflation (USD)
The price of crypto assets, especially coins that have clear uses, should increase amid moves by global central banks to continue to print money and implement low interest rate regimes. This can happen because the characteristics of the supply of fiat money are different from those of cryptocurrencies. The supply of crypto assets is fairly limited, so people should switch to this instrument if the amount of fiat money in circulation increases. It is important to remember that Bitcoin was created in response to the massive printing of fiat money (USD), which was being done by central banks around the world to deal with the global financial crisis. This move is likely to be repeated in every economic recession where policymakers have no choice to stimulate economic growth other than cutting interest rates or printing more money. 25% of the US Dollars in circulation today were minted in 2020. In addition, owners of crypto assets also now have the opportunity to profit from saving crypto assets by obtaining higher returns than saving in conventional banks. Now, this can be done along with the widespread use of decentralized financial applications (DeFi). High yields and tight inventories make crypto assets useful as hedges against inflationary scourges caused by printing money.

6. Government Regulation
A series of government regulations can affect the demand and supply of crypto assets. This condition can occur because the government has the authority to regulate, tax, or even prohibit cryptocurrency activities, which will usually lower the price of crypto assets. Crypto investors not only need to understand crypto regulations in their country, but also need to observe how the United States regulates crypto in their country.

7. Momentum
Like any other financial market, the price of crypto assets is determined by speculation. Retail traders, institutional investors, and global hedge funds have different views on market conditions and these differences can affect the price of cryptocurrencies. Price movements in the crypto market can be very fast and wide. This happens because many traders are using algorithms in exchanging cryptocurrencies. If the crypto price penetrates a certain point, the algorithm system will execute a buy or sell action. This action will then trigger the actions of other traders where their actions will then also affect the movements of other market participants. Since market participants tend to find it difficult to judge the price of crypto through fundamental aspects, attention is then directed by horrendous issues and news or calls to buy or sell by crypto advocates. For example, the price of crypto can crash when a crypto asset influencer, such as Tesla retainer Elon Musk, posts a tweet or creates a meme about cryptocurrency on his Twitter account.