Bitcoin Forum

Yeah. As i said in the subject, is it really worth it?

I mean is it really worth learning how to read its chart?

Btw, What is insurance trading on Bispex exchange? It sounds complicated and quite new concept applied to exchange.

Yes it is really worth it if you know how to analyze the bitcoin chart especially if you know how to read the market graph and you can predict if what would be the price or what would be the next event may happen in the next few hours or next 24 hours. If you really want to study or analyze the chart, it is very good and you can fastly made a decision if the price may pump up or dump down. This probably the advantage of some people to the other people who don't know to read or analyze the market graph, because if you know already how to read and analyze it you can start trading and earning.

To be able to read, understand and predict trends from bitcoin's price chart is an important skill every trader should possess. If you are planning to be a trader, it is where you should start. Though it would not be enough to predict price movement because you will still need to consider current events and news that could affect the price, it is still a good guide to your trading strategies.

Yes, analyzing Bitcoin price shows how much knowledge you gathered! Analyzing Bitcoin price needs huge knowledge about crypto market history, updated news, hype, next events and so on and it helps a lot to its traders, investors. Everyone can predict a price for Bitcoin easily, but not everyone can make a valuable Bitcoin price analysis!

And, I have no knowledge about that Bispex exchange, searched on google and looks shitty to me. Try to avoid that exchange and choose a good one, as we have many options.  

If you are a trader or even an investor, knowing how to analyze the chart is a good skill that can help you in positioning especially if you are a position trader.

I'm not good at technical analysis but I know how to use the basic indicators and I know how to analyze at least the chart of Bitcoin but even you are a good analyst, still you can't predict what can happen to Bitcoin because it is always have 2 sides. It is either the positive side that can happen or the negative side but either way if you are a good technical analyst, you can be ready in whatever situation that can happen.

Tech analysis is not about bitcoin. Too many fluctations here

Many people do know how to "read" a chart in a higher or lessee degree, but that it is surely not enough to make a living or even make a profit from the markets.

You need to have a strong grasp of risk management principles and also you need to be able to manage your emotions and analyze your behaviour, esentially you need to be self-aware.

I think it's a mix of Fundamental Analysis and Technical Analysis. Chart analysis alone couldn't predict the price trend that much unless seen on a long-term chart, where the factors of the trend lies more into the market and core network updates and ideology, unlike in short-term where manipulation and volatility are mostly present, making the chart almost unpredictable. Though Fundamental Analysis of what's happening and what's about to happen might also shed some light to predict the trend, there's really no guarantee of an accurate prediction.

If you are onto trading, you must know how to analyze the price chart properly because trading is all about predicting the price of the coin that you have. If you bought it on its lower price, you should try to predict when to sell it or when the price of that coin gonna rise up because that will really help you to become successful on the trading career.

It's worth so that you won't be depending on other technical analysis. And if you have knowledge with it, you have the background and are aware of the possible next movement of bitcoin.

But always think that whether you're good with reading charts, nothing beats bitcoin being unpredictable.

yeah chart one of the initial capital that must be owned by a trader, of course traders will be easier to analyze and practice trading systems according to their style because there are many chart patterns so it depends on how good you are at reading it.

Yes it's really worth analyzing Bitcoin price chart, you should have a good knowledge to pridict about bitcoin, read a graf and understand about it. It is not that easy to analyze until you are well experienced in bitcoin market. So that you can know when pumps and dumps will occur

I believe if you're a long term investor, investing in the idea, then these charts wouldn't matter a lot. But you will still need it to make an entry. You can't invest at $13k even if you're looking for long term. Chart analysis will give you a good entry to the market.
These daily movement and swings are only good for short term traders and they can actually make sense out of these price charts.

Well, it all depends on the purpose why you want to learn how to read bitcoin price chart. If you just joined the bitcoin just to invest, then its very necessary to understand Bitcoin's price chart. It helps tell you the pattern in the rate at which the price of bitcoin changes and the possible next market value of bitcoin.  As an investor or a daily trader, the price chart helps you minimise your risk potential and maximise your profit margins.

Surely it is worth it if you could understand the chart you could analyze the market price of the bitcoin in the past years giving you the idea of the market at that time.
Also with some research in the market price and the possible upcoming price of the bitcoin you need to consider a lot of things like influence and also check some news from bitcoin.

