Technical analysis on btc or better just rely on fundamentals and news?

[xfaqs01]

do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..

I go for both but to quantify them the ratio would be 70% technical analysis and 30% fundamental analysis, but for alternatives coins 80% would be fundamental analysis and 20% for technical analysis as altcoins are highly volatile ang its price is driven mostly by pump and dumpers, medias, current news or events and whales manipulation. Just my cents as a trader, whats yours?

[xfaqs01]

A trader to be specific should not rely just one thing to trade on the particular asset. As you say Bitcoin is no ordinary asset, it derives various things for it to be analyzed. There are multiple things that can be used to analyze Bitcoin and they should all be used in order to predict accurate results.
So whether it be technical or fundamental analysis, use everything for better outcome.

Use any sources available on us. Having btc now and knowledge in coins and in trading can help us more in earning. We should be updatwd still in news and graphs record.

I agree graphs/ charts news/events are our weapons as these 2 are related to each other, what the charts show reflects as to what the news is and what the latest news is, reflects on the charts,

[PrinceCaspian]

Both are required for having a good sight in trading, you need to do some fundamental analysis for your first estimation in the market and second is the technical analysis for some confirmation or verification that the coin is a good to buy or sell.

[CoinsCoinsEverywhere]

do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..

I go for both but to quantify them the ratio would be 70% technical analysis and 30% fundamental analysis, but for alternatives coins 80% would be fundamental analysis and 20% for technical analysis as altcoins are highly volatile ang its price is driven mostly by pump and dumpers, medias, current news or events and whales manipulation. Just my cents as a trader, whats yours?

I agree with this for the lesser/no-name alt coins.  You need a market that's at least somewhat mature for technical analysis to be useful.  Along with bitcoin, I would think (although I haven't looked into it) that trading other majors like Ethereum and Litecoin, and perhaps some of the others like Dash, Monero, DOGE, etc., would benefit a lot from using TA.  There needs to be some balance in the market--if everyone's just dumping a coin, it's not going to behave well from a TA perspective.

[Nerman]

I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and  Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.

 I usually just use support and resistance along  with moving averages  in my cryptocurency chart.

Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.

Really?  Which cryptos have you looked at?  I mostly just look at bitcoin, for which TA seems to work pretty well.  MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well.  Support/resistance breaks commonly lead to a rush to the next level.  Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect.  The same was true on the way down to $3000.  The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern.  It was a little sloppy, but it was there.  I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument.  Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.

I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading.  I do not know if Im not able to adopt to crypto charts or I need to view the charts differently.  I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart? 

[romecheo]

Bitcoin are far more different from other crypto currencies, in my own opinion technical and/or fundamentals analysis are no longer necessary.

News can make big impact on the value of Bitcoin.

[CoinsCoinsEverywhere]

I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and  Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.

 I usually just use support and resistance along  with moving averages  in my cryptocurency chart.

Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.

Really?  Which cryptos have you looked at?  I mostly just look at bitcoin, for which TA seems to work pretty well.  MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well.  Support/resistance breaks commonly lead to a rush to the next level.  Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect.  The same was true on the way down to $3000.  The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern.  It was a little sloppy, but it was there.  I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument.  Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.

I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading.  I do not know if Im not able to adopt to crypto charts or I need to view the charts differently.  I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart? 

Weeks and months--ok, yeah, that makes more sense then.  Cryptos are so ridiculously volatile that week/month charts for cryptos are probably like year/decade charts for stocks.  The highest I go is the daily chart.  I often go down to 30-min and occasionally even 5 min for extremely volatile times (like right now).

For trading purposes I think it's important to look only at the major ones.  The lesser/no-name ones that pump-pop-and-die don't really follow much in the way of predictable TA patterns.  I've pretty much just kept an eye on bitcoin.

I would also note that I'm not a huge trader, in part because I don't have time to watch the charts continuously.  But I have taken a few successful intra-day bitcoin trades (without losers), and I watch for MACD-price divergences a lot, and they look like they indicate directional exhaustion pretty well.

[Nerman]

I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and  Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.

 I usually just use support and resistance along  with moving averages  in my cryptocurency chart.

Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.

Really?  Which cryptos have you looked at?  I mostly just look at bitcoin, for which TA seems to work pretty well.  MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well.  Support/resistance breaks commonly lead to a rush to the next level.  Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect.  The same was true on the way down to $3000.  The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern.  It was a little sloppy, but it was there.  I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument.  Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.

I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading.  I do not know if Im not able to adopt to crypto charts or I need to view the charts differently.  I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart? 

Weeks and months--ok, yeah, that makes more sense then.  Cryptos are so ridiculously volatile that week/month charts for cryptos are probably like year/decade charts for stocks.  The highest I go is the daily chart.  I often go down to 30-min and occasionally even 5 min for extremely volatile times (like right now).

