Binance Beginner Guide — Step-by-Step Guide & Transcript

[00:00] This video has a simple but ambitious goal. I will give it my all to make this the best Binance tutorial on YouTube. Questions like, how do I sign up correctly? How do I quickly pass the

[00:13] verification process? Can I buy crypto with a credit card or is it better to use a bank transfer? Where do I even find the right cryptocurrencies to trade? And what are the best Binance indicators and tools that I can use to make money trading crypto? These are all questions that I will answer

[00:28] in a step-by-step manner in this video. So sit back and relax, perhaps grab a coffee, and without further ado, let's get started right away here. All right guys, so the very first thing we need to do here is of course to create a Binance account.

[00:45] So first, make sure that you head over to Binance.com, and next we want to press on this button right here, sign up. And this sign up process is a little bit more complicated compared to if you, for example, sign up on Google or Instagram or whatever. And the reason for this

[01:01] is that you need to do a verification process where you need to prove your identity. And this is something Binance and other crypto exchanges are required to do by law, and it also improves the security of the platform. So now let's go up here to the upper right corner and press on sign

[01:18] up. So here, when it comes to signing up, you can either sign up using email or phone number, and you also have an option to sign up with Google or with Apple. It doesn't really matter what you choose here, so choose whatever you like.

[01:30] Next, you need to verify your email. So head over to the email you chose, and you should see an email that looks something like this. Next, you want to open up your email, and you want to copy this activation code,

[01:44] and copy it by pressing Ctrl-C, and then you want to go back and press Ctrl-V here. Now it's time to create a password and here you need to use at least eight characters and you need to have at least one number and at least one uppercase letter.

[01:59] So make sure that you include all of these letters and now press next. So now guys your account has been created successfully and it's time to set it up. And here where it says referral ID you want to type out this code right here.

[02:15] This code is my referral code for Binance and by using this code you will get 10% off on all your trade. And at the same time you will also support this channel. So when you have the code typed in you want to press next here.

[02:33] And now it's time for the verification process. First of all you have to choose your country here so you can search for your country. But since I'm from Sweden I'm going to use Sweden of course.

[02:45] And now you can see that we need to complete a few steps here to verify our account. And this will just take around seven minutes. And here you will need to enter some personal information. And you will also need a government issued ID.

[02:58] So you can use, for example, a national ID card, a passport or any other government issued ID. You will also need to do a short line check to prove that you are the person on your ID.

[03:10] So you will basically need to take a quick selfie where you, you know, spin your head around a bit. Just ask how you do it when you, for example, set up your Apple Face ID. Then you will need to answer some quick questions.

[03:22] And you also need a proof of address. The documents that can be used as proof of address are things like utility bills, bank statements, or other government-issued documents.

[03:34] So now let's press continue and start this process. So first you need to show your nationality here, which for me is Sweden. You need to type in your first name, your last name and also the date of birth.

[03:46] Next up it's time for the identity verification. And here you will be directed to another website to complete the steps. You will show your ID card and you will also take a selfie. You also have the option here to complete this with a mobile.

[03:59] And this is what I did when I set up my account. It was much easier to both scan your face and show your ID card on the phone. So I would actually recommend that you use the phone for this step.

[04:11] But you can also use your computer. So let's press I want to compete via mobile phone. Now you simply need to scan this QR code in the Binance app. And next up you simply want to follow the step-by-step guide in the Binance app.

[04:27] Since I have already done this I cannot show this again. But if you guys have any questions about this process make sure to drop a comment down below and I will try to answer as fast as possible. Once you have followed all the steps in the app,

[04:41] your identity verification is completed and it will be under review for just about five minutes or so. All right, so congratulations. You now have your Binance account set up and ready to go.

[04:53] To double check that you are verified, you can simply go up here to this button and it should say verified right here. But as I said, this process should be done very quickly. but I've heard that the time period here to get verified can differ a bit so if you have any

[05:09] troubles just drop a comment down below and I will try my best to help. But all right guys so this right here is how the starting screen should look like. If you are currently not on this screen just simply go up to the Binance icon up here and press on it and this should take you to this page.

