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Cryptocurrency is increasingly changing the way we do business by decentralizing all transactions.
Besides, Cryptocurrencies, digital currencies, such as Bitcoin, have increased in value tremendously against the US dollar in the last decade. And this implies investing in Cryptocurrencies is one of the most profitable decisions you can make.
To know whether to go short or long when trading Cryptocurrency, you need charts that provide you with insights timely and quickly.
Definition: These are currencies whose transactions are verified and records maintained by a decentralized system using blockchain technology.
You’ll agree when we say Cryptocurrency is a more secure alternative to physical currency, although it’s very volatile.
And for this, you have to keep an eye on related trends. 70% of the time, Cryptocurrencies are always volatile with no identifiable trend for trading.
Don’t worry.
This blog post will walk you through how to visualize your Cryptocurrencies’ price action data to forecast bullish and bearish opportunities.
There are charts you can use to complement the Candle Charts in most trading software, especially if you’re on the hunt for in-depth insights into past price action.
We recommend you try ChartExpo to extract actionable insights to guide your way into profitable trades.
This easy-to-use tool comes as an add-on for Google Sheets and an add-in for Excel spreadsheets.
Wait! That’s not all.
The Crypto charting software comes loaded with over 50-plus advanced charts to ensure you never miss critical insights hidden in your data. ChartExpo is easy to use for anyone looking for a powerful way to extract insights from Cryptocurrencies’ price action data.
Now you know the best tool to create charts for Cryptocurrencies. It’s time to learn the 10 best charts and graphs you can use to find bullish and bearish opportunities in the market.
ChartExpo is loaded with the top 10 Crypto-based charts you should try to increase your winning chances in Cryptocurrency trading.
Imagine you own a substantial amount of Litecoin. You want to compare the performance of this currency against its close peers in terms of transactions.
Remember, it’s the number of transactions that drive liquidity in Cryptocurrency markets.
In this scenario, we’ll use a Comparison Bar Chart. Let’s use the table below for our scenario.
Values used in this blog are estimated values for a particular year, purpose is to show the data visualization. You can replace these values with actual current values and draw the same charts on your own.
| Years | Cryptocurrency | Transactions |
| 2018 | Dogecoin | 29859 |
| 2018 | Litecoin | 20461 |
| 2018 | Monero | 5078 |
| 2018 | DASH | 13716 |
| 2018 | Cardano | 1204 |
| 2019 | Dogecoin | 27758 |
| 2019 | Litecoin | 18896 |
| 2019 | Monero | 6407 |
| 2019 | DASH | 17577 |
| 2019 | Cardano | 1410 |
| 2020 | Dogecoin | 34963 |
| 2020 | Lite coin | 60065 |
| 2020 | Monero | 14062 |
| 2020 | DASH | 29474 |
| 2020 | Cardano | 8232 |
| 2021 | Dogecoin | 52470 |
| 2021 | Litecoin | 110135 |
| 2021 | Monero | 20134 |
| 2021 | DASH | 32143 |
| 2021 | Cardano | 32291 |
To get started with the Crypto Chart, copy the table above into Google Sheets.
Imagine you’re interested in knowing Bitcoin prices have grown over time.
Which chart would you use to get in-depth insights?
If your answer is a Progress Chart, you’re right. The progress chart is one of the best charts for Crypto trading.
You can use this chart, especially if you’re tracking two metrics at the same time. In our case, we’ll visualize two key metrics of interest (current price and price growth).
Let’s use the table below for our scenario.
| Crypto | 2020 | 2021 |
| Solana | 1.5 | 168 |
| Monero | 160 | 256 |
| Polkadot | 48 | 35 |
| Binance | 37 | 417 |
| Litecoin | 132 | 166 |
| Filecoin | 22 | 67 |
| Cardano | 2.3 | 1.06 |
To get started with the best Crypto chart, follow the easy steps below:
Imagine you want to know the general trend of the Bitcoin price. Which chart would you go for?
If your answer is the Sentiment Trend Chart, you’re right. Let’s use the tabular data for our scenario.
| Month | 2020 | 2019 |
| Jan | 8702 | 3823 |
| Feb | 9906 | 3941 |
| Mar | 8899 | 3859 |
| Apr | 7704 | 4137 |
| May | 9156 | 5940 |
| Jun | 9526 | 7671 |
| Jul | 9346 | 11150 |
| Aug | 11675 | 11964 |
| Sep | 10531 | 10362 |
| Oct | 12991 | 9166 |
| Nov | 15708 | 7162 |
| Dec | 27038 | 7546 |
To use the best Crypto chart, follow the easy steps below:
Imagine you have major Ethereum market capitalization & price data for the past five financial years.
