Is technical analysis useful?

[rajkr]

Technical analysis is important and one can know about the trend of perticular coins whether it is uptrend or downtrend,what is support and resistance level,i.e. required for trading aspects.But for long term investment,it is more important to know about fundamentals of coins.

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[Huy Mai]

Yes , mostly in my opinion. Sometimes, like current market now, you can see the technical analysis is not enough. All altcoins are following bitcoin because of high dominance of bitcoin.
But mostly we can apply technical analysis to trade or hold our altcoins. You have to learn these skills if you do not lose your money in cryptocurrence market.

[ufalo3]

The analysis provides me a better insight to get in and out. It's just one of the tools I use.

Technical analysis is very useful but not for a beginner. Let the newbie understand the TA, and he will fail to do it. He has to have some experience.

[bluemoon84]

 You must take note that this is not 100% fail-proof analysis. TA just provide you some useful information that can help you in your trades. There are many factors that affects the success of your trades and you shouldn't solely rely on the data being provided by ta.  Even if you think TA is complete garbage.. use common sense when trading.. do not buy things in parabolic runups and dont buy coins all at once price (make sure to ladder into positions so you cost average.. and YES sometimes that means you will miss some of the bottom.

[kaineh]

Of course, it is. But I believe that one should put a lot of time and effort in order to get to the level of becoming a decent technical analyst.

[KXC247]

Technical analysis is very much useful in the crypto market. It can be used for know the direction of price as this can make you make your decisions better. It should also be compared to fundamental analysis before trading decisions are made

[mudasarali43]

The technical analysis is sometimes useful but it also takes a lot go your time so if you are a day trader then thorough technical analysis is nothing that you should give more priority so it all depends on how much time you have available,

[bitcon]

I think that you should use the fundamental analysis as well! it will be even more helpful than the technical one. i think so because i have some experience in this question and can say this taking into account my failures

Although technical analysis is something that is very useful, I do not use only this stuff to make my crypto price predictions. I make the charts myself and I am always following the information from the market.

[Cryptokarl]

In cryptocurrency,  technical analysis is very good if you understand how to read the charts. However, its good to combine both technical and fundamental analysis to be able to come up with a good decision for trading

[cryptotrade007]

Technical analysis can be useful, but I think that the bigger market changes are where the opportunities to make profit really lie.  So, yes, T/A is useful, but I don't find it useful enough myself.

[parlament9]

Yes, I trust! I think that the technical analysis doesn't work for the one who isn't able to apply it)
And in general it is really good question since the technical analysis in the market of cryptocurrencies rather disputable tool, it should be taken into account not only him here, but also the amount of funds and a huge set of other parameters, but often it is the excellent tool to which I trust

[Xeon]

There are no doubts that an in-depth market research and technical analysis are both very useful. They allow you to study the market tendencies. You need to determine the most effective strategy and use it in order to achieve your goal

[weblaraveluser]

Yes, I trust! I think that the technical analysis doesn't work for the one who isn't able to apply it)
And in general it is really good question since the technical analysis in the market of cryptocurrencies rather disputable tool, it should be taken into account not only him here, but also the amount of funds and a huge set of other parameters, but often it is the excellent tool to which I trust

In my own opinion, technical analysis is necessary because conducting your own research will give you legitimate information to determine what will be going to happen in the market prices in the next few months.

[FalcoonRed]

very useful because the key to successful trading is a sharp analysis, if you are smart to analyze your coins will be successful.

[Stiven1999]

In technical analysis, most indicators used are formed based on past occurrences. However, technical analysis for me, serves as a guide to know the flow and direction of the market and when been combined with fundamental analysis, yields a better result

[TinnemaX]

Technical analysis on the cryptocurrency market is based on history and it can't predict the future. Therefore, I think technical analysis doesn't work.

[imsotiredofmoviereboots]

I think it is only useful to know the sentiment of the traders but sometime you really just need common sense. If the market just keep decreasing and only FUD comes out then you don't have to do those complex FIBs and just assume that things are just not going to rise.