[05:26] And you can see that right here you have the most popular cryptocurrencies like Bitcoin, Ethereum, Binance coin and so on and so on and if you press on this button right here you can see the new listings here on Binance and here at the top you can see we have

[05:40] buy crypto, markets, trade, futures, earn, square and more and in this tutorial I will go over the most important ones but alright then so the very first question you might be asking yourself is of course how do I buy my first crypto and

[05:56] and the fastest and easiest way to buy crypto is to simply use a credit card so to do this we go up here to the buy crypto button next we need to enter how much we want to buy and we also need to

[06:08] specify what cryptocurrency we want to buy so let's say we want to spend 100 dollars uh the minimum amount here as you can see is 15 but let's let's use 100 right here you can see that you can

[06:22] change the currency you want to spend in this scroll bar right here but let's just stick with USD and you also need to of course choose what you want to receive so right here you can see

[06:36] that it says USDT and this is basically a crypto stable coin that tries to follow the dollar and you can use USDT to buy other cryptocurrencies but you can also for example choose to buy

[06:50] Bitcoin right away and now as you can see if you spend $100 you will get 0.0015 or 16 Bitcoin. Next you want to choose your payment method and here you can either choose a card,

[07:05] Visa or Mastercard and you can also use Google Pay and Apple Pay as well. But let's choose card here and click confirm and then we want to add our card. So here you simply enter your card

[07:21] number and you also need to enter the expiration date and security code and here it's important that the name of the card is the same as the name on your Binance account. You also of course want to make sure that you enter the right information here and that the address is correct and when

[07:37] you're ready you can simply press confirm. The good thing about using a credit card is that it goes pretty quickly. It usually takes a few minutes to perhaps an hour. However, the downside

[07:49] with using a credit card is that the fees are usually pretty high. Another downside with this method is that many credit cards have limits. So if you need to buy very large amounts, this method

[08:02] may not be for you. Another method to buy crypto is to use a bank transfer. And the great thing about this method is that the fees are much smaller and to do a bank transfer we want to head over here to the deposit tab and here first of all you can see that you need to select the

[08:19] currency you want to use since I'm living in Europe I usually just do euros here and here since I'm from Europe I'm going to use the SEPA bank transfer and you can see here that the fee is only one euro so it's very cheap and the estimated time here is zero to two business

[08:37] stays. So it takes a little bit longer compared to the credit card, but at the same time the fees are much lower. So if you're gonna do a large deposit this

[08:49] method is definitely recommended. It's also worth noting here that if you are from another region and you will probably have different options here. If I'm not wrong this is only for Europe. So depending on where you live the

[09:04] processing might take longer but now we are ready to press continue here next up we need to enter the amount so let's say here that we want to transfer 10,000 euro I think 20,000 is the limit here you see 2 to 20,000 let's use 10,000 here

[09:20] and press continue and here and this is very important as you can see your bank account name must match your name registered to your bank account and and SWIFT transfers are not supported.

[09:34] And right here is all the necessary details to complete the transfer. You will need to copy your account name, the IBAN number, the BIC, the bank name and the address. Then you simply need to log in to your own online banking platform.

[09:50] Then you choose the option to make a bank transfer. And then you need to enter all of these details and make sure that everything you enter here is correct. After you have double-checked that the information is correct, you are ready to make the bank transfer

[10:04] and you should receive the money in a few business days. When the money has arrived in your Binance account you will get an email and a notification and you are ready to start trading right so now when you have some money in your account whether you use a credit card or a bank transfer

[10:21] now we are ready to start trading crypto. But before we do this, let's actually take a look at where our money or where our cryptocurrency is. So what we want to do is that we want to head up to this button right here

[10:34] and we want to press on assets. And right here is an overview of all our cryptocurrencies. And as you can see, when you first open up this page, you can see that all of the information here will be hidden.

[10:46] So to unhide this information, you simply press on the i right here. And you can see that my estimated balance right now is 182 dollars, or in other words, 0.0029 bitcoin.

[11:00] And for me, since I live in Sweden, the taxes for cryptocurrencies is very bad. So for tax reasons I actually do my cryptocurrency trading on another platform called Avanza.

[11:12] But it's only available in Sweden. But if you scroll down a bit here you can see my assets right here. And you can see that I currently have some euro. I have a total of 171 pretty much euro.

[11:25] Or in other words that's equal to 182 dollars. And I also have a tiny tiny tiny amount of bitcoin. You can also see that on the bottom of this page, we have some recent transactions.

