Bitcoin Forum

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

1 - TA won't predict the future. No one serious would ever claim that. At very best it could increase your chances of accurate prediction of market behaviour based on the past movements. It's not deemed very effective even for traditional markets.
2 - TA is completely useless for the market that is often being moved by unforeseen events, i.e. China bans BTC, Mt Gox coin dump, large exchange gets hacked etc.
2 - Self-fulfilling prophecy. If some popular analyst(s), with very large following, present their TA, that itself could actually move the market.

People used to follow TA before. But now a days all fake analysts and well bribe paid analysts made the TA as a joke. I personally stopped looking TA in any market include stock, forex, crypto markets. The reason is Analysts are bought by companies to give their stocks or coins a extra hype by doing a intentionally created artificial analysis which is totally on the other side of the market.

so , TA is less and less trustworthy.

Technical analysis works with any asset that has chart to show it historical price. The only problem with technical analysis  and crypto is that, majority of traders depends on speculations to determine their prices not on technical analysis.

a lot of some analysis that emerged from the RSI that just makes us stuck in a circumstance like a price dump. and it makes the head feel as if it will break,, making its own analysis by holding on to some predictions will be better than RSI...

If enough people are following and actually acting based on what the charts are pointing out, then it's very likely going to work, but this market is too unpredictable to purely focus on that. TA works pretty well based on how traditional investors and institutions apply it on stocks and such. The crypto market is literally infested with empty headed fools gambling their savings based on nothing but hope. I think it's safe to say that with how this market will become more professional throughout the coming years, TA will become far more of a fundamental driver than it is right now, but that directly means the volatility will significantly decrease as well.

of course, technical analysis works in crypto as well as in any other market
the reason is the same as always — TA is about crowd's psychology
You should understand why graphical patterns appear and you will realize why it works

TA does not work. Ask yourself if TA were work then trading robots would trade instead of real traders but it is not so because professianals trade themselves. I do not assest that TA does not completely work because sometimes it works but it is an unuseful instrument if it works just sometimes.
The best instrument on market is low price and there is no better.

Ignore technical analysis of crypto currency trading at your own peril. The impacts of technical analysis cannot be over emphasize as its impact is so much like that of fundamental analysis of the crypto currency market. For you to be a successful crypto currency trader you require a sound knowledge of both technical and fundamental analysis of the market.

I think it's a crock of shit myself. Most markets are too thin and too rigged and populated with the too stupid. All it takes is one misinterpreted piece of 'news' for things to explode or crumble.

If anyone can point me to a time stamped set of predictions that's above average in its guesses then I'd like to see it. The only one I'm aware of is Masterluc and his predictions started to fall apart this year.

Technically analyzation is good for basis but it doesn't necessarily mean this will make us gain,and we must not just rely on this only instead adding research and trust youre instincts cant give another thing.

I myself dont really believe in TA but i much more likely believe in my instincts and luckily it helps me find what i needed to gain

The crypto market has been unpredictable so TA's doesn't guarantee the real thing.

But take those informative and interesting TA's with valid facts and analysis, the way the analyst reads and predicts the market base on his opinion.

Yes friend, I think instinct is part of trade and it helps alot but despite that, TA guides the instinct to make a decision because if the technical analysis don't make you see and understand why the market is made sometimes the way it is.

I'd like to see that too! News seems to make bigger random movements to make technical analysis seem like a joke in this market.

For my opinion technical analysis works fine on crypto currencies! You just need to constantly study and practice it every day. Use only RSI is not enough. It is necessary to use many tools. And as a novice you need to check the information you saw with different tools to make sure of the solution. Later, when you have the experience, you will be able to quickly pick up 2-3 tools to check whether you should buy/sell. In each situation you will use different tools and this is normal. The candle analysis helps a lot. Of course you need to constantly be aware of all the news! Crypto currency is heavily influenced by news. But this is not the only strategy, this is a supplement to technical analysis.
In any case, everyone chooses for himself the strategy. The main thing is that a person would be a successful trader, and in what way he achieves this unimportantly. I wish you to find the right strategy for you!

I do use vortex and moving averages along with RSI. There are so many false signals that i gave up and am just holding coins instead of trading. Almost always my stoploss gets hit. I did the backtesting too! It seems just not profitable enough in cryptos.

Thank you for your insight.

If TA won't predict the future, why everyone emphasizes on it so much? I am thinking we could probably skip all the mumbojumbo indicators and simply buy the coin with good fundamentals everytime it falls 25%+. I think I am even tired of chasing news as well. It sometimes falls when the news/product is announced. Markets are crazy!

TA is somehow good in cryptocurrencies but there's a lot to consider including news and other foreseen events.
I just TA for crypto like Eth and BTC but for ico tokens, TA is not that reliable coz ofcourse limited history thus difficult to know the trend.

Technical analysis indeed does not work perpectly, but this analysis is helpfull to know the situation of the market, from TA like price pattern or candlestick pattern we can decide the market on bullish, bearish, reversal or continously follow the trend. I can not trading without analysis the charting and without some indikator. Can be by use combination of TA and news of crypto will more help to predict the price where will to go.

I disagree with that, because I've heard many people--all very serious and earnest--claim just that, that looking at charts will tell you exactly what's going to happen in the future.  That's basically what TA is. 

