Timeframes for Crypto Charts
Timeframes for crypto charts range from seconds, minutes, hours, to weekly and even monthly, so that you can get a sense of both what’s happening in the moment and also the larger trends.
Timeframes of crypto charts align to different trading strategies, most simply short-term and long-term traders.
Long-term traders usually hold investments for years at a time. The most successful traders will HODL their assets until the peak of a Bull Run before taking profits, and then buy them right back once the Bear returns. This is easier said than done obviously.
Position traders
Position traders focus on long-term price movements. They tend to use weekly and monthly price charts to identify potential entry and exit points. They do not worry about minor price fluctuations because their chosen trading period eliminates the need to constantly monitor price movements.
Short-term traders include swing traders, day traders, and scalpers.
Swing traders
Swing traders hold trading positions for a couple of days, although sometimes they can extend to as long as a few weeks. Because of the length of their trading periods, swing traders don’t have to stay glued to their screens monitoring charts and their trades every minute, but timing is still very important.
Day traders
Day traders usually hold trading positions for less than 24 hours. They enter and exit their positions on the same day. By the end of the day, you can close your position with either a profit or loss. Day trading is pretty intense, but wait until you hear about scalpers.Scalpers: Scalp traders are the shortest of short-term traders. The trade time are usually 5 to 30 minutes. The idea here is to make lots of quick trades that result in small profit gains. Scalping is a demanding and intense crypto trading form that is not for everyone.