[11:38] You can, for example, see that I transferred over some Bitcoin to my Binance just around this amount. And I later on converted that to Euro. But yeah, this right here is the place where you get an overview of all your assets, whether it's crypto or cash.

[11:54] All right, guys, so now we are finally ready here to start trading crypto on Binance. Binance. And let's start here by taking a look at the easiest way to trade crypto. To do this we want to head up here to the trade button and we want to navigate down here where it says convert

[12:11] and block trade. The easiest way to trade at all sizes. And to trade here we need to enter what we want to convert from and what we want to convert to. So remember right now I'm having some euros

[12:25] in my account so to change the currency we want to use here we simply press on this button right here and as you guys can see I currently have 170 euros and I want to use my euro to convert it to

[12:38] a crypto so let's choose euro right here next we need to type in the amount and let's use all of it right here so let's type in 170 and let's say I want to buy bitcoin you can see the standard

[12:52] here is bitcoin but if you want to convert it to another cryptocurrency you simply press on this button right here and you can search for your crypto you can for example search for ethereum or xrp or whatever crypto you want but now let's say i want to buy bitcoin so i'm going to convert

[13:09] 170 euros to 0.00298 bitcoin next we want to click this preview conversion right here and you can see that you have a few seconds here to press on convert in order to get this exact price and

[13:25] the reason we have a timer here is of course because the market is moving all the time so Binance can only guarantee a price for a certain amount of seconds so you can see that when this

[13:37] timer resets the amount of bitcoin you get will also be a little bit different but now let's press convert for this price right here and as you can see the conversion was successful and to double

[13:50] check that we now have bitcoin in our account we can go to our wallet here let's once again uncheck this button which hides all the balance and you can now see that we have in our account

[14:03] 0.00297 bitcoin but now let's actually go back here to convert and block trade because what you also can do is that you can for example convert one crypto to another crypto so let's

[14:20] say now that we wanna for example buy ethereum instead and now we have bitcoin in our account so what we now want to do is that we want to use bitcoin so we choose bitcoin here and let's enter

[14:32] the amount so let's enter 0.00297 here so we basically use all our bitcoin and we want to convert it to Ethereum. So to choose Ethereum we click on this button we simply search for ETH.

[14:49] ETH is the ticker symbol for Ethereum and by the way when searching for cryptocurrencies the easiest way to find them is to search for the ticker symbol and if you don't know the ticket ticker symbol of your cryptocurrency you can simply google ticker symbol for that cryptocurrency.

[15:06] But now let's go ahead here and choose Ethereum. So as you can see, we will convert 0.00297 Bitcoin and we will get 0.0527 Ethereum.

[15:19] So to convert this, we once again click preview conversion. We have a few seconds to guarantee the price and we press convert. Here we got an error code. Perhaps we were a bit too slow here.

[15:31] So let's redo this conversion. And as you can see, this was successful. We transferred this many Bitcoin into Ethereum. And once again, to double check that we have Ethereum in our account, we can go here.

[15:44] And as you can see, now we have 0.0527 Ethereum in our wallet. Last but not least, let's actually convert back the Ethereum here to cash.

[15:57] So what we simply do is that we choose Ethereum, the amount we want to convert. and let's actually convert it back here to euro. So once again, we preview the conversion and we press on convert right here.

[16:12] And by the way, what I'm doing right now, converting back and forth between different cryptocurrencies with no reason, is definitely not recommended. Because every time you buy and sell a cryptocurrency, even though there's no direct fees,

[16:27] you will actually lose a little bit of money because of something called spread. spread and the spread is basically the difference between the price the sellers are willing to sell and the price the buyers are willing to buy so when you buy back and forth you will actually

[16:42] lose a little bit of money but i'm of course just doing this to show you guys how it works all right then so now we are ready to take a look at the binance crypto trading platform and to open

[16:54] the trading platform you want to go up here to trade and you can see that we have different options here we have the spot market you can also trade with margin but especially for beginners i

[17:06] actually don't recommend trading with margin because margin trading basically means that you can get potential higher profits but at the same time your losses can get much bigger as well

[17:19] so for beginners i recommend using the spot market and the spot market is basically the market where you buy and sell real cryptocurrencies so you buy and sell real bitcoin or real ethereum so let's

