Does technical analysis work with crypto?

[chutchmcgillicutty]

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.

Yeah, I'd view it as a tool in your investment toolset, it can be helpful if you are trying to time markets and project best times to buy sell. But if you are a HODLer, it has limited applications other than projecting when to buy

[khufuking]

Let me tell you from my experience , Not all TA is useful but for sure learning basics is a must if you want to start crypto trading . There is only couple of TA tools you should really learn , The rest is not effective . The bottom line is crypto is not like trading forex ect.. ,  it is totally different thing so you should treat it the way it really is .

[cryptamod]

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?

Fundamental analysis are more dominant in cryptocurrency market because it only takes one FUD to take down our market like what happened to INDIA fud.People are easily getting panicked when they have read some negative news even the source is unknown which is funny,technical analysis on the other is another thing to be considered if you are trading short it is recommended to use technical analysis because most of the charts are following technical analysis.

[BCTBF]

Analysis technique partly works but not fully successful, have you ever seen a posting of people who say ethercoin will reach 500$ and alternate currency will follow in the footsteps. I do not think that analysis is unimportant I must read every day of today's market movement.

[sourish]

Some of the top stock traders use Technical analysis techniques successfully. Knowing these patterns Can help find profitable opportunities for entries into Cryptocurrencies. Its complicated, involves a lot of study and research, and if you want to give it a shot, go ahead, you definitely cannot lose with a medium that is predictive and holding so many variables.

[MaiQwaN]

Many experienced traders use technical analysis for their daily trading. Often, this method produces a good result because you need to rely on at least something when making a decision to buy or sell. Crypto lives by itself.

[EricExxo]

You should combine technical with fundamental analysis when analyzing trends.

[tinof]

You should combine technical with fundamental analysis when analyzing trends.

Both technical with fundamental analysis can be useful up to certain level. The fundamental truth is that money are controlling the markets.

[grchina]

Not with shitcoins and small caps as 1 whale can control the price,for medium caps is 50/50 but they2 are more about news about the project then ta.If you wont to use ta you are best using it on bitcoin as other coins most of the times follow the same path as btc and a single whale cant really control its price

[oscarrsm]

I personally do not do deep technical analysis myself. However, I read and watch the forecasts of those who have a lot of experience in this. As a rule, they expose two types of analysis pessimistic and optimistic. How the market will behave and what kind of forecast will come true - no one knows. You can try to predict and assess the current situation. However, one bad news from some kind of government of some country - will destroy all your forecasts in a jiffy.

[cryptobrotherz]

In my opinion, technical analysis is one tool that is valuable. However, as with any tool...you cannot rely on this one tool as your only source. You need to gather as much data as possible both from analysis and the general "feel" of the environment as a whole. Might sound strange to some people but a little bit of FUD can move a market a great deal depending on the trading volume.

[samtarly]

Analysis technique partly works but not fully successful, have you ever seen a posting of people who say ethercoin will reach 500$ and alternate currency will follow in the footsteps. I do not think that analysis is unimportant I must read every day of today's market movement.

Agreed, i think part of this being not that much of an impact in crypto trading is the volatility of the cryptocurrency, unlike in stocks trading where significant changes in value takes too much time in cryptocurrency based on history of the market of all crypto you could see a 1000% and above changes for some alts that happened in just a couple of hours with real trading volume.
Yes technical analysis is an advantage as a crypto trader but we can't rely on it all the time.

[hazznel]

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?

There are plenty of tutorials and guides on how to read through an ICO and see if it's crap or if actaully is worth something.

[slava88]

I think, it works, but just on stable market. TA is very affected by FA in crypto, so any bad or good news could crush any predictions. Buy the news - sell the rumors - the best TA in crypto 

[omergstarik]

Definitely it works.Technical analysis is very useful in the business of learning.You can even predict by looking at the technical analysis without knowing anything.

[pikebu]

Analysis technique partly works but not fully successful, have you ever seen a posting of people who say ethercoin will reach 500$ and alternate currency will follow in the footsteps. I do not think that analysis is unimportant I must read every day of today's market movement.

Well i think we must combine between analysis technical and fundamental of alternative coins/investing in ICOs before we make investment in them, personallity i have used analysis technical to prediction of movement price when short time investment usually in trading altcoins and it was worked, also i have used analysis fundamental of alternative coins/ICOs for long time investment. I have used them analysis technical and fundamental.

[hotkhotk]

From what i learnt in one year; technical analysis do not work most of the time. Bam bam bam is the most handy solution 

[plastcom]

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.

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[illnino]

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 rely on my experience and intuition only. These are two parts of my success. Technical analysis seems too difficult for me to operate with. If I need it I will try to start from analyzing the most popular currencies.

[lasry]

Aside for technical analysis, Statistical analysis works best for this kinds of things. Why? If you would venture more you will see how this whole thing works. Why the prices drops? why and how it rises? Why do we need a correction, you will be able to answer clearly answer those things. A statistician might treat this whole thing a big data. And for someone who can understand what lies beyond that big data, It would be a great advantage for him or her.