Bitcoin Forum

1. Technical analysis is only take into account from past data.
2. Technical analysis only can gives hint about 50%-70% true signal for buy or sell.
3. Technical analysis does not has power prediction but just only detection condition of market according to the data.
THAT IS JUST MY OPINIONS  :D
For more information share your opinions. Thank you

There's a saying that the technical analysis is a bit like a weather forecasts: it is correct too often to ignore it, but it is wrong too often to rely on it :)

Seriously though, I think it is important to look at the charts, because so many other people are doing that.
I wouldn't necessary buy just because there is a buy signal from the technical analysis, but I certainly would not sell if the charts are giving me a buy signal.

You can't predict anything, Everything is gamble and you must only have a luck!
But if you know that halving is coming and block gonna be smaller you can expect price rise,
that is natural thinking.

The bitcoin price is too affected by the news. Good news, its price rises. The recent news is about the block chain size debate. If there is conflict in the opinion, the price drops.

As we approaching halving moment i expecting flood of bad news!
Good news will come later after halving.
Even now we have every day constant attack on bitcoin!

Hey i am newbie, do you can teaching me about technical analysis? You are like many knowing  :)

Hey you can learn technical analysis from google and this thread is not about learning it. This thread is for your opinions about technical analysis. Thanks

 

Ok thanks   ;)

Technical analysis works because the most trading is done by bots today. It does not matter of stock trading or Bitcoin trading. Most volume is traded by programmed bots. And those bots are based on technical analysis indicator algorithms. For that reason it makes sense to trade after analysis indicators. I have applied those indicators for forex trading some time ago, it works but I am not a fan anymore.

Technical analysis is no more than astrology for traders.  It is dressed up to look like science but it is really based on fantasy, nonsense, and myth. It provides many excellent examples of confirmation bias.

Technical analysis cannot be trusted much in the sense that past flow of the chart does not necessarily mean such and such future behaviour... but as many people believe it DOES predict it, then it is wise to take that into consideration.

The bitcoin price is affected by news a lot. It is not a good candidate for technical analysis. Maybe in 10 years, it is good to do.

Best of analyzing you can get from twitter and other social medias..
Especially if you follow few prof. traders in their hypings..
Otherwise you need a years of experience in using fibonacci and other methods,,

Yes you are right but we need analysis tecnical although it has weakness, because history will be refeats as well as the price.

Technical analysis is just a tool. There  are times when it comes handy  but not every time.
 
It makes you more experienced with the trends and that's a good thing.  It is a tool only as good as the user wielding and knowing how well to use it.

While Person A may only predict 1/3 of the market trends correctly, person B may do it 4/5.

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Regards,
BitBay Team

the notion of technical analysis for crypto currency markets is always baffles me.
it may work in any other markets but in crypto markets it is hard to say really. so in my opinion, any kind of analysis is good and important but it is only a small part of the way. the rest of it is done by other things like listening to the news and finding out what is happening "now" rather than what has happened before.

There is a lot more to it.Have you even heard about Statistical Analysis ? When we speak about "Analysis" in trading,the only paradigm we're referring to is Statistics ,which is a whole another world!Nowadays,its automated and typically used by all these stock brokers who jump to results with the accuracy of about 80% .
Data Pruning/Data Mining/Business Analysis/SAP BI everything is mashed up together to do it by the computers.They even predict the rate of shares in the next 5 years!My point is,leave the traditional data collection methods,move to Business Intelligence.

I am believer of fundamental analysis over technical analysis because I think it gives more accurate results based on core values and natural flow whereas technical analysis always focus on actual moment of levels and predicts according to those movements. Technical analysis is good for short term while fundamental is good for long term.

I am not saying technical analysis is not good but when it comes to crypto currencies (where you see pumps and dumps daily) then it really make technical analysis risky because it’s not based on actual moments but on those pumps. I might be wrong, but that's my opinion.

Thank you so much for your share about the opinions of tecnical analysis and fundamental, and i agree with you. It is my old thread when looking for best way for making analysis and prediction the price that be suitable for me, the point is traders can use analysis tecnical for making short prediction and investors can use analysis fundamental for making long time prediction. So depend on the strategy of investments will be used.

from the past data, we can learn about the coins and sometime we can get a good signal from there for buy or sell. for me, technical analysis can help me to make a line for now, is it up trend or down trend. but its only me, i don't know with others.

you shouldn't think about technical analysis as a tools to "predict" the future/price but instead think of it as a mere suggestion about the future price.

because when you are looking the the past (charts) and drawing all those lines and then come up with the future, you are assuming that everything is going to stay like the past. and we know that is not always possible .