[17:32] go ahead here and open up the spot trading platform and when you first open up the binance trading platform it can feel really overwhelming but don't worry i will go over everything you need

[17:44] to know here in a step-by-step manner so first of all up here in the upper left corner you can see the market we're currently looking on. Now you can see that it says BTC slash USDT and the first

[17:57] letter combination tells us what market we are currently looking at and BTC stands for Bitcoin so we are currently looking at a Bitcoin chart. The next letter combination is what this market

[18:09] is measured in. So right now we're looking at Bitcoin measured in USDT. If you look here to the right you can see the current price of bitcoin which is 60 966 so right now one bitcoin is worth

[18:25] 60 960 usdt you can also see the price right here you can see currently we're trading at around 60 930 and as you can see the price is moving up and down all the time right here you can see the

[18:42] since in the last 24 hours so as you can see during the last 24 hours bitcoin has dropped around 1.28 percent right here you can see the highest point during the last 24 hours so you

[18:54] can see that the highest point was at 62 225 and here you can see the lowest point so the lowest point was 60 750. so as you can see right now bitcoin is actually pretty close to the lowest

[19:10] points. You can also see the volume here so around 20 000 bitcoins has been traded during the last 24 hour and you can also see the volume measured in USDT. And now let's switch the attention here

[19:23] and take a look at the chart. So right here we have a price chart of bitcoin or in other words we have a candlestick chart of bitcoin. To zoom in on this chart you can use your mouse scroll wheel

[19:36] like this. You can change the vertical axis here by holding and left clicking and you can drag around the chart here by holding your left click. And every candlestick here on the chart represents

[19:48] the price movement and in this case every single candlestick represents one day. How do I know this? Well if you take a look up here you can see that we have something called time frames and right now

[20:00] you can see that it says 1D right here and that stands for one day. But you can also change the time frame of the chart. So let's say that you want every candlestick to represent one hour instead then you basically click on this 1H button right here and now on the chart every candlestick will

[20:19] represent one hour Reading the candlesticks are pretty straightforward Reading candles like right here represents that the price has been going up and remember we are on a one hour time frame so it means that the Bitcoin price has been going up during that one hour While

[20:37] red candles represent that the price has fallen during that hour, or the time frame you're using. For a green candle, the price starts right here, and at the end of the hour, the price was right

[20:51] here. We say that the price opened down there and closed down there. But we also have something called wicks. You can see this right here is a lower wick and this right here is an upper wick. The wicks tell us the lowest point the price has been during that time period, in this case one

[21:07] hour, and the highest point the price has been during that time period. The opposite is true for the red candle. So for example, for this red candle right here, the price started here,

[21:19] during the candle it reached a highest point all the way up here a lowest point all the way down here and the candle closed right here so you can see that the next candle after this red candle

[21:31] opens where the red candle closed all right so now when you know a little bit of time frames and how to read the chart now let's actually switch the attention and focus on this part right here this right here is what we call an order book and the red numbers here are different sell orders

[21:48] that are currently on the market while the green numbers here are buy orders that are currently on the market and these orders changes every second because people are always trading bitcoin this is

[22:01] a very large market but you can for example see that right now someone is trying to buy around 12 bitcoin for 60 840 while at the same time people are trying to sell a lot of bitcoin for

[22:14] 60 833. I will later on in this video show you guys how you can put an order in the order book. And right here you can see the most recent trades here. So you can see that bitcoin is being traded

[22:26] all the time. The green numbers are when people are buying and for what price and the red numbers are when people people are selling and for what price. Now let's take a look at something very important and that is how do we find the cryptocurrencies we want to trade. Well to do this

[22:44] we simply have to look at this part right here. To search for a market you basically click search right here and remember the easiest way to find your market is to use the ticker symbol. So let's

[22:57] for example say that we want to find another bitcoin market and the ticker symbol for bitcoin is BTC. Once again if you don't know the ticker symbol use google your crypto and then ticker

[23:10] symbol and you will find it very quickly but let's say for example that we want to trade instead of bitcoin measured in usdt we maybe want to trade bitcoin measured in euro so what we search for is

