Does technical analysis work with crypto?

[mvplol]

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?

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[vv181]

Well, if you didn't know anything about it, then how you going to buy a coin?. Technical analysis is necessary to find a probability of the markets. There is no real proof that technical analysis is really useful, but one thing I know is many great traders definitely used it as a guide for their trade. so, indirectly the technical analysis become valid and legitimate.

[Restmand]

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?

It is a good part if you are going to learn how to read charts so you wil be going to have some information and knowledge on what coin is good and best for you. Also you will be going to have reference on what coin has attenuated and flactuated value this will help you on deciding on your short term and long term plan in investing. This will also help you on deciding when to sell or trade and also how long are you going to hold your coin.

[MoonIsBlue]

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 not absolute but it shouldn't be discarded entirely. I use TA myself for entries and exits but I sure don't daytrade, TA just isn't everything but it isn't nothing.

[berrymenalo]

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 not absolute but it shouldn't be discarded entirely. I use TA myself for entries and exits but I sure don't daytrade, TA just isn't everything but it isn't nothing.

^^ THIS!! ^^

Instead of technical analysis though, you might do better with dollar-cost averaging. It's a bit riskier with cryptos than with stocks because the volatility is more pronounced in cryptos, but done for long-enough, you'll do better than most assuming the market remains profitable over time and you pick the right coins to get into

[prehisto]

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?

To be honest in the past I had the same idea that technical analysis do not work on crypto.
Now , I am slowly learning instruments that have some value and I have to say that there is value. In my view the bottom line is that all of this is just psychological movement as in stock market and other markets.

[entemeister]

They can be a guidance for short term trading but you have to be a little skeptical because many times these analysis are wrong

[mu_enrico]

Yes, TA work with cryptocurrency. However it has some limitation, mainly related to low cap (iliquid assets).
For liquid assets, you will find many useful line, such as 100 MA, 200 MA, etc.
But like any other market, TA alone cannot be used to make a decision
You still need guts, luck, intuition, etc.

[Xardasim]

Usually technique analysis useful for financial tools that have a history. In cryptocurrencies there is no big scale of price movement history that can be analyzed with known technical indicators. Fundamental analysis is more reliable than other analyses. Bitcoin is more compatible than altcoins no matter which analyse  you gonna to use.

[Steadfast20]

Its an analysis only and it cannot say that the price of coin will increase or not. Its only a basis and if technical analysis always works then no one is supposed to be losing in trading

[xiaoxz]

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?

No, I do not think so, I think in most cases is still useful.
A friend of mine is to rely on technical analysis to make a lot of money. Just cryptocurrencies are different from stocks, they have their own characteristics, so when you are analyzing, you have to consider those special factors.

[mvplol]

Thanks guys. Some useful points here. Looks like it's worthwhile to learn the basics.

[KTPU777]

Technical analysis in the market of crypto currency does not really work. It should be studied only in order to be able to read graphics and understand what is happening on them. There are a lot of manipulations in the crypto currency market. And manipulation will never be adjusted to technical analysis.

[cryptotsunami]

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?

It is good to have a knowledge how to  read charts and make your own technical analysis. It is your advantage to avoid certain loses but it is not very reliable in every coin specially in bitcoin. But at least you already have an advantage over the others.

[sedahan13]

Its work but not 100% could be just about 70% , the crypto market is has lower volume compared other market like stock so many price of crypto just like pump and dump. But learn the fundamental of crypto will more help for long term investment.

[Daria_daria1992]

In this market, technical analysis alone does not work.  Here  rely more on the news output.  But the main thing here is the behavior of bitcoin.  If bitcoin falls, the altcoins almost always fall with him.  And then the news on altcoyins is no longer important).

[Omnia Vanitas]

It depends: it work fine in standard situation, so you can predict with decent accuracy the small fluctuations.
Of course, in no way  technical analysis can predict sudden explosion of a currency.

[brelok777]

The course is influenced more by the manipulation of the market (news background, events). What kind of news background will create manipulators - so will the course. And the technical analysis does not work to the full in the market of crypto currency. The basics of technical analysis of course need to know. But nothing more.

[EMV]

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?

The matter is that the market of cryptocurrencies is characteristic a rough news flow and high volatility. Traders who react, for example, by a traditional method of bad and good news often have no advantage, the market changes very quickly, and news about cryptocurrencies get to media reluctantly and with a big delay. In too time those who prefer the technical analysis, can thinly monitor a situation and react to the changes in price beforehand.

[hamster fat]

I think that technical analysis is almost the only thing that works. And to successfully work in the market you need to know at least the basics of technical analysis. Of course, it is not a guarantee, but it greatly increases the chances of success.