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Author Topic: Does technical analysis work with crypto?  (Read 1298 times)
Didin
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December 03, 2018, 11:27:19 PM
 #121

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 very useful for crypto. especially in margin trading. You need to have a good knowledge of technical analysis to predict its price will increase or decrease in a short period of time.
In a cryptocurrency, by and large, technical analysis does not work. Here, the volumes of real trading are not so large that there is genuine technical analysis.

technical analysis is to predict the markets with some kind of tools such as indicators and the purpose we use a technical analysis is to predict the market with all the probability my friend,, so, we can set a stop loss level and profit taking level by using a technical analysis
for me its work in crypto

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December 04, 2018, 01:39:03 AM
 #122

Analysis still works and to those that are saying that its no longer working.

I guess they gave up and all of their TA's were failures so that's why instead of pursuing TA's, they are just telling others that this isn't going to work anymore. Someone who isn't really good in reading charts shouldn't TA but he can practice and learn from it.

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December 04, 2018, 02:14:02 AM
 #123

Are you serious? Technical analysis has been used several times before to predict a bunch of reactions about the price, not talking about altcoins, i am reffering to bitcoin.

It is almost impossible to use TA with low volume altcoins (less than a dozen of millions) so yes, in this case, you are right with that.

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 very useful for crypto. especially in margin trading. You need to have a good knowledge of technical analysis to predict its price will increase or decrease in a short period of time.
In a cryptocurrency, by and large, technical analysis does not work. Here, the volumes of real trading are not so large that there is genuine technical analysis.

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December 04, 2018, 05:45:54 AM
 #124

I think this analysis technique can work when the price movements are the same and very easy to predict but you have to know that the cryptocurrency price movement is very difficult to predict so you have to be careful when you want to buy coins.
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December 04, 2018, 05:46:37 AM
 #125

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 works for every kind of investment, including Bitcoin and other cryptocurrencies. If you don’t know anything about it, then its of no use investing in it. But as usual, analysis won’t be 100% accurate. If you have been following with it you should have noticed that by now. They will make predictions but it won’t be exactly as they said.
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December 04, 2018, 06:27:46 AM
 #126

Technical analysis sure have it's influence on whether you make a profit or loss! Technical analysis is particularly useful when the market is stable and you can actually chart a trend and have an insight to see prices in short to medium term basis!

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December 04, 2018, 06:28:43 AM
 #127

I am not sure about it, but probably levels of support and demand should work. Also think about liqidity.
Without liquidity technical analysis doesn't work, so select the most liquid crypto like ethereum, bitcoin.

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December 05, 2018, 10:58:00 PM
 #128

Technical analysis assumes cyclical repetition of certain processes and psychological behaviors. I think it can work in very short periods of time (a few hours, a maximum few days). The cryptocurrency market is still small, which is why it is not resistant to manipulation of whales. It is enough that one large investor decides to take action and technical analysis stops working. Therefore, it is very risky to use technical analysis on the cryptocurrency market.
Technical analysis is not that limited, there are many traders that are making money and are not using charts with very short periods of time, after all the psychology of people does not really change just because you change the period of your chart, what happens is that very few people can use technical analysis in the right way because even when they devise a way to beat the markets people do not follow their own strategy.



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December 06, 2018, 12:26:45 AM
 #129

In my opinion, technical analysis works well only at the time when the market have flat. At such a time, you can fully rely on technical analysis, but if you always rely on it, then nothing good will come of it. Too many factors influence cryptocurrencies usually, so you should never rely entirely on technical analysis.
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December 06, 2018, 01:30:33 AM
 #130

There are daytraders who use technical analysis to invest in Bitcoin at very short time intervals. Unfortunately, TA does not work for longer periods of time, nor for altcoins, because their price changes are too large.

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December 06, 2018, 08:54:26 AM
 #131

I think this analysis technique is only used to provide information about the price movements of coins that have occurred so that it can help you to determine the cryptocurerncy price movements that will occur, but I am sure it is not entirely accurate because the cryptocurrency price movements cannot be predicted.
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December 06, 2018, 09:36:55 AM
 #132

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?
trading is understanding and if you have no knowledge on how trading work there is no need of investing in it.  I could remember how I lose money in 2008 through forex trading.  I believe that your knowledge and experience is the most important thing in trading and that is what you should strive to achieved.
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December 06, 2018, 10:26:29 AM
 #133

Yes it works but you have to understand that this market has very low liquidity which means very very volatile and the speculations are relatively easier than the traditional markets. Because of these conditions, just the probability is lower.
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December 06, 2018, 11:09:06 AM
 #134

We kniw that technical analysis is not a 100 percent reference. Now trying it in crypto may even bring that accuracy as a reference at 20 percent or below. Now if you think that is worth all the trouble as a reference feel free to let us know.

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December 06, 2018, 11:22:36 AM
 #135

Yes, it works but not everytime. And as liquidity is very low, volatility is very high. There is also big manipulations with pump and dump groups and fake news to hype a coin.
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December 06, 2018, 12:55:09 PM
 #136

Yes, it works but not everytime. And as liquidity is very low, volatility is very high. There is also big manipulations with pump and dump groups and fake news to hype a coin.
In 2015 and 2016, the cryptocurrency PR campaign was quite strong. They talked about decentralization and the absence of fraud, but today we see a very different picture. Perhaps because of the disappointment of many investors and cryptocurrency users, the market has gone down.
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December 06, 2018, 01:26:21 PM
 #137

Yes, it works but not everytime. And as liquidity is very low, volatility is very high. There is also big manipulations with pump and dump groups and fake news to hype a coin.
Right now, TA is not good because of the market manipulation but I also believe it still works but still depend on your strategy and of course the market situation.

In cryptworld, is seems that news is very much important compare to the chart analysis. Newbies only depend on the hype, and don’t even know how to understand the price movements and the result is very bad for them. IMO, If you are serious in trading learning TA is very important so better not to skip the process.
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December 06, 2018, 01:52:41 PM
 #138

Yes, it works but not everytime. And as liquidity is very low, volatility is very high. There is also big manipulations with pump and dump groups and fake news to hype a coin.
Right now, TA is not good because of the market manipulation but I also believe it still works but still depend on your strategy and of course the market situation.

In cryptworld, is seems that news is very much important compare to the chart analysis. Newbies only depend on the hype, and don’t even know how to understand the price movements and the result is very bad for them. IMO, If you are serious in trading learning TA is very important so better not to skip the process.
In any case, the information space affects the cryptocurrency market, as well as all users of cryptocurrency. If deception only affected newbies, today we would have different results.

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December 06, 2018, 02:06:07 PM
 #139

I think a little bit of Technical concept work on the crypto. One this is that it is somehow follow the forex pattern. If the market is bearish then it is fallen and fallen till some point and again it is move towards bull in a one way for the prolonged period time whether it is for 6 month or one year.
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December 06, 2018, 04:31:01 PM
 #140

the analytical techniques that you do might help you to determine the cryptocurrency price movements and can analyze how movements when there are important events so there is no harm if you do good and correct analysis techniques.

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