Yes, I think TA is bullshit and I've said this many times.  Fortunately a large part of Wall Street has realized this as well and don't employ as many technical analysts as they used to.  Fundamental analysis is the only way to go in the stock market.

In crypto, I would think that "fundamental analysis" in the form of just looking at the news is useless.  Why?  Because everyone else is doing the same thing and using the same strategy, plus news can be inaccurate or downright fake.  You may as well be trading on rumors.  In fact I've also said that there's no such thing as FA in crypto, because there aren't any real fundamentals to analyze like there are with stocks.  All of the metrics like P/E and so forth that you have in the stock market are all missing in crypto.  The only thing crypto has is supply and demand, and the supply is always known, so the only thing to analyze is demand....and how do you predict that accurately?

Its not only with Crypto.

TA has the same results in Stocks, Futures, Metal markets, Yields, Bonds, etc.

You won't find a TA that works 100% of the time. Basically at best you can find some indicator that is correct 20-25% of the time, use it and basically use a good risk to reward and get out before it turns again you.

If it was this easy my Grandmother would be trading instead of doing manual labour.

TA can be used as a guidance when investing or trading. However, ypu should not base ypur deciaion solely in TA since crypto market demand is affected by many factors.

I am a person who never believes in technical analysis through graphs. I think it is a joke. Because the market will never be evaluated on the figure, it will be judged by the actual economic situation and the different levels of inflation.
I will often learn about economic history and read more articles to make my portfolio.

Well TA is fine, but trading with  cryptocurrency is different. Cryptovurrency can be manipulated and your TA becomes useless. Remember that crypto trading is not regulated and whales is free to play around.

A good trader will not rely only on Technical analysis alone he had to incorporates fundamental analysis to his trading system, fundamentals is the driving force of all markets Cryptos, forex, spot, commodities markets thus TA is just like a guide and in most cases Cryptos markets does defies TA e.g when the whales dumps btc all TA fails.

besides that we must pay attention to news that happened on the project. indeed we should combine it with technical analysis and that must be understood is no definite analysis, so it must be a lot of strategy

The best tool on the market is a sound mind. TA can be used, but fully be confident in future events looking at TA is not literate and unprofitable.

It's really a bullshit when you compare previous data with the current market because of its always moving. So Technical analysis wouldn't work over the time period. But it's true that it could be a good assistant in order to make any investment in this platform.

I am not a technical analyst and neither I understand the term at all. However what I do is simple thing, I ignore the TA as it is worthless. I know that I cant read them as I dont understand them properly but I have seen various failed groups here who tried to perform nice TA in the long run and when the time came then results were exactly opposite to it thus making everything look like a joke. Many people use this theory and that theory to prove their stuff but to be honest the market starts to make moves according to its current situation and news around the globe.

if you want use TA, i think used conventional/classic TA is better option.
I used to trade with my exprience rather than TA because at first time i just jumped to trading without any knowledge.
After i read some TA patterns, i must say classic TA like head and shoulders, cup and handle, doji, and others it's actually works on cryptocurrency

But don't forget news>all , you need to keep on update with your coins if you don't want to get a huge lose

Who knows how they predict it with technical analysis. Just some raw data from the past and current graphs and boom there is straight line passing through 10K value and they think bitcoin will rise to the 10K this weekend. Oh come on, who cares, I dont think these technical analysis really come up with good results all the time. They are just hypothetical speculations based on the past data and I dont think it will be the same when there will next week with all the good/bad news happening around us. I think that is way of tricking the traders and forcing them to act in that way so that the results would be similar to those. How can anyone even believe on the hypothetical line drawn on ups and downs of the candlestick.

I think that technical analysis does not work on the crypto market. The price reacts too much to the news. So you're absolutely right. And then, all these graphics is very boring)

Technical analysis is not bullshit but I want you to know that change is something that is always constant which is the reason why technical analysis fail to yield the require result sometime and with the current state of cryptocurrency market technical analysis won't produce the right prediction which the the news will produce cause the market is still sort of shaky.

Technical analysis is helpful in predicting the movement of the market by means of studying the graphs and the charts. Although, it is not accurate all the time due to the fact of the currencies volatility and other factors affecting the market. Although, one of the most common reason why technical analysis fails is because of the patterns and trends we see. Yes, there are patterns and trends when reading graphs and charts but sometimes, we often think that there is a pattern although there really isn't. Technical analysis requires skills and not at all is it applicable to everyone. Try fundamental analysis, that one works, too; all you have to do is analyse the fundamental indicators.

If fundamentals and news work best for you, it is better to use it as your guideline instead of other type of methods. Indeed, news for me work best since the market will react to it as I can understand.

Technical analysis doesnt work anytime with crypto trading which we do all know that this is very an unpreditable market prices can change from time to time at least we expected but i do still see lots of people do make rely on their technical analysis but together with fundamentals. You are not being forced to believe that its working but just stick on the things where you are profitable.If you found out that fundamentals is better then better just rely on it.

TECHNICAL ANALYSIS IS A VAST SUBJECT and I don't think you have sound knowledge about Technical Analysis to comment on it. There is much more than RSI strategy and I think you need to learn and practice more in order to master the Technical analysis. Every trader needs to bother about technical analysis because its one of the major ways by which you can mint some big money in this market. I am TA expert trading stocks, forex, and cryptos from past 8 years successfully and I am here to help you at anytime you want, just pm me if you need to know something regarding TA.