There are so many speculations in the market for sure it is not 100% accurate overall simple things could easily affect the market price of bitcoin but as it is price charts and research about it is surely worth it in the end. It might not be accurate all the time but still, the speculations could or most of the time accurate if you do things in the right way.

As per my knowledge and experience these charts along with other prediction data never work in this sector. See this current bull run for instance there is hardly any chart that was predicting such bull run. Bitcoin run whenever it has mood to run. .

Yes, it is worth analyzing bitcoin price chart as it gives you the idea of the rate of bitcoin of earlier years so that you can get an idea of the rate of bitcoin in forthcoming year. If you're new to cryptocurrencies its essential you go through this bitcoin price chart.

I think analyzing Bitcoin price charts is not that easy for beginners, it may take you some time to understand how bitcoin's price moves each day, but it's always better to get some idea about that so at least your predictions will be more accurate and with logic instead of random guesses of prices, And most of people are thinking that bitcoin's price will increase in the future, so sooner or later we'll have a good profit.

It's worth analysing charts if you are good at it but on the other hand its not a must, investing in bitcoin is less risky than other coins, all i keep doing is buy low and sell high, repeating the process over and over again will earn you good reward

No. There's no proof that any method offers objective data and predictions which are better than those made without using such methods, as far as I know. This means that price analysis is not something serious one should study to get more informed. It's just a way to convince oneself that it makes a difference, when it really doesn't. At least that's how I see the matter. Bitcoin will rise or fall regardless of predictions. One simply has to follow the news and the prices not to miss anything important.

But how can you determine what low is low and what high is high? I think on your perspective there are just prices where you are comfortable on buying and selling but this isn't really the best way to go nor the most efficient one when it comes to maximizing your profit. You still need to determine the bottom as well as the maximum price that Bitcoin can reach during that time and you can only do that with the help of technical analysis. Just by being comfortable with prices on what you think is good enough will only get you in a lot of risk in a trade.

if you have to make money out of it why not learn it. there are people who wakes up in the morning and looks at the chart without even thinking of something else first. they eat drink and breath BTC trading and the firs thing they do when they wake up is check the charts and see where could the market go today and trade. that's the kind of dedication they put to earn money in analyzing BTC market. it must worth analyzing.

It is worthy to know how to read charts, in fact, that serves you a signal/guide for the next step you have to take. This is also a reason why successful traders achieve their goals. It eventually we learn it, of course, it takes time and more experience. It is our own market understanding which we acquire when we are fully engaged in trading.

BTW, you have mention Bispex...It is new to me but looking its market performance https://cointobuy.io/bispex it seems to good to invest with also. Well, it hopes that it could follow the uptrend motion of crypto by now.

The learning related to cryptocurrency will help us profit out of the investment we make. When we have the ability to analyze and study the chart we can easily understand the growth history. Upon the same we can make investments and increase the profiting chances even though in most cases luck decides the profiting as we don't know how does the market change in no time.

It is worth it if you want to make some profit by trading on a daily basis. You need the skills to read charts if you are a trader. If you are trading without such skills you are like a blind man trying to catch fish. You will surely end up with nothing.

But if you are not interested in analyzing price charts, you should shift to simple hodling. That does not ask much from you. All you have to have is patience.

Most of the traders are relying on chart reading for their daily trades but of course they are still considering a lot of factors before they will finally conclude when is the time to buy and when is the time to sell, yeah patience is very needed for this, as the market is sometimes unpredictable and hard to read.

The price are unpredictable if you will not use any kinds of analysis. Using technical analysis can help us to forecast the price of the bitcoin, I'm one of those traders who are relying on chart and price action. It is important to rely on chart because chart doesn't lie and it can help us to determine the right time to buy and sell. Having technical analysis skill can help us to improve our knowledge and trading skills.

Yup I believe it’s worth it, you might know that because a lot of people that you see posting analysis are not really good at it.
I have seen a lot of people trying to predict future prices for cryptocurrency and they always end up with giving the wrong information which makes think that analysis is always wrong and is not worth it.

Even the so called influencers you see that post rubbish on Twitter are just deceivers and don’t even know what they are saying, they are among those that are making people think analysis is not worth it. They just come out and speculate that Bitcoin will reach $1 million tomorrow, lol.

