Does technical analysis work with crypto?

[ay.postnov]

This market depends from mood of usual people and I don't think that some algorithms could predict how many people will sell their coins or buy

[WalkerIVIV]

This market depends from mood of usual people and I don't think that some algorithms could predict how many people will sell their coins or buy

It could not. But the algorithm can monitor the balance on their wallet and give us more information regarding how much will have sold by them all through use their transaction as the main thing.
As far as i know that can be it doesn't have high accuracy.

[Abu Shadow]

What are your thoughts? Worthwhile?

The market will depends on the actual situation and this will include on the mood of every investors. I don't think that a technical analysis will help in predicting the price movement. People are too emotional and hard to predict.
Maybe TA will just serve as history.

[Puyol]

I think Technical analysis affect to about %30 cryptocurrency. Rest of Affect sides are speculations, good and bad news, big companys' and governments' explanation and subjects. We should follow more speculations than technical analysis.

[Taner]

In 2017, the technical analysis worked, this year it is not so. At least in my experience I felt that it became much more difficult to determine the market movements. Perhaps this is due to the fact that crypto market is very specific and general rules that work in traditional markets, do not work on it.

[tradjecide]

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.

Any time in the crypto trading the technical analysis worked better but sometimes it go wrong because of some unwanted event or some better event. As in the present year many bad news came which dropped the price a lot and the predictors were unable to analyse.

[enhu]

Not really helpful but technical analysis can be a good guide when you want to see where it might break and when it will bounce back a bit especially if you use the fibonacci and RSI but it can't stand a chance when manipulated. The media news are just stronger indicator of where the price might go including the fudsters.

[life time trader]

technicals will not help in crypto because volumes are less so going with fundamentals will be a good option

[Caladonian]

In 2017, the technical analysis worked, this year it is not so. At least in my experience I felt that it became much more difficult to determine the market movements. Perhaps this is due to the fact that crypto market is very specific and general rules that work in traditional markets, do not work on it.

If we includes whales movement then technical analysis won't work easily at all, the bagholders can design the way where the market will be heading, even you workout harder with your analysis they can change the directions anytime they wanted, the market is still young and if the more and more
people will start playing and invest bagholders will be overtaken it needs more time but hopefully it will happen.

[South Park]

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.

Correct, and that is what confuses people, they think that technical analysis should work 100% of the time and that is simply impossible, technical analysis is a way to improve your predictions about what the market is going to do and a way to try to profit from those movements, that is all, even if you can only predict how the market is going to move 60% of the time that is good enough to get profits.

[bootlace]

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.

Correct, and that is what confuses people, they think that technical analysis should work 100% of the time and that is simply impossible, technical analysis is a way to improve your predictions about what the market is going to do and a way to try to profit from those movements, that is all, even if you can only predict how the market is going to move 60% of the time that is good enough to get profits.

TA is not last true. it work definitely, I agree. But we should understand that it work not in the extreme conditions. For example panic sell or close to this state can't be predicted by TA. But if we add cluster analyse or some mass psychology it can be more exact

[tersotr]

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.

Correct, and that is what confuses people, they think that technical analysis should work 100% of the time and that is simply impossible, technical analysis is a way to improve your predictions about what the market is going to do and a way to try to profit from those movements, that is all, even if you can only predict how the market is going to move 60% of the time that is good enough to get profits.

TA is not last true. it work definitely, I agree. But we should understand that it work not in the extreme conditions. For example panic sell or close to this state can't be predicted by TA. But if we add cluster analyse or some mass psychology it can be more exact

In the cryptocurrency market, the factor of human psychology and not TA plays much more. And actually because of him, we now see the picture of the collapse of all cryptocurrencies.

[SlimShadyMmp]

Its very important in every market as you can possibly have a good trade without analysis but i think just simple analysis is ok to determine the market if you are just beginning thats why some are saying is not necessary. You just dont need to go that deep

[Sephire]

Technical analysis does work but it is only as good as the person doing it so takes years of practice and learning to get better at it. Very few good analysts like Tone Vays saw  this huge correction coming in the beginning of the year and nobody believed them.

[r95222]

Technical analysis does work but it is only as good as the person doing it so takes years of practice and learning to get better at it. Very few good analysts like Tone Vays saw  this huge correction coming in the beginning of the year and nobody believed them.

Many years of practice gives experience not deeper TA learning. And I agreed, TA works good but with some limitations. On the panic sell it don't work. And we should to distinguish such movements. A year ago it was enough simply to hold. But today market need smarter ways to get profit

[robaya]

Many years of practice gives experience not deeper TA learning. And I agreed, TA works good but with some limitations. On the panic sell it don't work. And we should to distinguish such movements. A year ago it was enough simply to hold. But today market need smarter ways to get profit

what can be done with the market now? if I trade, I think the market is not good enough to trade because it moves slowly. I myself only chose to hold back the assets that I had instead of having to trade with a bad market like now.

[Muhtaixa]

No. I think technical analysis is not working in this market. Because this market is not an appropriate market analysis.

The way the whales work is not in line with the technical analysis. The technical analysis of the whales will not work. The whales are not going to act in accordance with technical analysis

[TheReverend]

sometime yes sometime no, depend on market situation, technical analysis will not always accurate specially at this time.
no body can know what happen next, but if not with technical you same like gambler, buying without calculation.

[Dobolen]

Doing analysis can really help you make a decision. But in the crypto world, it will be very difficult to predict changes in crypto coin prices. But with you study the seller's chart because you want to determine when the crypto market price will recover. Although this sometimes does not meet our expectations, it adds to our knowledge.

[Hc01]

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 definitely works at this market, dont listen who says analysis dont work in this market. Especially I can suggest to you for learning moving averages, ma50 and Rsi are very useful for me.