There has never been much proof of news being a price driver in the more recent years. The only thing we see happen is that coincidentally certain announcements were made during or just before a certain price movement.

In most cases news sites know when to publish certain articles, which might even be with a paid incentive in the background. In this market manipulation is key to make millions in profits, and news sites abuse their position.

Look at how many good developments in the last months haven't translated into one single mini pump. It's clear that large parties are utilizing current market to accumulate as many coins as possible, and they take their time for it.

Technical analysis is real but technical analysis wont work in crypto market in all cases this market will turn one-sided so we should follow holding strategy

Technical analysis is very useful. Yes, the crypto currency market depends very much on news. You always need to keep abreast of all the news that occurs in the crypto world. But this can not be the main strategy. If you trade every day, you must also be able to read graphics. This will help to find good entry and exit points. The market is a crowd of people, their psychology is the same. Everyone experiences the same feelings (fear, greed, uncertainty, regret, etc.) Here technical analysis helps to understand what moods prevail in the market.
You need to use different indicators. One indicator can not pinpoint. You should always check on several indicators.
If you spend your time and energy studying the basics of technical analysis, you will understand everything I wrote about here. Good luck!

I also believe that technical analysis for crypto is not so important, since everything is very unpredictable in the crypto market and no one knows which whale will buy or sell tomorrow.

Technical Analysis helps to judge the sentiments and movements of the market. It is an indicator of the next steps, it helps us to make cautious/informed judgments. The same happens in crypto too.

However, the Crypto market is still not matured enough and is very small compared to traditional markets like stocks and forex. Movements here can be manipulated, FUD can be created easily, etc. So Fundamentals play an important role. Movements of BTC also needs to be taken care when we trading.

Hope this helps!

Question: is there any technical analysis or analysis reviews good for the crypto field? Can I rely on these analysis to predict the future trend of crypto and do investment and trading?

You should be using the both technical and fundamentals analysis in other to maximise your trading decision.  some are good in using technical analysis and they did not know how fundamental analysis work therefore it is very wrong for you to said technical analysis is bullshit just because of your experience in cryptocurrencies.

It works very well for me, but the problem is that you need to do technical analysis only with those coins which have a lot of volume, not for crappy coins that do not even have a million dollars of daily volume.

They are good, don't doubt in that, they are based on history. Can history be uses for predicting the future, don't relay on that.
Can you invest money in bitcoins today and to make 30% profit in a week? Check technical analysis to see is something like that happened before? You can check technical analysis for possible price movement patterns, and that should be like confirmation for prediction you already have.
When you trade with crypto relay just on yourself and try to have back up plan for every possible situation. Make your prediction on more than one thing, news, technical innovation, big things like selloffs are, check are news are true or false, then check technical side and than make your trades.

TA might serve as guide for more relatively stable markets like btc, eth and litecoin which cannot be pumped easily compared to shitcoins where it is susceptible to pump and dump schemes. I personally don't believe that TA will work on cryptocurrencies as it is much more effective on traditional trading.

In the life of every trader and all those who are there in the world of the crypto currencies, this technical analysis carries a significance importance and that there can be nothing more useful than this as this helps you in having a fair idea of how the market value will be soon. all you need to do is to keep on learning as much as you can and that you must focus on improving your skillset.

technical analysis actually only helps you to help provide information about the approximate position to buy coins and estimated time to sell coins.

Yes TA actually does not work well in crypto trading because price action of crypto according to fundamental of the each coins, When the fundamental of each coin very strong like Pundi X , though already going up more than 10 times but look will continue up trend. But not all the times TA will not work, TA will usefull for day trading. TA is needed to know trend of price, without TA i think all trader can not determine support and resistance area. TA also will help to predict the price will continously follow the trend or will reversal.

I wouldn't say its bullshit we all know how very very unpredictable the market is, so its hard to rely on TA alone. We all know that its based on pure speculation and sometimes it goes on the opposite direction,

But there are times TA works like the MA (moving averages), some of the time you will see if its overbought so know what's going to happen next, sort of price correction along the way.

Technical analysis may be partially correct with Bitcoin. I find that the majority of altcoin is manipulated by sharks more than the effect of technical analysis alone. :o :o

I agree with you, Technique analysis is trader's psychology. But their working regimes are not the same, i mean between crypto and Forex. So, in Forex you can not pump or dump the price, you have to have the world to do it, because market volume is much more than crypto. However, crypto is the opposite.

yes. don't ever look at charts (irony)

If technical analysis is completely bull shit, then how do you want to make trade decisions? Rely only on Fundamental analysis? Without TA, you apparently will not have a strategy, and without a strategy, you are sure just going to be gambling and that even puts any trader in a more horrific position.

The mistake we make most of the time, is to expect TA to give us 100% accuracy, but things do not work that way and most especially not a market that is decentralized and movement can easily be manipulated. One thing is that with your TA, always keep at the back of your mind, that a tight stop loss is still very important due to the market behaviour, but as far as I am concerned, it is either you are using TA or you are not trading at all.

TA has worked 60 - 70% of the time in trading bitcoin for me and that is good enough. Whereas, bitcoin movement is my main indicator I use to make decisions for altcoin market even if I want to get in at all. I have learned to rule out emotion completely and set a very tight stop loss in any case, or wait until I see a clear coast before making decisions even if indicators show good signals, that way, it makes it easy to stay clear any form of manipulation for the purpose of whale trying to trap traders, which I assume is always the case.