[23:22] btc slash euro and we simply press on this market right here so now as you can see the new market is bitcoin measured in euro and the first thing you can notice is that the price is a little bit

[23:35] different and that is because euro is currently worth more than usdt so the value here measured in euro will be a little bit lower but let's say you want to find another market maybe you want to

[23:47] trade ethereum instead then once again you search for ethereum which the ticker symbol is eth and let's say we want to trade ethereum measured in euro then we simply search for ethereum slash

[24:01] euro here and we press on this market and just like that we are on the ethereum measured in euro chart and you can see that currently one ethereum is worth around 3172 euro. So now when

[24:16] you know how to find the right markets we are ready to take a look at the different ways you can buy and sell crypto or in other words the different order types. So now let's focus on this part right here. And let's start here by taking a look at the easiest order type and that

[24:32] is the market order. To place a market order you simply want to press on market right here and what a market order does is that it allows you to buy or sell at the current market price. And as you

[24:45] can see currently we have some euro in our account and let's say that we want to use this money to buy ethereum. To do this you can either type in how much you want to buy so for example you might want to buy it for 100 euro but what you also can do is that you can use this slider right here and

[25:02] decide how much of your current balance you want to buy ethereum for so let's say that we want to use all our euro here to buy ethereum then we simply put the slider at 100 percent and we click

[25:15] on buy ease so now this trade was successful and to double check this we can scroll down a bit here and we can click on trade history and as you guys can see just recently we bought ethereum and this

[25:28] order actually got split into two types so we had two different prices here 3175.44 and 3175.90

[25:40] you can see the amount we bought right here you can see the fee we had to pay for the transaction and once again Binance will always take a small fee when you are trading but now we have Ethereum

[25:52] in our account and to show you guys we can also let's say we want to sell the Ethereum we just recently bought we can simply choose 100% so we want to sell all our Ethereum to the current

[26:04] market price and let's press sell east right here and just like that our order is executed And we can double check the order by going down here and here you can see that we sold the Ethereum for slightly lower

[26:17] Than what we bought it for so we lost some money and we also lost some fees So I'm losing a bit here not good not good But now guys we're ready to take a look at the limit order and to do this actually when I change back the market here

[26:33] To you know Bitcoin measured in euro because this market is a bit more active and once again we want to focus on this part right here and now to use a limit order you want to simply go and

[26:46] press on limit right here. A limit order allows you to place a trade at any level in the market so instead of buying you know bitcoin at the current market price you can place a limit order

[26:58] so if or when the market reaches that point we will automatically you know buy or sell bitcoin. So for example, right now, Bitcoin is trading at around 56,770.

[27:10] But let's say that according to our analysis, we want to buy Bitcoin at a lower price, at 56,000. So to place this order, what we basically have to do is that we have to enter the price where we want to buy.

[27:22] So we enter 56,000 euro right here. We also want to enter the amount we want to buy for. And to keep it simple, let's say that we want to use all our euro. So we take the slider to 100.

[27:34] And then we simply press buy Bitcoin. And now, because this is a limit order, the order will not get executed right away. Right now, our order is actually in the order book. So it's only if or when Bitcoin reaches 56,000, our order will be successful.

[27:52] So to check this, we can actually scroll down here. And you can go here to open orders. Right here, you can see all of the orders that you currently have open in the market. or in other words the orders that are currently in the order book. So here you can see the price

[28:09] is 56 000 and this is the amount and if this order gets filled you will get a notification and it will also be visible here in your order history. If you want to close the order you simply go to

[28:22] this one right here and press on cancel and the sell limit order works in the exact same manner And when it comes to sell limit orders, you place the order above the current price. And if the price reaches that point, you will automatically lock in profit.

[28:38] So now last, but definitely not least, let's take a look at the stop limit order. And to place a stop limit, you basically go here to where it says stop limit right here. And you can think about the stop limit order as the opposite of the limit order.

[28:53] So when you place a buy stop limit order, what you basically do is that you choose a level above the current price. And if or when the price reaches that point, you will buy the cryptocurrency. And this can feel a little bit counterintuitive

[29:08] because you might think, isn't it better to get the crypto at a cheaper price? But well, this is not always true. Because when people do their technical analysis, by the way, we will talk more about that later on in this video. But when people do their technical analysis,

[29:23] sometimes they want to wait for, for example, certain levels to be broken before they enter the trade. And in these cases, a stop limit order can be very useful. So to place a stop limit order,

[29:36] the first thing you need to enter is the stop. And the stop is the level where your order will get triggered. So for example, right now Bitcoin is trading at, you know, 56,700 around there.

