Crypto charts can help you strategize, spot investment opportunities & improve performance. Get analytical with the best crypto charts for traders in 2023. 📈💰
Crypto trading charts are visual representations of the price movements of cryptocurrencies. These charts can help investors identify patterns and trends in price movements to help them make more informed trading decisions.
There are different kinds of charts, but candlestick charts are generally the most popular among crypto investors - and that’s the charts we’ll be looking at for our best crypto charts for 2023.
Skip ahead if you want to learn how to read crypto charts instead.
The best crypto chart depends on your budget, portfolio, and experience. That’s why we’ve rounded up the 5 best crypto charts for you to pick from:
TradingView is the market leader when it comes to crypto charts and one of the best crypto charting tools for both traders and investors thanks to a comprehensive and user-friendly platform. Key features include:
TradingView offers a wide range of tools and features to analyze markets and track price movements - far more than we could list here! The platform provides users with real-time data on many markets, all of which are completely customizable, and you can save them for later.
One of TradingView’s stand-out features is the community. Users can trade ideas, help educate each other, share scripts to create custom trading indicators and strategies, and watch live streams from professional traders and investors.
Coinigy is a crypto charting tool specifically, and while it doesn’t come free, it’s a powerful tool that can offer valuable insights and analytics into the crypto market from more than 45 exchanges.
For investors new to charting tools, Coinigy may be a good choice due to its intuitive interface. The platform provides users with a simple and user-friendly dashboard that allows them to track their portfolios, view market trends, and execute trades with just a few clicks.
And for those worried about the safety and security of their crypto assets - Coinigy follows best security practices. All user data is encrypted with AES 256-bit encryption, every request goes through a verified and secure SSL, 2FA with TOTP is supported and every login is timestamped by an IP address with an authentication email.
CryptoWat.ch is a comprehensive and user-friendly cryptocurrency tracking platform that allows users to monitor the prices and trends of various cryptocurrencies across multiple exchanges.
The platform offers real-time market data, customizable watchlists, and advanced charting tools, making it a valuable tool for active traders and investors in the cryptocurrency market. As well as this, the pricing plans are rather generous - with all the core features entirely free of use, all you need is an account.
Security-wise, CryptoWat.ch has all the features you’d hope including multi-factor authentication (TOTP and U2F), and the platform is owned by Kraken, which has an excellent track record for protecting users' assets.
GoCharting is a powerful multi-asset charting tool for traders and investors, offering valuable insights into multiple markets including crypto.
Although their crypto charts can be used worldwide, GoCharting has a particular focus on US and Indian markets and offers many premium features for users trading in traditional markets like forex, stocks, and more.
The platform also offers an academy to help novices to crypto charting learn how to best utilize the platform to get the data they need to make more informed decisions. As well as this, the platform offers paper trading to help users trial their investment strategies before going live.
GoCharting isn't just for novices though - experienced investors will enjoy the Options Desk - a powerful tool that helps options traders build, trial, and execute strategies.
CryptoView is a crypto charting and trading tool that lets users strategize and exchange all from one platform.
CryptoView utilizes charts and tools from market leader TradingView, including more than 85 technical indicators and 75 drawing tools. Other features include multi-screens, a news aggregator, an events calendar, support for all sub-accounts for supported exchanges, shareable portfolios, and in-browser, email, or SMS alerts.
When it comes to security, CryptoView offers enterprise-grade security with cloud architecture, SSL encryption, API key encryption, and DoS protection.
Although CryptoView isn't free after your initial trial, all subscription plans cover the entire range of core features.
To the untrained eye, crypto trading charts look intimidating, so let's learn how to read crypto trading charts - specifically, candlestick charts as they’re the most common and complicated!
Depending on the crypto charting tool you’re using, the features may vary a little, but they’ll all share some common ground. For starters they’ll look something like this:
So, what are you looking at?
Each 'candlestick' - that is, the vertical bars in red and green - is a set of data relating to the price of a given asset, over a given time frame. The colors represent whether the price was trending upward or downward:
Every candlestick on the chart is made up of four pieces of data:
There’s a lot of jargon around candlesticks, but here are the basics:
As you can see in our example above, the length of candlesticks vary - a lot, from long to short. These different lengths and the patterns traders can spot in them, can indicate market trends and potential investment opportunities.
There are a few factors to consider here, so let’s break them down.