So I think it could be useful but every person should be deep in that and have a great knowledge of those principles

In order to understand the technical analysis you need to be a geek at least or have been studied somewhere

Technical analysis will give you prediction based data number/ graphic chart where the price will go depend your time frame. Every technical analysis has their own rules and purposes, do you understand that?. Second thing is open position/ take profit/ stop loss is your decision, you can trust your analysis or your faith. Don't blame the method because your asset is your action.

While I am not a TA fanatic myself, and don't see much value in it from my long term investor's perspective, it actually offers the very basics for everyone to start understanding a market. You can't say this or that will happen with the price without basing it on whatever form of TA. Traders buying Bitcoin without prior TA are straight gamblers.

In the end, TA always provides a better shot at profits, and that better shot will allow the more skilled traders (which are part of a minority) to end up with more profitable than losing trades. As long as you can end your trading sessions with more profitable than losing trades, you have done well. Guaranteed profits don't exist, you can only make sure that you position yourself correctly in the market, and that's what TA is for.

As I said, skilled traders managing to make profit are part of the minority. The majority of the people are only losing, which makes TA looks worthless, but it's just the nature of the game.

sometimes analysis can not be made for a benchmark that will determine the price movement of crypto because I think the ups and downs of the crypto price can not be predicted completely. and sometimes the number of related news about crypto will affect the price movement of crypto because usually people will do activities in the world crypto that will tend to follow the development of news that is often heard from several media sources.

I believe that technical analysis can be useful in those days but the market is so volatile that we should rather rely on luck

I am a beginner in trading, but based on what I experienced up to now that news is more instrumental in helping me in buying coin, I used to do TA but all is almost wrong, I think it's because I'm new and cryptocurrency is fluctuating so the price is difficult in the guess.

first people need to understand what TA is.
You look at the chart and say: "hey look, there is a trend going on".
congrats, you just made a technical analysis.

you obviously can't expect that throwing any indicator on the chart will give you a prediction of anything. If this was true nobody would lose....and nobody would win.

TA is like meteorology;
you observe the clouds, the wind, the humidity and than you draw a probable condition for tomorrow. Yea, sometimes the say it will rain and we'll have a sunny day. the are too much variables.
It's all about "betting" on probabilities. Actualy not very diferent from poker (and don't let them convince you that poker is all about luck)

First of all, Technical Analysis cannot predict the future, but can only give a probability of how prices can move in the future (based on what happened in the past). But in my opinion, it doesn't work really well with cryptocurrencies, maybe with the exception of BTC. In the altcoins market its quite useless.

Technical analysis is not so important and you can simply run in the market by applying the market rules and principles. Technical analysis are independent on your work and role in the market so you do not have to go in complications but simply monitor the value before taking some action or decision. Give your focus to your trading and the market so that you will get success.

I’m not the type of person that relies on technical analysis, cause I don’t see them helpful in anyway more than what the news media has to offer. Technical analysis is being done by people who claims to be wiser than others and thinks that they can predict the future of every market.

Many times I have tried it, it failed me. So if you ask me, TA is a total BS! Unless maybe I was relaying on the wrong ones. But I wouldn’t be going for it anymore.

Agreed in a way, but we cannot still call it total bull shit but one way or the other find a way we can just at least make do with it to still make some decisions. You cannot be right all the time, and since we are not whales, we are just at a huge detriment relying on TA 100% of the time. It is always annoyingly funny though, but there is nothing we can do about it.

Without TA, you will still not be able to make any decision anyway as you cannot basically rely on fundamental analysis to trade the market only as well.

You are not doing it right that is why it may seems to you that technical analysis is not good. It supplement fundamental analysis. Depend on technical analysis along will not give you the much results needed. What the news say is a reflection of what you see on your chart.

I use TA in my trading, but it is not the same as on traditional markets. I spent one year to find useful patterns for some coins.

I would argue that you will never be able to find a real pattern with 90% of the coins (maybe even more)

Most TA's floating around the forum can be interpreted in many ways, which makes using them as an indicator that much more difficult.

For the moment Technical analysis might not be effective enough, but surely its a important approach to make some good calls in short term trading or day to day trade in the market. For investors of long term, Fundamental analysis is good, also if you want to judge a ICO, or any altcoin, this method can be helpful to make decisions. None of the approach is bad or wrong or useless, its just for the moment, people is finding it hard to make short trading calls using TA.

Agree 👍

Technical analysis is just like a indicator to the markwt hiw it is going to be but there is no guarantee thatbit will ever going to happen, because crypto trading is most likely an gambling so we also needs luck to make money in crypto trading.

In my experience TA does not work if you want to predict a longer trend but can be useful to make entry or exit decisions. If it would be different then why did no TA expert see a correction coming last december?

No, you're right, TA actually can't help you out when it comes to serious investments and hold/sell questions. I think it might be helpful in daily trading though.

You can't agree completely but partially you gave to say that you cannot just rely on technical analysis dor choosing your investment. Technical analysis is good for those who know the technicalities of trading.

In any field of work or job technical analysis is very important how to do the work better than expectation, in the crypto technical analysis is usable but hard to perfectly crpto's movement how to get earn specially in trading, because the reason is cryptocurrency is very fast movement as volatile currency so nobody can get perfect exactly analyst comes.