[29:49] But let's say that we have done our analysis and we want to buy Bitcoin only if it reaches 57,000. So what we basically do here is that we enter 57,000 as our stop level.

[30:03] This is the level where the order gets triggered. The next point right here is the limit. And the limit is basically the max amount we are willing to pay. And the limit here must be above the stop level.

[30:18] so let's choose 57 100 here so this means that when the price reaches 57 000 we will buy bitcoin but not for more than 57 100 last one at least we enter the amount let's say once again to keep it

[30:34] simple that we want to use all our money and then we paste the order right here you will get an order confirmation and let press continue and once again since bitcoin has not reached 57 000 yet our order will not have been executed yet so you can see the order here at open orders

[30:53] you can see here the trigger conditions so if the price is equal to or above 57 000 the order will get triggered and it will be bought for 57 100 or less and once again to cancel the order you simply

[31:07] press cancel right here. The sell stop limit right here is the exact same thing but the opposite. So this is where you automatically sell something if the price reaches a certain point.

[31:20] All right then so now we know about the different order types you can use to trade on Binance. Now we're ready to dive a little bit deeper and take a look at how you can analyze the charts to make trades here on Binance. And to do this I actually want to make the chart a bit bigger. So what I

[31:35] to do is that I want to press on this icon right here to make the chart a full screen. So let's go over here and press on this button and now as you can see we have a full screen chart. And let's

[31:47] begin here by taking a look at these different lines right here. When you first open up Binance these lines will already be on the chart and this right here is what we call moving averages. And what a moving average does is that it tells us an average price of a certain time period. So for

[32:03] For example, if you go up here to the upper right corner and press on settings right here, you can see what type of moving averages we are currently using. So you can see that the orange one is a moving average based on seven periods.

[32:20] And right now we're looking at a one hour chart. So right now the moving average is based on seven hours. The purple moving average is based on 25 periods, or in other words, 25 hours.

[32:32] And the blue moving average is based on 99 periods or 99 hours. If you want to create your own moving average, what you simply do is that you uncheck these ones. So we don't want to show these ones on the chart.

[32:46] You can choose another moving average right here. And let's say that we want to use a 50 period moving average. So 50 MA right here. This specific moving average is a favorite amongst many traders.

[32:59] You can also choose the color right here. So let's for example choose white right here. And let's also make this one a little bit thicker so you can see it clearly and press on save. And just like that we have a 50 period moving average on the chart.

[33:13] If we go up here and change the time frame, so let's change back to a daily time frame, the moving average will automatically adjust according to the time frame. And guys, I don't really have time to dive deep into moving averages in this video,

[33:27] But if you want to learn more about moving averages, I highly recommend to watch my full moving average training course here on YouTube. I will make sure to link the video somewhere up in the corner in the i. The next indicator I want to show you guys is this indicator right here.

[33:42] And this is the volume indicator, a super useful indicator that I personally find really valuable. And the first thing you want to do here with the volume indicator is that you want to go down here to the settings tab.

[33:54] and you can see that currently we have something called MA volume 1 and MA volume 2 and these are basically moving averages of the volume so we recently talked about moving averages but this

[34:07] right here is moving averages of the actual volume and some traders use this but for me personally I use volume without moving averages and especially for beginners it can be confusing to use moving

[34:20] averages on the volume so I recommend to uncheck the moving averages here on the volume settings. The rest is good here so we are ready to go down and click save. But what does the volume indicator

[34:32] actually say? Well the volume indicator simply says how many bitcoins that were traded during the specific time frame and right now we're looking at a daily time frame so what the volume

[34:44] tells us is how many bitcoins that were traded during that day. And when we see lots of volume on a green candle like for example right here that means that during that bullish candles lots of buyers are participating in the move and that can make the move more significant so for example if

[35:02] we see a breakout like we saw right here you can see this the price went sideways and then during this candle the price broke out from the range if we look down here to the volume we can also see that the volume bar on the breakout was much higher compared to the previous volume bars and