For trading purposes I think it's important to look only at the major ones.  The lesser/no-name ones that pump-pop-and-die don't really follow much in the way of predictable TA patterns.  I've pretty much just kept an eye on bitcoin.

I would also note that I'm not a huge trader, in part because I don't have time to watch the charts continuously.  But I have taken a few successful intra-day bitcoin trades (without losers), and I watch for MACD-price divergences a lot, and they look like they indicate directional exhaustion pretty well.

Thank's for the info man  i am going to check it in hours or in  minutes to be honest i never thought of that since i am very used to stock trading. I will try this trading style and check if it will work for me. If it doesnt i can always go back to the way i trade since it is working for me.

[CoinsCoinsEverywhere]

I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and  Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.

 I usually just use support and resistance along  with moving averages  in my cryptocurency chart.

Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.

Really?  Which cryptos have you looked at?  I mostly just look at bitcoin, for which TA seems to work pretty well.  MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well.  Support/resistance breaks commonly lead to a rush to the next level.  Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect.  The same was true on the way down to $3000.  The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern.  It was a little sloppy, but it was there.  I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument.  Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.

I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading.  I do not know if Im not able to adopt to crypto charts or I need to view the charts differently.  I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart? 

Weeks and months--ok, yeah, that makes more sense then.  Cryptos are so ridiculously volatile that week/month charts for cryptos are probably like year/decade charts for stocks.  The highest I go is the daily chart.  I often go down to 30-min and occasionally even 5 min for extremely volatile times (like right now).

For trading purposes I think it's important to look only at the major ones.  The lesser/no-name ones that pump-pop-and-die don't really follow much in the way of predictable TA patterns.  I've pretty much just kept an eye on bitcoin.

I would also note that I'm not a huge trader, in part because I don't have time to watch the charts continuously.  But I have taken a few successful intra-day bitcoin trades (without losers), and I watch for MACD-price divergences a lot, and they look like they indicate directional exhaustion pretty well.

Thank's for the info man  i am going to check it in hours or in  minutes to be honest i never thought of that since i am very used to stock trading. I will try this trading style and check if it will work for me. If it doesnt i can always go back to the way i trade since it is working for me.

You're welcome.  But please be careful.  I haven't done any actual backtesting, so I don't have any statistics that definitely say that this is a great idea.  If you already have something that works, you may want to just stick with that.  As the saying goes, "if it ain't broke, don't fix it."  One of the biggest mistakes traders can make is abandoning something that works for them for something they hope will be more profitable (which often ends up not being the case).

[Prettyme]

do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..

Yes in trading you really need technical anlysis. You can never gain big profit if you buy and sell without any analization. In trading you should consider the price you should know when to buy and when to sell so that you can gain big profit.

[katiecbell]

I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and  Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.

 I usually just use support and resistance along  with moving averages  in my cryptocurency chart.

Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.

Really?  Which cryptos have you looked at?  I mostly just look at bitcoin, for which TA seems to work pretty well.  MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well.  Support/resistance breaks commonly lead to a rush to the next level.  Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect.  The same was true on the way down to $3000.  The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern.  It was a little sloppy, but it was there.  I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument.  Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.

I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading.  I do not know if Im not able to adopt to crypto charts or I need to view the charts differently.  I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart? 

Weeks and months--ok, yeah, that makes more sense then.  Cryptos are so ridiculously volatile that week/month charts for cryptos are probably like year/decade charts for stocks.  The highest I go is the daily chart.  I often go down to 30-min and occasionally even 5 min for extremely volatile times (like right now).

For trading purposes I think it's important to look only at the major ones.  The lesser/no-name ones that pump-pop-and-die don't really follow much in the way of predictable TA patterns.  I've pretty much just kept an eye on bitcoin.

I would also note that I'm not a huge trader, in part because I don't have time to watch the charts continuously.  But I have taken a few successful intra-day bitcoin trades (without losers), and I watch for MACD-price divergences a lot, and they look like they indicate directional exhaustion pretty well.

Thank's for the info man  i am going to check it in hours or in  minutes to be honest i never thought of that since i am very used to stock trading. I will try this trading style and check if it will work for me. If it doesnt i can always go back to the way i trade since it is working for me.

If you are pretty good at trading, then I will also suggest you going for this trading style. You should try as many thing as you can in this digital world because there are many treasures hidden, all that you need is to explore them.

Trading is a great option of making money with digital currencies but for that you need sound knowledge and good market analysis. Crypto trading is better than stock one.

[Ilegendph]

do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..

Yes its no ordinary asset like forex and stocks but the main difference is its volatility. Bitcoin is highly volatile compared to forex and stocks that needs a couple of months to double the money invested. Unlike in bitcoin it may take only a week for trading. News have greater impact to bitcoin but the goods news here is that many people starting to invest in bitcoin and let say this people is loyal though there is a scary news that will doomed the bitcoin. Then the price would go down not as down that it would not have value. That's why you need technical analysis, the example I mentioned earlier is a kind of opportunity that a beginner wouldn't notice.