Nah! It's not true that Techinal Analysis is bullshit. OP,  you may justifiably tweak that title a bit to encompass, "Not totally accurate" As someone who looks at charts myself, I have come to believe that because of so much FUD in cryptocurrency the TA is most likely to fail. This industry is driven by FuD or FOMO and this rubbishes TA. In forex trading, it isn't so. TA rules.

Dude, relying on luck is gambling and not trading.

No. Of course not. It helps the trader to predict the future price and I think it really works. Besides, many trader uses technical analysis to know where they will going to enter and quit to the market. Technical Analysis is useful specially, if you know a lot from it.

Technical analysis indeed does not work perpectly, but this analysis is helpfull to know the situation of the market, from TA like price pattern or candlestick pattern we can decide the market on bullish, bearish, reversal or continously follow the trend. I can not trading without analysis the charting and without some indikator. Can be by use combination of TA and news of crypto will more help to predict the price where will to go.

It perfectly shows that it all comes down to how many equal minded entities there are in a certain market, which definitely applies to forex and to a tiny lower degree stock markets.

I must however point out that currently there isn't all that much fud and fomo going on in the crypto space, which means that it will allow TA to become a useful indicator, and the firm range pretty much confirms that.

There are less noobs trading right now, and less noobs dumping for no reason. I like how calm this market is and hope that it will last for a longer while. Sending $100 worth of Bitcoin today means it is still $100 next week.

How can someone dislike that?

Technical Analysis and Fundamental Analysis should be considered together , not seperately. TA is just a way to interpret the market behaviour and give us some clue. You cant expect TA to tell you exact future everytime. FA and TA should be analyzed carefully but at the end you would decide what you should do.

Fundamental analysts and technical analysts should be aligned. You will find out if the altcoin you buy or sell is too cheap what is too expensive through technical analyst methods. There are many indicators, if you use RSI select 14 periods. Or boilinger as a confirmation of the trend.

That is it. The market is so unpredictable and a lot of traders like you said in the crypto world are basically just gamblers. I would not say Technical analysis still does not work in cryptocurrency, but works far better in Forex or stocks and this is because we are in a decentralized market and I do not actually expect anything less.

I feel most times, the prices can be manipulated to give fake signals, and since one already know all of that, it is best to always know how to minimize the risk in most places. Stop loss are there for reasons in the market and not for decoration anyway.

You had pointed out "pure TA" which presumably that your really depending on it fully. How? Does the price of the exchange not apply to you as you sell? Since the behavior of the market is truly unpredictable, as what everyone mostly stated in here. The instinct of one's self in trading is what matters the most.

~ Do you think that the price will move the same way it was last week? Consider the pattern it makes to lessen your confusion upon the unpredictability of the market itself.

~ The news don't truly drive the prices itself. It is the quantity of the people reacting into the news.
"X coin will reverse in price this week, *insert economists here* stated." Because of these speculations made by known people, the people in crypto decides to react upon their own understanding in the news. Sell or buy, it doesn't matter. They will react upon what is being said in the news.

Technical analysis works with any asset that has a chart to show its historical price. The only problem with technical analysis and crypto is that, the majority of traders rely on speculation to determine their prices rather than on technical analysis. That just keeps us trapped in situations like price dumps. and it makes the head feel as if it will crumble making its own analysis by holding on to some predictions will be better than RSI.

Technical analysis is a necessity in making investment decisions or speculation. I think you have not yet passed a standard class on investment. You need to spend more time to learn and read more before investing.
Theory is essential to this work. You need to improve your knowledge as much as possible.

If you really know how to trade, then it is not bullshit because you are gonna make a lot of profits because of your chart reading skills, and trust me, it is good enough for a starter.

TA still works in cryptocurrency but 80% of the time is bullshit and your best bet is to always use your discretion with a very tight stop loss most of the time before making a trading decision.

This was what exactly brought me to the idea of a huge manipulation in the crypto space but I am not surprised since much of that should be expected in a new environment that is completely decentralized in a way, and sometimes, it is more like the whales always love giving the traders wrong signals, and once they hit the market, they gain a lot from stop loss being hit.

I don't agree with the opinion that technical analysis is bullshit. Of course it is not easy to predict coin price, but you can achieve excellent results if you use technical and fundamental analysis in aggregate. Because only technical analysis will help confirm the entry point to the market and point to a more favorable time for it. And fundamental analysis can provide an opportunity to choose right asset for buying.

I guess you are in the market for a while and don't have challenging goals set for this year (example: financial freedom) otherwise  you would not like stability as it is a trade killer but I agree that the growth we saw in december last year was simple not sustainable

Stop loss is always been recommended into this cryptomarket and as a trader for you to avoid on being burned in the end. The thing i do like when i do trade up on here is that you wont able stop your negative floating which is unlike on forex once balanced or usd account is depleted it would automatically cancel out an order and leave you a burned account which do differs on here. Once you bought even though its negative as long you arent selling it its still not considered as loss. Technical analysis isnt bullshit but there are really times or most of the times it doesnt really work on what you are expecting.

Why? This is the technique people who are good in crypto. I don't know, there were some people whose bad at it. And there were people that were good. Up to you where to believe.

