Killer Whale Crypto
October 11, 2021, 12:31 AM UTC
The TOTAL Chart is one of the most useful tools for cryptocurrency traders at any level. The TOTAL chart is a representation of the total market cap for every cryptocurrency combined. Learning how to properly use the TOTAL chart is an advantageous move for any trader!
The TOTAL Chart
In cryptocurrency trading, no chart is more important than the TOTAL chart. In this article, we will be discussing what the TOTAL chart means and how it is used. We will also discuss how the TOTAL chart relates to all of our Killer Whale Products!
What is the TOTAL Chart
The TOTAL chart represents the total market cap for every cryptocurrency combined. Although cryptocurrency made its first successful debut in 2009, the TOTAL chart did not appear until approximately 2014. That being said, the TOTAL chart has been a valuable resource for traders for the majority of the growth of every other cryptocurrency which exists today.
How the TOTAL Chart is Used
Traders use the TOTAL chart to determine the macrotrends of the overall cryptocurrency market. Identifying the overall trends within any market is the first step in the process of properly placing positions for individual assets. Understanding the overall price action of the market allows traders to accurately determine if the direction of the market is moving in either a bullish or bearish direction.
In the traditional Stock Market, overall market trends are usually the first thing traders consider when determining if it is more advantageous to place long or short positions. When the market is indicating a potential for bullish price action in the near future, it makes more sense to place long positions. Respectively, when the market is indicative of upcoming bearish price action, it makes more sense to place short positions.
The same concept applies to cryptocurrency, although cryptocurrency tends to express more volatile price action. For this reason, the TOTAL chart is incredibly useful for traders who are determining whether it is more advantageous to buy more cryptocurrency or move funds from trading accounts into reserve.
Killer Whale Products
Every Killer Whale product finds its roots within the TOTAL chart before the technical analysis moves on to more specific trade setups. Be sure to check out the Killer Whale Products Page to find the Killer Whale product that is right for you!