As promised, I’m going to start my new series, Steem Ed, to teach my fellow Steemians, particularly newbies to the #investing world, on how to be your own analyst.
Why do I want to do this? Primarily, as I explained in my last post, Steemit has become a place for spammers to rape the reward pool with BS sold as “technical analysis,” giving the actual discipline of technical analysis a very bad name.
But on a personal level, I was once a green investor, not knowing the Dow Jones from toilet paper. And I was lured in by BS and the cult of personality that many Steemit spammers espouse. To help prevent people from making the same mistakes I made, I want to do my Steem Ed series, educating people on how you can be your own financial analyst!
And you really can do this!
Don’t believe the spammers – they don’t have any more special knowledge or tools that you don’t have or can’t get easy access to. You can do this on your own, and therefore, gain true financial independence!
Alright, enough of the rah rah – let’s get down to it!
Everything Can Be Done in Excel!
That’s right…don’t be fooled with BS spammers’ rhetoric. You don’t need to sign up for a “proprietary trading algorithm” or a “crypto alert tool.” Everything can be done on Microsoft Excel…seriously!
That also means all the data you need for strong, genuine technical analysis is available for free at places like Coinmarketcap.com
Let me show you how.
Go to coinmarketcap.com, and select “Bitcoin.” Then, when the new page loads, click “Historical Data.”
On the right side of the screen, you can select from the drill-down menu your preferred time range. For now, let’s select “Year-to-Date.”
Starting from the leftmost column, “Date,” highlight a few complete rows, then press the follow keyboard combo -- shift, ctrl, end. This should highlight all the data. Right-click on your mouse, and hit “copy.”
Now open up Microsoft Excel. Paste the data onto cell A1.
Next, point your cursor at cell A1, and hit the combo -- shift, ctrl, down arrow. Next, point to cell E1 “Close” and with the ctrl button depressed, click on cell E1. Next, enter the same combo shift, ctrl, down arrow.
You know have columns A and columns E highlighted. Hit “Insert” at the top of the spreadsheet, click on the line chart icon, and bam! You have your own price chart!