It doesn't work consistently even on regular markets, let alone cryptocurrencies. There are basically two ways of making money in any market (unless we include pure luck). The first you already mentioned, and this is using fundamentals (like, for example, in crude oil and other commodities). The other method comes down to milking the market somehow by using arbitrage, insider info, front running (if you are an exchange or market maker), or whatever other methods and instruments exist that I'm not even remotely aware of. As you can see, TA doesn't belong to any of these two categories.

Technical analysis working but not always as you expected. That's way beginners always complain about technical analysis, you need to see the bigger picture. You cant trade only from one indicator or 1 strategy you must see major variants and possibilities for price moving. And don't forget that sometimes whales just manipulate the market.

I rather tether than use stop loss in crypto trading. I believe stop loss here is highly inconsequential. Why use SL when you can just have a wait for price to revert, whenever. Accounts hardly go into margin call except where a coin is delisted from an exchange. In Forex SL is necessary but in crypto it's optional. That's how I see this anyway.

the technical analysis is nt bullshit but the crypto market is growing as of now the market is improving in terms of volume and investors so the market reaction for news will be speculative in nature

Technical analysis is useful and give you a direction where the market is heading towards. Though in crypto currency due to such a volatile market it may not be always accurate and also speculation sometimes makes it more difficult for the technical analysis to go right.

Its not complete Bulls**t, but in the bearish market as its going right now, technical analysis wont be helpful. Right now everything depends on Bitcoin and how it will move in the next weeks.

TA is just a tool or media that will help us in analyzing market developments that occur at the time or also can be said collection of active summary of cryptocurrency activities, so far for those who are experts in using them able to manage the risk of trading well. Both in the event of a decline as well as an increase it's also often used by them to strengthen its predictions

The goal always to maximize investments..The current bearish crypto currency market will take the upward trend. Investing in crypto requires analyzing hundreds of channels, social media, market data as well as mathematical models to find the diamond in the rough. Its good to have a sticky note somewhere when we can see it, so we contain ourselves from panic mode or greed in bullish markets. Crypto is affected by low trading volumnes and crypto soars when exchange rates. Stay in the loop stay focused

There is no accurate prediction for the price of cryptocurrency but you can always rely on different speculations in order to boost up your confidence on investing a huge amount or make the right decisions in the future.

Yes, Technical analysis and Fundamental analysis is just a clue or hint for a possible price changes. This must be a part  of your own research. Though the result is not a  full basis for decision making its just a guide to minimize losses. But when the market  is manipulated, TA and FA is useless.

No, technical analysis is not bullshit and not useless; it plays its function in the market and encourages people towards the market. The technical analysis let us know what is going on in the market and from which stages the market is suffering. Technical analysis helps us a lot to know more about the market and the future market. Do not consider it useless and focus on your investments.

It depend on whos giving the technical analysis or if youre the one doing it,well i guess youre a big mistakes about it.

As what my own strategy is concern i am not using TA instead research on my own,and checking the price movement myself.why not just go for long term than trading atleast in long term investing is safer than daytrading,so make a decision depend on your capacity

Although technical analysis does not work accurate  in crypto trading but we are trader still need it to know level of price,  i think all trader before doing buy and sell firstly always look in to chart. Make Combination of technical analysis and fundamental is better to predict the price of any crypto. In my opinion TA still usefull for crypto trading.

You might wanna combine it it all your MA, RSI, fibo and MacD for it and whatever that comes along that you learn to somehow work on it but you can't solely rely to indicators though. All the technical analysis are going to be defeated by a fud news though. A single price dip can lead traders to panic and a individual with a lot of BTC can make that happen.

if you are really good in doing analysis, then i think that doing that is the best way to go, because you are going to have a lot of knowledge because of that. Also, it is more convenient if you are doign scalping

Actually TA is used to predict some possibilities, so TA is not used to provide accurate forecasts. It's just that TA tells us a key, such as: volume, exact value, price and market direction based on buy and sell orders.

So far TA can still be used for that, but besides TA there is still FA. Why is that? Because crypto is still new, and many countries have legally not yet legalized crypto. So, it is only natural that people become FUD and FOMO.

There are many indicators and tools available in TA, so which one you should choose? Should there be a different TA for choosing which TA methodology to stick to? What if two indicators give you contradictory predictions? Obviously, they cannot be right at the same time as the price can't go in both directions simultaneously. If you think along this path, you will inevitably arrive at the conclusion that TA is more like a broken clock in essence. It can be right at certain times but how is that fundamentally different from a broken clock showing the right time twice a day?

Technical analysis is a tool used as reference in your decision making yet it is effective if it was not made biased and based in a data were reliable and will get
reliable results.

Technical analysis is just method of price of prediction to know when the price goes up and goes down but the final result depending on the market, we must follow it just because of our technical analysis is wrong doesn't mean it is bullshit, also technical fundamental is method to prediction of the price, the most important is always use method analysis which gives us active profit from trading activity.

That makes a lot of sense and put things into perspective. TA is just a tool among many tools but you need to use it in addition other tools (i.e. fundamental analysis) rather than replacing it. Then TA has it's place.