Seriously? Of course it is very significant to learn how to read charts, technical analysis and volume. It will help you to go through on a success trades, it sure is worth to learn those. And when it comes to trading in bispex exchange, I never tried to trade to that exchange yet but i do a lot of tradings in bitmex and binance.

However, I have heard about bispex token but not yet about their own exchange. Did they launched their own exchange already?

of course reading a bitcoin chart really needs to be done when we have entered the world of cryptocurrency. reading the chart really needs to be done so we can compare bitcoin prices in the past and present. by reading charts we can speculate and make the right decision.
but reading the graph is also not a guarantee that our decision is right. but this will be a valuable experience.

Honestly, i will do anything so i can read market's chart. Although for some people market is really hard to predict, i think read chat still better than speculate and do trading activity. For me it is really worth and will be very useful if we can read chart and make analysis from it.

worth it or not it depends on how you and people see it, to be honest I studied this for years and even I feel a little strange, what they describe sometimes does not fit into widespread calculations, almost I see mostly only for personal gain and a team, just look at a lot of self-made analytical charts forcing chart lines according to their desires without having to see anything that is really important to calculate, here I learned a lot that determines the market is traders and charts are made by many traders not the chart lines that we make our apps read of course sometimes not always the same, although the same is just a coincidence, my thought is that to read the graph is very useful in the fiat currency market but not for crypto

sorry i don't know much about Bispex   ;)

Of course, it is, You have to know how to analyze Bitcoin price and how the way Bitcoin price is running, It's very important for this system because Bitcoin is the mother of this Cryptocurrency world, suppose, You are going to trade with Bitcoin and any other cryptocurrency then you must gather the knowledge about the Bitcoin price in recent time, So price chart will help to bring to you a good summary about this system, That's why price chart will help to you to make a decision without any hassle, so it would be a good thing for you if you want to get involved in this system for the long run.

I’ve wondered how much effort it is worth trying to understand candles, Elliott waves, etc.

My conclusion is that if you are starting with little to no knowledge of charts, then it’s not worth it to figure out all the movements in the short term. There are too many variables to figure out.

I think it’s better to look more at the big picture and do longer term trading that doesn’t require as much technical knowledge.

It seems you are newibe to this market, and you don't know the importance of the chart. In this market, if you want to make a profit from your investment, you need to know how to read the chart, and the bitcoin chart is one of the most important things you should know. 90% of your decision will depend on analysis charts and 10% will depend on market news.
Also I feel you're trying to advertise Bispex exchanges, I haven't even heard this exchange name before.

That's true, and in my opinion, studying charts is very important and is a major point in analyzing because graphs can help predict the next graph's movements.
and in my opinion all bitcoin users and especially those who have been using bitcoin for a long time seems to already understand the movement of the bitcoin graphics which can help make decisions as a consideration.

There are many traders who take short term positions on buying and selling, for them price charts are life line. But these charts are not 100% accurate. You may be lucky with them at times but not always. For long term hodlers these charts are nothing. We buy when price is down and wait for bull run.

Of course it is worth it since it would help you make a better decision when it comes to investing and selling on crypto.
You could anticipate the market's next move and get a better profit,
You wouldn't need to wait or listen to any self proclaimed pro traders just to make a decision.
It is like asking if knowledge is important to one's life.

it's really worth analyzing bitcoin price chart if you are a trader
but it's not easy because the market will not always favor in you.
and about the bispex exchange im not really familiar with it.
It looks like a new exchange if you can't understand their concept maybe try other popular exchange instead.

Read price chart really help us so we can do trading activity like what you said, trading chart really help for short term trading, and maybe it will be good if we are really can handle a lot of condition in market or maybe can do short time and long term trading. So we can get profit in there.

I do really having a hard time before to predict market price using analyzation of the charts from new altcoins to some complex cryptocurrencies already there. Though, one thing I have concluded is that, analyzing charts is best for the short term prediction of a cryptocurrency, those that aren't having most of the hypes and news for its market price to change. Such as altcoins, because most of the time, bitcoin is relying on whales that control the market based from worldwide news around the world that greatly influences their buying and selling behavior.

