Bitcoin Forum

The function of the analysis either technically or fundamentally determine whether prices will rise or fall, will move in the same direction or reverse direction.
Based on the type of analysis is divided into two, namely:

1. Analysis to identify trends that will happen, that analyze price movements globally and estimate the shape of the graph is going to happen.

2. Analysis to determine the type of candle that will be formed, whether bullish or bearish candle candle. This means that target only one candle, but this candle targeted distances can be as large as a trend. Candle targeted so usually it uses a 4 hour time frame upwards.
In terms of determining the trends that will be formed, just as a supporting role candlestick alone. Namely as a signal giver entry / entry point, so that traders get the best price.

I. Entry Point Trend Up
The rising trend can be detected by the appearance forwarding long-bodied bullish candle after rising graph low Markowitz

II. Entry Point Trend down
Down trend could be detected with the advent of long-bodied candle bearis forwarding after graph that modestly high Markowitz

III. Entry Point Reverse Directions Up
Reversal of the trend down to the rising trend could be detected by the appearance or inverted hammer candle and candle reversal Hamer in oversold area or convergent.

IV. Entry Point Reverse Directions Down
Reversal of the trend rose to the down trend could be detected by the appearance candle shooting star, hanging man candle types reversal and more overbought area or convergent

Candlesticks charts patterns work if you can interpret it properly and understand the formation that show market signals. In trading the only way you can succeed is to treat it as business and not gambling. Money management principles is a must leaning and no matter how poor your trading strategies you will succeed at the end of the day.

There are lot of online resources are available for learning candlestick patterns. Fortunately on my own interest I learned candlestick analysis and I am using it for my bitcoin trading. But not that useful with altcoin trading in my experiences.

Actually i compare altcoin trading as penny stock trading with very high risk of both loss and win.

Bitcoin trading can be considered as forex trading so reading candlestick pattern may help just like it is helping many forex traders from past. However trading market will always remain hard to predict and in case of bitcoin due to very low marketcap, price swing really fast and hard to catch those moves reading charts only.

for now we can only read the movement of candlestick to atlcoin in ethereum alone. and for long still very far from profit.

I could say that bitcoin trading and forex trading really differs regarding on moving prices because on forex its more complicated and you could really actually use those candlestick patterns and they are a good tool because you could able to identify on when would be the divergence of the price but doesnt guarantee to be happen anytime since explosion do really happen. Theres soo much thing to consider if you engage into both tradings.

i think candlestick analysis can be used to know what is the trend of the coins and we can make our prediction from this. i like to play with candlestick to know the trend and i think its very good to learn about the candlestick and the trends of the coins.

I always do it, because otherwise I could not do trade Bitcoin or Ethereum

Exactly, it is part that i like from analysis technical, unfortunately still there is weakness with this method for prediction, it just calculate past data buy and sell on the markets, so the accuracy of prediction is about 50:50 and in my opinion analysis technical on trading is not enough still need other ways for making profit consistently.

I guess not all run like that, because traders can also release orders to buy or selling them for a particular purpose.

I have some ideas on play altcoin market.

we select some coin in bittrex and poloniex the volume of transactions is still small, we move the market so as volume up and trigger other traders opted to buy.
after we buy coin when the volume is still small sell orders that do not put no weight on the support to buy because it was blocked quite a lot of sell orders.

after the transaction volume increased 10 fold we see the movement of the coin.
if we want to sell the coin that we have to buy in early at a cheap price, try selling coin if it was an instant only, because let us not interfere with the movement of the coin for a ride.

I also trade forex, so candlesticks and formations, I must say are one of the foundations every trader ought to acquire. Each candlestick or a group of it is telling a story about the market, so even in altcoin trading, it can be useful for detecting market reversal, breakouts, ranging markets, etc.

It needs be said however, that candlestick patterns and formations are lagging in the market information they give, so combining them with other indicators would be a much better way to approach the market. We can appreciate the beauty of candlesticks when we trade base on price action and trendlines.

since we are on a bitcoin forum i have to say all these analysis have the least importance when it comes to trading cryptocurrencies because there are far more things behind the curtains that are affecting these cryptocurrenies' prices.

i am going to go as far as saying you can even trade successfully in altcoin market without even doing much analysis on the charts.

In the world of trading analysis was necessary because without us analyze either technically or fundamentally, and others, we will never know which way it will go. we want traveling like we should have a purpose and the necessary equipment.

ini maksudnya apa, saya tidak mudeng sama sekali...

I have learned to read the pattern of the candlesticks and how to analyze them on babypips. It is good to learn them because it provide good insight. But reading graphs and technical reading is just a part of the job. More on it is reading and analyzing the sentiments of the market. Personally, I make better prediction by looking for news that will effect the commodity I am trading.

there are a lot of influences as news of the coin, bitcoin price
you have to learn from the coin news

I do not have enough time to search for news about coins, so I quite see the candlestick as a tool of the trade.