Does technical analysis work with crypto?

[wuclx]

Some heuristics is enough in my opinion. Like recognizing a double bottom for example. On the other hand looking at n-day averages is rather pointless.
When looking at buy opportunities I would try to individually look at each chart, compare it with the current progress of the project etc.

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[Dimedroll]

Yes, TA work with cryptocurrency but not in small markets.
For liquid assets, you will find many useful line, such as SMA or EMA.
I use indicators such as ADX and ATR.

[xenomorphe1]

Yes, technical analysis works for crypto too.

[Kinoman]

Technical analysis works only when the market is stable and there is no negative news. But if there are any external factors, then the analysis stops working and the price becomes unpredictable.

[sugihe]

I've been thinking about starting to learn how to read charts and do some technical analysis for myself. The problem is I see it ridiculed on pretty much every forum and people saying it's useless for crypto.

What are your thoughts? Worthwhile?

Its still work but not high accuration because fundamental is the most one will be more accurate.
Learn both of analysis will give more chance to win in trading because both two are the best analysis.

[Thardz07]

Technical analysis help you to study the fluctuation of a coin. But a little bit help for a stable fluctuation. You should study and gather some informations from all of whales because they are the cause of manipulations of price. You can ride with them.

[alt-fire]

You can not trade only on technical analysis, the market is influenced by many factors.
but you can not ignore it.

[stripykitteh]

You can not trade only on technical analysis, the market is influenced by many factors.
but you can not ignore it.

Technical analysis can work for some coins, if the volume is too random and has no common trend then it will be tough.

[muncuss]

Technical analysis works only when the market is stable and there is no negative news. But if there are any external factors, then the analysis stops working and the price becomes unpredictable.

yeah crypto isn't like forex, sometimes market is stable and sometimes like a storm. when market is unstable, fundamental analysis does the work

[mahimonliner]

Technical analysis are needed for crypto. Well if you dont know the basics you going to fail to choose buying or selling points. But yes Crypto market moves with news and almost every successful traders use news for trading crypto with obviously technical analysis.

[Damsel_7]

I've been thinking about starting to learn how to read charts and do some technical analysis for myself. The problem is I see it ridiculed on pretty much every forum and people saying it's useless for crypto.

What are your thoughts? Worthwhile?

Technical analysis' usage fits for crypto because it is used for day or swing trading from short to medium term trading. Technical analysis serves as a guide for traders. They’ll use indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD). They also watch the charts for trendlines and others. Many also says the technical analysis doesn't fit for cryptocurrency because of its volatility it is only good for stable and predictable markets like forex and stock market.

For me, in every subject, technical analysis is useful this serves as a reference The past data makes you analyze how did you perform in the present. Events happened in the past will give your direction on what to do for the next. So in bitcoin though it's hard to forecast but you have the trend because of reference/comparative data.

[makuhpal]

I've been thinking about starting to learn how to read charts and do some technical analysis for myself. The problem is I see it ridiculed on pretty much every forum and people saying it's useless for crypto.

What are your thoughts? Worthwhile?

Yes it is,people who are saying its not working doesnt know how to use or  they are morelikely doesnt have any idea in how to use any of these technical indicators.Technical anlysis really works if you know what you are doing,learn some basics trading in investopedia that is where i learned a lot about technical analysis,fundamentals are also has some big part on how a coin will do in the market.

[madtea]

I totally recommend you to learn it if you want to make better trades. There are tons of videos about technical analysis in youtube and is less intimidating than it looks.

[bucksman5233]

You can not trade only on technical analysis, the market is influenced by many factors.
but you can not ignore it.

Exactly, though technical analysis is more like emotions but it works actually for example support and resistance levels. Depending only on the technical analysis is definately a bad idea because a simple negative news can take down the coin and a simple positive news can help the coin to take off to next levels.

[Hamphser]

You can not trade only on technical analysis, the market is influenced by many factors.
but you can not ignore it.

Exactly, though technical analysis is more like emotions but it works actually for example support and resistance levels. Depending only on the technical analysis is definately a bad idea because a simple negative news can take down the coin and a simple positive news can help the coin to take off to next levels.

We couldn't do anything about it if people really believe on the fake news or FUD they hear or read but using a technical analysis is a really big helps to compare each coins. Specially during in the fluctuation of each coins, you will have a good idea upon looking at it. The market have some kind of patterns that most of us won't see it but regarding to your all knowledge you could see it too if you are very familiar in the market movements.

[cryptopuma]

I've been thinking about starting to learn how to read charts and do some technical analysis for myself. The problem is I see it ridiculed on pretty much every forum and people saying it's useless for crypto.

What are your thoughts? Worthwhile?

Technical analysis indeed working for most of the time,but in our volatile market which most of the new investors are getting FOMOs fundamental analysis are more dominant than technical analysis,but it doesnt mean that we should take it for granted.I am doing marginal trading using technical analysis and it is working like a charm.

[LeroyBro]

While not 100% accurate, it can indeed work and is of course better than no analysis so.

[Fredomago]

Technical analysis are needed for crypto. Well if you dont know the basics you going to fail to choose buying or selling points. But yes Crypto market moves with news and almost every successful traders use news for trading crypto with obviously technical analysis.

We can use it as basis to check out but not really a tools as crypto trading really have a lots of sway unlike forex or stocks where the movements came from the charts, I think wise traders always find advantage and using analytical analysis will be a good way to assess whether to support coins or not
just always do your homework and keep your eyes open each time your analysis is getting somewhere.

[jimmywh]

I think technical analysis works great with cryptos. My only problems with technical analysis in cryptos are two things:

1. I only manage to make money trading in a bullish market.
2. The range trading is sometimes crazy on cryptos. This means that small time traders like myself never get in on the very bottom, or out on the very top. In a very volatile market it makes it difficult to make money. In december Ripple had a pretty simple trading pattern, where trading via technical analysis was a very viable and profitable option, but in the end I would have ended up making more money by just holding.  

[Djabba]

I've been thinking about starting to learn how to read charts and do some technical analysis for myself. The problem is I see it ridiculed on pretty much every forum and people saying it's useless for crypto.

What are your thoughts? Worthwhile?

I have long history of using technical analysis and i am definitely going to use it in future as well. In my opinion the cryptomarket is stabilizing with the time. It is starting to follow the rules of old school markets. So with the time the technical analysis will be more in demand. To support what i'm saying i can point to the fact that just recently big change happened in crypto. If you remember before the alts were dropping in price every time when btc would go up OR down. But not anymore. Now alts are following btc. Another thing is that soon alts will not depend on the btc as much as now. Some other coins will take same role. Last news are showing that eos can be one of them. That way the market can become less controlled and more stable. That is when analysis will become handy. But even now the analysis can be used for short trades. Just try to use rsi, stoch and macd for short trades and you will see how it increase your chances