Although technical analysis cannot assure you success in trading cryptocurrencies, it’s not bullshit. It can offer some help. With the help of technical analysis, traders and investors can predict the right time to enter and exit a trade thereby enabling good returns. Information like support, resistance, chart pattern, momentum of the market, volatility, and trader’s psychology are just some examples of types of information provided by technical analysis. So obviously its not at all some bullshit people have made millions out of it.

we cant completely rule out technical analysis is bull shit but in the bear market technical analysis and less volume in exchanger the market will most move in one direction

Honestly, I'm not much of a fan of technical analysis when it comes to crypto trading. Yes, there are some recurring patterns, but there are also equal to, or more examples where a similar pattern emerged that was followed by unexpected events. I think whilst it works in the short term, e.g. certain signs like the bull flag are quite strong, long term predictions, or predictions based on previous trends are just BS. Stick to the tried and true when trading, it will do better I would expect.

I've done lots of posts about this subject on various threads but I'll sum up some of my thoughts in a very condensed format this time.

Common sense is about 80% of trading.. buy low sell high.. don't get cut by falling daggers... don't fear the blood and view it as an opportunity.

1) If you buy at the bottom of a cycle, there is no danger in your position.. its established a bottom price and usually can only go up from there.
2) Most people who try to do TA do so in what's commonly called the "dumb zone".  You cant play 30-50 sat moves on a daily basis going all in or all out and expect this to work.. thats not really a strategy and will break down.. you're almost luckier if it breaks down the first few times you try it so you won't try it and get really burned when it really matters or learn from the wrong thing and really screw up when you add more money.
3) Prices that something has reached before in sats is much easier to achieve a second time over trying to predict unproven highs.. buy LOW and take the easy money.. wishing welling prices is just emotional and will not help... if you buy tron at 300 sats.. expect the easy returns to be where it overcorrected.. don't hold for unproven all time highs.. if you go 100% into profits on something you better be selling some.  Whales don't care about your long-term goals and will dump on you in a heartbeat to get you to lose hope, panic, and sell to them waiting at the bottom again.

TA is the other 20%.. it helps you min/max your positions by making smarter exits/entries..

Sell below fibonacci retracement resistances and ladder out.. sell some and participate in almost any runup, but save some of your bigger bags to sell at higher prices,. don't go all in or out, just set goals and zones BEFOREHAND so you won't get caught up in fomo or fud.. 80% of my trades happen when I'm not even paying attention.. I set ladder buys and sells on things I'm interested in and it all just orchestrates itself... If my bags get too heavy towards alts, i dump some bags earlier.. if I'm getting kind of skimpy selling upwards, I can become more risky with top exit points.. it should always be a revolving door of covering the top and bottom all the time, no exceptions.. no all in alts 100% ever.

Here is an article I wrote this more in-depth, and talking about the types of TA i use... but like i said TA isn't gonna really do much for you if you don't understand market cycles, avoiding emotional stimulus, and generally buy at the wrong times.

https://bitcointalk.org/index.php?topic=2944431.msg30246763#msg30246763

Let's admit it, TA is no more than a crutch, a mental crutch. Basically, you stick to it when you simply don't know what to do but still want to do something and feel like there's some logic and reason behind your actions. It makes you feel more confident but ultimately it is a false feeling that won't lead you anywhere but most likely right into the red zone. It can help you see the trend but you don't need TA for that as you can easily see it with a naked eye without a lot of mumbo jumbo and hand waving.

Keep it simple, man!

They actually can't predict the right time to enter or to exit. All the different layers within the TA book only make sure that in certain situations you have better odds than the standard 50/50 shots. As long as the better odds make sure traders settle more profitable than losing trades, they have done exceptionally well. The few losing trades that occur are mostly seen as collateral damage. It will be interesting to see how the price will behave once institutions dominate this market with their algo bots. The further we move forward, the less influence retail traders will have with their unstable behavior and emotions. I personally believe that the market will experience less volatility once it happens.

Technical analysis is very good in financial investment and it plays a very good role in big financial markets such as Forex and stock market but in the cryptocurrency market I do not trust too much in analysis. technical because the trading volume is too small so it is very easy to influence the technical data is not accurate.

Yes TA not really work in crypto trading because crypto  has high volatility, any crypto going up more than 10 times just in amonth and this is because that coin has strong fundamental and solid team member . So to maximize profit for the better spend more times to learn about fundamental of the project. Fundamental analysis is more usefull in crypto trading than TA.

In practice, it doesn't work anywhere like that. First of all, it is not about "better odds than the standard 50/50 shots". It is your total in the balance of profits earned and losses suffered which counts in the end, not the number of "shots" and the relationship between misses and hits per se. You can make like 90% losing trades and still come off profitable in the end simply because with just one profitable trade you can cancel out a dozen of losing ones, and with a vengeance. Further, I'm not sure if you can implement this approach and achieve such an outcome using standard TA even theoretically as this has nothing to do with the essence of technical analysis as such.

No, except if they are newbie traders. A lot of traders still make use of TA and it works sometimes, whereas sometimes it does not. Nevertheless, that is how market basically is and for a market as volatile as cryptocurrency, a lot can change things pretty fast, so it is best not to always rely fully on TA or simply keep a very tight stop loss most of the time.

Technical analysis has failed me several times but stop loss will never do. The reason why the stop loss is there is because the possibility of technical analysis failing may be there, so I guess we just have to remember to put stop-loss once we enter the trade. Trailing stop-loss is an improved version which might be possible through the same technical analysis only.

Technical analysis is always very useful but only when you can do it and understand it. I think that the newbie unfortunately will not understand anything in TA.