Essentially, you want to compare Ethereum market capitalization & price in each of the five financial years. In this scenario, we’ll use the Dual Axis Line Chart to extract critical insights. Why?
A Dual Axis Line Chart is best suited to visualize data for comparison insights. Let’s use the tabular data below for our example.
| Years | Price | Market Cap. |
| 2016 | 7.17 | 8.78 |
| 2017 | 717.26 | 3.19 |
| 2018 | 131.87 | 2.72 |
| 2019 | 132.63 | 9.8 |
| 2020 | 751.62 | 17.29 |
To get started with our Crypto Chart (ChartExpo), copy the table above into Google Sheets.
Imagine you have Bitcoin price data for the 2021 and 2022 financial years. You want to determine the profitability of the Bitcoin in question.
We’ll use a Radar Chart for our scenario.
| Years | Months | Price |
| 2020 | Jan | 9545 |
| 2020 | Feb | 8778 |
| 2020 | Mar | 6483 |
| 2020 | Apr | 8773 |
| 2020 | May | 9688 |
| 2020 | Jun | 9188 |
| 2020 | Jul | 11118 |
| 2020 | Aug | 11657 |
| 2020 | Sep | 10764 |
| 2020 | Oct | 13573 |
| 2020 | Nov | 18114 |
| 2020 | Dec | 28768 |
| 2021 | Jan | 34622 |
| 2021 | Feb | 46642 |
| 2021 | Mar | 58714 |
| 2021 | Apr | 53260 |
| 2021 | May | 35945 |
| 2021 | Jun | 35945 |
| 2021 | Jul | 41157 |
| 2021 | Aug | 47663 |
| 2021 | Sep | 41412 |
| 2021 | Oct | 54712 |
To get started with our Crypto Charting (ChartExpo), copy the table above into Google Sheets.
Bitcoin is incredibly profitable in the 2022 financial year compared to 2021.
Imagine you want to know how the market share of various Cryptocurrencies (Bitcoin, Ether, Ripple, Litecoin, and Monero) has changed over 3 years (2018, 2019, and 2020).
Which chart would you go for?
If your answer is Grouped Bar Chart, you’re right. Let’s use the tabular data below.
| Crypto | 2018 | 2019 | 2020 |
| Bitcoin | 48 | 53 | 66 |
| Ether | 16 | 11 | 8 |
| Ripple | 8 | 9 | 4 |
| Litecoin | 3 | 3 | 1 |
| Monero | 1 | 1 | 0.5 |
Imagine you want to compare Bitcoin prices and transactions across seven years. Which chart would you use?
Use Double Axis Line and Bar Chart to compare Bitcoin prices and transactions at same time.
Let’s use the tabular data below for our example.
| Years | Price | Transactions |
| 2013 | 744 | 134786 |
| 2014 | 309 | 174861 |
| 2015 | 424 | 207493 |
| 2016 | 952 | 246244 |
| 2017 | 13062 | 292987 |
| 2018 | 3689 | 262001 |
| 2019 | 7251 | 2899685 |
| 2020 | 28768 | 338444 |
To get started with the best chart for crypto, follow the easy steps below:
Suppose you own multiple Cryptocurrencies. And, you’re interested in buying more. One of the indicators you can use is the size of the market share.
Assume you already have data for the potential currencies you want to invest in. Which chart would you go for?
Yes, guessed right. The go-to chart for this scenario is the Donut Chart. Let’s visualize the data below using this chart for insights.
| Cryptocurrency | Market Share |
| Bitcoin | 52 |
| Ethereum | 20 |
| Binance Coin | 8 |
| XRP | 7 |
| DogeCoin | 6 |
| Others | 7 |
Bitcoin commands a whopping 52% of the market share, followed by Binance. The Cryptocurrency with the smallest market share is Dogecoin.
Suppose you have market capital data of all major Cryptocurrencies. You want to identify the 20% of the currencies controlling 80% of the overall market share.
Which chart would you use for this scenario?
Yes, you guessed right. Pareto Diagram is the go-to chart for the task (above). Let’s use the hypothetical data below for our scenario.
| Cryptocurrencies | Market Capital |
| Bitcoin | 133.3 |
| Ethereum | 49 |
| Ripple | 24.7 |
| EOS | 7.2 |
| Litecoin | 7.1 |
| Cardano | 5.4 |
| Steller | 4.4 |
| NEO | 4.3 |
| IOTA | 3.8 |
Bitcoin and Ethereum form the top 20% of currencies controlling a whopping 80% of the total market capitalization.