The body of the candlestick shows the difference between the open price and close price of a given cryptocurrency. The longer the body, the more drastic the change in price.
A short green body indicates a small price increase, while a long green body indicates a more drastic and fast price increase. This can indicate that investors are buying, as the prices are being driven up - however drastically.
Conversely, a short red body indicates a small price decrease, while a long red body indicates a more drastic price drop. This can indicate that investors are selling, as the prices are being driven down.
Patterns matter too. If the size of candlestick bodies are increasing over a period of time, the price trend is accelerating. Similarly, if the size of candlestick bodies are shrinking over a period of time, the price trend may be decelerating or coming to an end. In the middle of this, if candlestick bodies remain relatively constant in size, this indicates price stability.
Of course, every now and then there are sudden market changes. If there are sudden shifts in the size of candlestick bodies, for example, from long green candlesticks to long red candlesticks, this indicates a sudden shift in the market - usually due to strong market forces. An example of this would be following the collapse of FTX.
Wick length helps determine the volatility of a given crypto asset - in either direction.
The longer the wick, the more volatile the price. The shorter the wick, the more stable the price.
A long rising wick shows the price climbed rapidly that day, then dropped back down, while a long falling wick shows the price dropped rapidly that day, then climbed back up. Short wicks show the same trend but in a less drastic manner.
Volatility can happen in either direction - whether the price is increasing or decreasing. It’s understanding patterns or trends in the length of a wick and what they may indicate that’s important.
For example, a long rising wick may indicate an increased level of buying/selling high and potentially a peak, while a long falling wick may indicate an increased level of buying/selling low and potentially a bottom.
Meanwhile, short wicks tend to predict a healthier and more stable market. A candlestick with no, or a minimal wick, is a signal that the current market price is agreed upon by sellers and buyers.
Now you've got the basics of bodies and wicks, let's look at how to put it together.
Generally, the larger the body compared to the shadow, the stronger the trend. So, if you have a large green body with short wicks, you have a strong upward trend in price. If you have a large red body with short wicks, you have a strong downward trend in price.
You'll usually see a trend slowing down as the wicks begin to grow compared to the body. Small bodies with long wicks may indicate uncertainty about a price trend or a turning point in a price trend.
As well as this, the position of a body in relation to the wick(s) matters. A candlestick body may have both a rising and a falling wick, of varying lengths.
A body with an equally long rising and falling wick may show indecision and uncertainty in a market, but ultimately stability as the price has opened and closed relatively close. While a body with a wick skewed in a particular direction may indicate a price trend despite volatility.
Ultimately, the purpose of reading crypto charts is to identify bullish or bearish patterns and use this to inform your investment strategy and identify buy and sell opportunities.
There are many candlestick patterns that may indicate crypto bull or bear trends, including:
All this said it’s important to note that patterns are not predictions. Though we can look at historical data and patterns to better inform our investment decisions, it does not guarantee any specific result.
More questions? Here are some of the most frequently asked questions about crypto trading charts.
You can use a crypto chart to identify patterns that may help inform your investment strategy and help you spot buying and selling opportunities. But it’s important to note crypto chart patterns are not predictions. There is no guarantee of future price.
Yes! Although there’s a general idea that crypto investors just go on a gut feeling of what will go to the moon, successful crypto traders use a range of tools - including crypto charts - to help inform their investment strategy.
TradingView, CryptoWat.ch, CryptoView, Coinigy, and GoCharting all offer a mobile app, most of which you can download and trial free. Take a look at each to see which crypto charts app is best for you.
You can download the TradingView, CryptoWat.ch, CryptoView, and Coinigy apps from the iOS app store and trial most of them for free. The best one for you will be the interface you find the most intuitive.
TradingView’s social community is unmatched for learning content that can help everyone from beginners to experts learn more about how to use crypto charts for technical analysis. The platform offers live streams of professional traders, educational content, trading ideas, and more.
Day traders don't just use one crypto chart to inform their decisions and investment strategy. Rather, they use a range of tools and technical indicators, including crypto charts.
If you’re looking for a read-only access portfolio tracker, that’s secure and can even do your taxes for you - look no further. Koinly can help you keep track of your portfolio performance, including tracking realized and unrealized gains, and best of all, come tax time, Koinly can generate your tax reports for you. Sign up free today.