Yes my friend, don't mistake bitcoin's volatility as futility of the price charts and growth trends over time. We can still make a viable assumption or inference by reading the charts provided that we have the basic knowledge of it. Bitcoin's price follows a trend just like any goods and if we are able to at least grasp some knowledge I can confirm that we'll have valuable information which we can use for future decisions.

It's an easy skill to learn and learning something new is always good for you. Are fib lines and all that useful? Probably not to most people because there's so many indicators that most traders only choose the 2 or 3 that work for them.

An analysis based on something like trend lines and drawing flags and pennants can have a different result than one based on harmonic patterns.

Bitcoin is so volatile and full of manipulators that you can drop all that analysis and do something else with your time.

And it can be studied and learned.

Not every trading expert didn't came out with their expertise overnight but it takes time to read so it's your choice OP if you will choose to focus and take time for it.

Of course its worth it. The bitcoin price chart is very accesible for us to know the daily or weekly or monthly price movement. In this way we will be able to decide and have our own predictions for our decision making especially in trading. It also helps us to know the trend of prices each day and we'll able to compare it weekly or monthly or yearly. It is like a monitoring chart.

If you are a trader, it is not an option to study charting or not. It is a must. How will a trader decide on his calls if he does not have anything to back it up? But make no mistake, the price has been, is, and will always be unpredictable. But charting will at least guide a trader in his decisions. Without that, he is just, again, blind.

If you want to become a professional trader someday then you really need to know how to analyze bitcoin price chart as it is part of your daily,weekly,monthly or even yearly activity.

But for those long term investors, reading it is not that necessary as they can just peak the price of their assets anytime they like so there is no big pressure to the long term investors unlike in trader. I am not really familiar with bispex exchange and I will not waste my time digging about it as it is very obvious that you are only promoting it.

Well it sounds like your inserting promotion obviously. I bet nobody here know about Bispex.

But to answer your question if charts can benefit traders then I really think so that it helps a lot of traders read the market and its one way to gather hints of markets possible future movements.

You can use this information when trying to based your decision, reviewing the last market movement can be trace out using charts. You can speculate for your next position or if youa re holding your assets you can also try to set up your goals with the help of price chart to anticipate best outcome for your investment. Maximizing every information will suit you up to success.

There are Forex or stock DAY traders, swing traders, relying mostly on technical analysis.  It has been shown that a small minority of them achieve a net gain over time.  Like poker, the only real skill required is to think slightly ahead of most others. 

WIth BTC, most traders and investors have no idea what has caused exponential appreciation.  They give up on trying to figure that out, and all that remains is technical analysis.  Technical analysis is ultimately just formulaically assessing social psychology.  As time goes on, bubbles, pumps, dumps, and other 'FOMO' behavior has become smaller and smaller.

I suspect that in recent years some whales have agreed to make random or pseudo-random market shifts.  Until then, fundamental analysis, and the understanding that BTC absolutely has an intrinsic value, despite it being a currency, predicted most of the shifts.

I couldn't help but notice how many posters wrote "Yes, you should know technical analysis" instead of "I have made a LOT of money using technical analysis".  There's no question that the guru's that teach it make tons of money via add support or selling memberships and courses.

Having no clue at all is the worst thing you could do. Decisions made with just an assumption without any form of analysis will lead you to the unfortunate cases. You have to be at least aware of chart prior to dealing up with a certain decisions, so yes, it matters it may sound so tiring, and complicated but it plays a vital role to avoid further loss.

It is worth if you are a trader. For the rest is not worth. We just stare at them and that is it.
If you plan to trade you simply learn how to read charts. There are gazillion courses on internet about trading. weed out some good ones. Ofcourse it will take some time to learn. Crypto is much easier then trading other things so you will have more success are people that trade other things.

The current economy we learn faster in crypto so obviously charts are guide the each trading. But reality everyone expect the quick profit in any platform so it is hard learn crypto also and we make good profit on long term investment. My suggestion is playing similarly is the best guide for any platform so try some small scale trading is good move for current traffic. Bitcoin is forever trustable platform so we make some profit on later.

Crypto is easier to trade because many Noobs just started investing. So it's easy to manipulate them to buy/sell in a bad spot. However this changed in the last year and the price is much more unpredictable with hard chop trading to push the longs and shorts out of position (=the bart head charting).

But why trade when the upside of just holding is so bright and there is still so much place to naturally growth ?