Lots of things in life moves in cycles and several patterns have been recognized to exist and religiously repeat in the financial market of which cryptocurrency is an integral part. Basically what technical analysis seeks to exploit are these traits in human, take for instance, the magic of Fibonacci retracement, Bollinger bands, etc

I agree with you that nobody can predict everything in a precise manner. But I disagree that trading is a gamble and that it is all luck. While most aspiring traders lose money, there are a handful who make money consistently by using different strategies and analysis. The risks taken are all calculated even before you have made the trade. If you buy and sell cryptocurrencies because you "feel" it is the right move then yes it is gambling.

Predictions are often very unreliable but you can't act for the future if you don't know the past. So, to my position you shouldn't ignore technical analysis but also this shouldn't be your only guideline.
If you want to be serious trader yo have to dedicate some time and skills for analysis too.

TA works because it is magic! If you really want to understand the magic of TA, look up confirmation bias (https://en.wikipedia.org/wiki/Confirmation_bias) and survivorship bias (https://en.wikipedia.org/wiki/Survivorship_bias).

Yes you are right from the past data we can get signal for buy or sell, because history will be repeat its self but you must remember there is not guarantee analysis tecnical will give 100% true signal and give us profit. It is just tools for making prediction of price.

Exactly, both analysis have their own pros and cons and traders and investors adopt the one which is suitable for their trading strategies. Being an investor I always used fundamental analysis where I see results in comparatively long term as compared to technical analysis. At the end we should not forget that both analysis give mere predictions and both can go wrong, we can see the trend of price movement but accurate prediction of actual figure is near to impossible.

Technical analysis would  be a good tool   in your trading career  because  with these  you  could able to get  idea from the  past events  of certain movements and news  about the   price of  a certain currency  when you are trading  up. I cant imagine  a  trading  without this  tool because   i take this guidleines  to  myself same as you said  but we should not  fuly rely into it because  price movements  may gone wild anytime.

Yes the indicator on tecnical analysis can help for us making prediction of price, but there are some traders said it is not enough in trading activity still there are something other be needed for become successful trader and it is psychology trading.

It's not significantly useful for me, in my mind I just relying on the volume and distribution  getting my standard price for selling and buying. but it's work fine until this time and never gets a serious problem like losing a lot.

technical analysis is just a tool that helps you see the market better and understand the movements in the past and possible movement in the future.

technical analysis in
- big markets like stocks or forex is only right in 50% of the time
- in bitcoin is even less
- in altcoins it doesn't work at all.

but despite all that, it is still a good tool to have and know if you want to do professional trading because knowing it and be wrong is a lot better than not knowing it and be blind!

I make a post sometimes ago " can we relies on technical analysis in making a trading decisions". From the reply I got, we may not be accurate up to 50% talk less of 75%. What drives the market is fundamental issue such as news, expats analysis, emotion and greed. Technical analysis only analyzed past market valued.

its only for history and if we can learn about the history, then maybe we can make our analysis and then we can use the analysis with the basic of history to gain profit. i always to see what is the movement of the coins for at least 6 month, is it good or is it just to get disappear from time to time.

Well it is just opinions from some other traders and it is can be true and wrong, everything depend on traders them selves for use best strategy of trading that give profit consistently, suitable and low losing.

And most of the traders have different perspective on what will they do or planning to do in their next traders. Technical analysis can be considered as good basis on future decisions. Yes it's not that it will make a trader a sure profit but it's a wiser way to deal with the price market movement compare for just betting on your own instinct.

At the end of the day, those analysis will revolved around a traders mind and after some brainstorming, a new trading decision will be made.

If I started trading always use this technique:
1. Open the chart and identify ongoing trends
2. Determine the support and resistance
3. Take advantage of Moving Average
4. Filter with indicator oscillator
5. Set the stop loss and profit target
The most important thing in my opinion if it is to successfully trade is patience.

It is mostly bullshit. It is like predicting the result of a coin flip game. It may be tails for 100 times and can still be tails for the 101st. time. The past results have nothing to do with the future.

You should make your decisions with information you have at the present, not past. It may give you a little bit of insight but don't make it your main deciding method.