Imagine you want to know the number of people owning Cryptocurrencies in various countries of your interest.
Which visualization would you go for?
This is where the Ordered Squares Chart comes in. Yes, this chart provides high-level insights, irrespective of the complexity of your data.
Let’s visualize the data below using the Ordered Squares Chart.
| Countries | Owners Count |
| USA | 27491810 |
| Russia | 17379175 |
| Nigeria | 13016341 |
| Brazil | 10373187 |
| South Africa | 4215944 |
| UK | 3360591 |
| Turkey | 2476418 |
| Germany | 2191986 |
| France | 2179654 |
| Japan | 2079653 |
| South Korea | 19442933 |
The US leads in the number of Cryptocurrency investors, followed by South Korea. On the other hand, Japan and France have the lowest number of investors in digital currencies.
Do you remember the 2008 global economic crisis?
Between 2008 and 2009, the global economy experienced one of the worst recessions since the 1930s. Millions of people across the world lost their jobs. A host of high-profile companies, such as the Lehman Brothers, went bankrupt. Others, such as General Motors, received bailouts from the Federal government to survive the economic meltdown.
One of the factors that caused the whole world to experience recession was the centralization of the currencies.
This means inefficiencies by the Central Banks and miscalculations by major financial institutions resulted in a systematic collapse of the global economic system.
In 2009, Satoshi Nakamoto, a person whose identity is still secret, created the first Cryptocurrency, Bitcoin.
Many believe Nakamoto intended to create a new way of payment that could be used internationally, decentralized, and without control from financial institutions.
Essentially, he intended people like you and me to be spared in the next global recession.
Cryptocurrency is a type of payment that can be exchanged for goods and services online. A host of Crypto firms are increasingly coming up with tokens to attract investments and usage of their coins.
Cryptocurrencies operate on blockchain technology.
So what is blockchain?
Blockchain is a decentralized technology that manages and records transactions across many computers. The security of this technology is part of Cryptocurrencies’ allure.
Cryptocurrencies, such as Bitcoin, are becoming popular. Why?
These currencies provide you with an outlet to grow your wealth beyond the traditional barriers, such as national borders and government restrictions.
People who invested in Bitcoin early on have amassed substantial fortunes, and the concept of using these currencies is gaining traction.
In 2017, Cryptocurrency emerged as a significant player in the international economy, affecting every aspect of the financial world, including e-commerce businesses.
The key to trading Cryptocurrencies is knowing when to buy/sell and when to exit a trade.
Yes, you read that right.
And for you to identify trading opportunities, you have to sift through past price action data to predict an opportunity or loss. Visualization is really crucial in analyzing price action data as it saves time.
How?
Charts and graphs (which we’ll discuss later) distill signals from noise faster than tables. So you can easily pick out potentially profitable trends using advanced charts in Crypto charting tools.
With the surge in Crypto data daily, making sense of the quintillion bytes of data is impossible without reliable Crypto charting software and tools. You need charts that are easy to interpret and insightful to forecast opportunities and risks when trading Cryptocurrencies.
It turns out there’re other advanced charts besides the typical Candle chart in the trading terminals that can paint you an accurate picture of whether to buy or sell your Cryptocurrencies at the right time.
Yes, there’re Crypto charting software graphs that are easy to interpret and provide you with in-depth insights into the price action.
We recommend you to try ChartExpo as your go-to Crypto charting software because it integrates seamlessly with Google Sheets and Excel as a third-party add-on.
Besides, it comes loaded with the top 10 Crypto charts, such as Bar, Progress, Pareto, and Ordered Squares Charts.
Cryptocurrencies, such as Dogecoin and Bitcoin, are fast, digital, and secure, which means you can do business and move investments easily without restrictions.
These digital currencies are decentralized to protect investors from monopoly-driven inefficiencies, such as the 2008 recession brought by central banks.
The day traders should focus most on intraday time frames, such as 4-hour, 2-hour, and 1-hour charts for accurate analysis of the Crypto markets.
On the other hand, long-term traders are recommended to use daily, weekly, and monthly time frames, especially if their goal is to get the macro view of the market.
Visualizing your Cryptocurrencies’ price action data does not have to be stressful or even consume your valuable time.
Besides, if you’ve outgrown the basic spread charts (offered by Google Sheets), try Crypto charting software, such as ChartExpo.
ChartExpo is a third-party add-on you can install in your Google Sheets to access advanced charts to visualize price action data.
Besides, this tool is incredibly easy to use, produces insightful and straightforward charts, and has 50-plus advanced charts.
Give ChartExpo a try this 2022 to increase your winning trades in the Cryptocurrencies market.
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