[35:18] is a good sign and indicates that the breakout is more likely to succeed and as we can see after this breakout we actually saw a very nice move here towards the upside all right so now it's time to take a look at one of the best indicators on the Binance platform at least in my opinion and

[35:34] tons of other traders use it as well as well so what i want to do here is that i actually want to close the volume here and i also want to close the moving average for now so we only focus on

[35:47] on the indicator so I want to click on close right here and to open up our indicator in Binance we want to go here up to the technical indicators tab and we're going to press on this one right here

[36:00] next we want to move here to where it says sub and the indicator I want to use here is the MACD next we want to press on this button right here and the standard settings for the MACD is 12269

[36:13] For now you don't have to worry about what it means, but I do have a long MACD course here on the channel, so if you want to learn more about the MACD I highly recommend to check that video out. I will link the video somewhere up in the

[36:27] corner in the i. But now let's press on save right here. And one of my favorite ways to use the MACD is to look for something called divergence. Let's make the MACD a bit larger here so you can see a divergence is basically when we

[36:44] have the MACD going in one direction while the price is going in the other direction so to show this I'm actually going to use the trendline tool right here so for example you can see this recently we can see that here on the

[36:57] price let me make this a bit bigger so you can see you can see the price right here printed one high and then a lower high but if you look down here to the MACD, you can see that the histogram of the MACD went in the other direction. So we have the price

[37:12] going in one direction, we have the MACD going in in the other direction. This right here is what we call a bearish divergence and indicates a potential reversal to the downside. And we can

[37:24] see that after this divergence appeared, we actually saw a reversal to the downside. The same thing can be seen right here. You can see the price printed one low and then a lower low, while the MACD printed one low and then a higher low here on the histogram.

[37:39] This right here is the opposite of what we just recently talked about. This is a bullish divergence and indicates a reversal to the upside. So this is one of my favorite ways to use the MACD. However, I don't really recommend to use this strategy on its own.

[37:55] So once again, to learn more about the MACD indicator, I highly recommend you guys to check out my full MACD course. All right, so now it's time to take a look at yet another powerful tool here in Binance.

[38:07] And let's actually go back to the one-hour chart right here. And the tool we're going to take a look at, you can actually find right here. And it's called Fibonacci Retracement. You want to start the indicator at a swing high.

[38:23] Then you want to drag the indicator all the way down here to a swing low. So in this case, we have the swing high right here. we have the swing low right here and once again if you guys want to learn more about swing highs

[38:36] and swing lows i have a full course on that as well on something called market structure so if you have the time i highly recommend to check out that video after this one i will link the video somewhere up in the corner of this video but as you can see we have some numbers here we have

[38:52] something called 0.618 0.5 and 0.382 and these numbers are basically percentages they basically measure how large is the bounce here compared to the initial move and one sort of rule of thumb

[39:09] when it comes to the fibonacci retracement this is an over simplification but that is that most of the time the bounce will end somewhere in this area so somewhere between the 0.618 and the 0.382

[39:24] and as you can see in this case the price actually exactly went up to this spot you can see we tested it multiple multiple times so in this case the fibonacci retracement worked out very good but

[39:36] once again i don't recommend to you know trade on the fibonacci retracement alone it's always a good idea to combine multiple technical variables in order to get a more solid understanding of the

[39:48] market and a more solid analysis all right so this binance tutorial is actually coming to an end very soon. But before we wrap up here, if you guys had any questions about this tutorial,

[40:00] make sure to drop a comment down below and I will try my very best to answer every single comment. And also, if you feel like I missed anything in this tutorial, feel free to drop suggestions down below on future Binance topics you want to see here on the channel. Perhaps you're interested

[40:15] in the margin trading function or more advanced topics like trading bots and copy trading. If I get enough comments I'm definitely up to make a part two of this video. And also guys if you did enjoy this tutorial and found some value it would be super super

[40:31] awesome and helpful if you can show that by dropping a like on the video and also make sure to subscribe and hit that notification bell so you don't miss any upcoming Binance tutorials. And last but not least when you are ready to dive

[40:44] deeper into trading and technical analysis I highly recommend to check out this playlist. It contains all the educational trading courses I have made so far. See ya guys, I hope to see you in another video very soon, but for now, take care, ciao ciao!