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Title: Does technical analysis work for Bitcoins as well? Post by: Frizz23 on September 07, 2012, 11:53:30 AM What do you think? Does the Bitcoin market function like every other (stock) market? Can technical analysis tools be used to forecast market trends?
E.g. Elliott Waves, lines of support, resistance, channels, and more obscure formations such as flags, pennants, balance days and cup and handle patterns. Do you guys use technical analysis on e.g. MtGox? Title: Re: Does technical analysis work for Bitcoins as well? Post by: sukiho on September 07, 2012, 12:17:49 PM are you looking for a trend?
Title: Re: Does technical analysis work for Bitcoins as well? Post by: Wintermute on September 07, 2012, 12:19:07 PM Can technical analysis be used to forecast trends in other (e.g. stock) markets?
Title: Re: Does technical analysis work for Bitcoins as well? Post by: HDSolar on September 07, 2012, 12:43:41 PM Can technical analysis be used to forecast trends in other (e.g. stock) markets? I don't see why technical analysis would not work for bitcoin. You might have problems with data quality or limited data to do full scale analysis since this is an emerging industry. I would say there is enough stuff going on that one could do this and over time more and more can be done.Now the best way to go about it is a good question. Title: Re: Does technical analysis work for Bitcoins as well? Post by: muyuu on September 07, 2012, 12:46:37 PM Poorly, as it does in other markets.
Title: Re: Does technical analysis work for Bitcoins as well? Post by: Wintermute on September 07, 2012, 12:57:02 PM Poorly, as it does in other markets. That's what I assume to. I do not believe in technical analysis, but that all available information is priced in the current value. Title: Re: Does technical analysis work for Bitcoins as well? Post by: Endgame on September 07, 2012, 12:59:10 PM What do you think? Does the Bitcoin market function like every other (stock) market? Can technical analysis tools be used to forecast market trends? I would say that it works. But as with conventional trading, I wouldn't want to rely solely on it. Its just another feather in your cap, along with fundamentals, news, and weekend dip, among other things.E.g. Elliott Waves, lines of support, resistance, channels, and more obscure formations such as flags, pennants, balance days and cup and handle patterns. Do you guys use technical analysis on e.g. MtGox? Title: Re: Does technical analysis work for Bitcoins as well? Post by: HDSolar on September 07, 2012, 05:51:49 PM What do you think? Does the Bitcoin market function like every other (stock) market? Can technical analysis tools be used to forecast market trends? I would say that it works. But as with conventional trading, I wouldn't want to rely solely on it. Its just another feather in your cap, along with fundamentals, news, and weekend dip, among other things.E.g. Elliott Waves, lines of support, resistance, channels, and more obscure formations such as flags, pennants, balance days and cup and handle patterns. Do you guys use technical analysis on e.g. MtGox? Title: Re: Does technical analysis work for Bitcoins as well? Post by: Andrew Vorobyov on September 07, 2012, 06:05:25 PM I do not believe in technical analysis, but that all available information is priced in the current value. The first part contradicts with the second... Title: Re: Does technical analysis work for Bitcoins as well? Post by: ElectricMucus on September 07, 2012, 06:08:01 PM It works in certain situations using scientifically rigorous methods, but I doubt there is anybody in the whole bitcoin trading game utilizing something like it.
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