I dont get it, why it would be bullshit? if you are a trader you must know that trading and technical analysis are like a couple in here , and it is a must

People or most traders do focus out on the trade counts either losing or win ones but i agree that succesibility would matter on the profits you do made no matter how many trades being done. This would entirely depend on how you do manage orders and the risk you putted on. I wont say technical analysis is bullshit because this is commonly an indicator which most traders do make use, might not be accurate but would give you idea or basis on how you would execute your potential move.

There is no legitimate proof technical analysis is working charmingly. But Indirectly when every trader uses the technical analysis to trade, combined they will somehow make the technical analysis valid since its used by many people.

That highly depends on how people prefer to trade. If you trade in a way that 1 trade can undo 10 losing trades, you are not aiming at consistent gains per trade, but just hope to ride the market for a longer while and profit more.

If that works for you personally, that's great, but not every trader wants to follow that system. Consistency (as far as possible) is more important in my opinion. I wouldn't feel comfortable waiting for something that might not happen.

Securing profits when your minimum target has been met is just easier overall. There is no need to waste more time on a trade than needed.

it does not seem to be because I see the analysis technique is not too bad or just nonsense because I see with technical analysis you can determine the right time to buy and sell coin and can be your reference when you want to buy coin.

fundamental analysis is likely more BS than technical analysis. you can thrive in trading just by TA alone.

I used to think that Crypto was all about speculation and would buy news stories only to get dumped on hours later. TA can teach you how to recognize patterns and make calculated moves like buying on support and selling at resistance. It really improves your confidence making moves, and even when you're wrong you can learn why and try to improve for the next trade.

That would be right. Technical analysis gives you a perspective of when to buy and when to sell. There are different kinds of traders that uses different kind of strategies. Just because one is not successful in trading technical analysis or fundamental analysis doesn't mean that it is not effective. We all have different strategies in approaching the market and there is not so called "holy grail" in trading because no one can predict the future. One cannot say that the strategy of one person is more effective than the other because it would be a matter of being a consistent profitable trader.

Technical analysis is a very useful and useful job that gives us a great deal of knowledge and broad understanding of the insights through analysis as well as what we already know.

Technical analysis is not a silver bullet ... Same can be said with fundamental analysis

The real problem that there is no standards body or certified advisors when it comes to technical analysis and fundamental analysis in the crypto world. What then happens is that the people you tend to follow slip up or don't make sense which causes losses.

This is the problem with technical analysis as such. Technically (no pun), you cannot prove it being ultimately wrong because you can always find a method, instrument, or indicator that would predict a correct outcome, in hindsight. On the other hand, fundamental analysis is different in this respect as it cannot be wrong or right depending on the chosen instrument. In other words, if done right and properly, it will give you more consistent results in the long run. Ultimately, it reflects your understanding of the factors that affect the price of an asset you are interested in, how well you know this asset.

TA is a great tool for measuring risks/rewards ratio. Support and resistance levels are very important imo. But to buy or sell coins based on indicators is stupid and people will get rekt sooner or later blindly following this strategy.

It works, but sometimes not because we cannot really determine if the price will go down or up. But using technical analysis is much better when buying and selling rather than using a hint.

I definitely see what you are trying to say, but with that attitude I can't understand what you (or people you are describing in your post) are doing in this business (I mean trading, of course). You can't possibly do consistent profits in trading unless you can milk the market in some way, but you would likely be in the 0.1% market strata anyway. For the rest of the pack it is the relationship or balance between losses and gains which is their element and natural habitat. But in that case you can't talk about "consistent gains per trade" unless you mean averages. And with averages there is no difference between 1 winning trade versus 10 losing trades and 1 winning trade versus 1 losing trade as it is all averaged in the "gains per trade" metric, which would be the same in both cases provided you earn and not lose overall.


Then you will earn dust. Fortunes are made (as well as lost, for the record) with long-term holding, not petty trading.

TA is just a tool that gives you an insight about the specific coin but when the market is bad and everyone sees loses than it is up to you to not base your investment only on one factor .

You might have some other opinion but like everyone knows if we don’t have any knowledge or technical analysis, this can of great loss to you. We may lose something extraordinary because we might not be able to detect the flaws and problems in market. With technical analysis, we are able to see some aspects of market. With that, your results can be increased or enhanced.

Only some aspect but not on general means but i believe most of traders do make use of this one because trading up without any basis is just like doing things completely random.Ive been using TA all the way when i do make trades might not be accurate or do give good results anytime but somehow it do manage me up to make me stay on the positive side which indicates it is simply effective and not totally a bullshit thing.
This would depend on how you gonna use it because as far as i experienced there are times prices do go along with those technicals.

Technical analysis is not bullshit it is the key to a successful trade, now I the cryptocurrency world it does not always work because in the time it takes you to have a thorough technical analysis o the market, the market has already changed therefore its considered bullshit.

For a daily trader technical analysis is as important as numerical analysis, and when you look at the numerical analysis, it is easier to do and takes less time but the rate of success usually low but its an important tool for confirmation

Using technical analysis, you can increase your chances of correctly predicting the price movement, but it is impossible to predict anything with 100% probability without insider information. Technical analysis works, just try using other methods for analysis.

I think Technical analyses works more better with forex , futures and options. I am yet to try it on cryptocurrency trading because i believe that crypto has to do so much with market sentiments. So i care less with TA on crypto.