Techincal analysis on crypto market

[ManujMadan]

Do technical analysis work with crypto? Are they really helpful? What combination of techincal analysis do you really use? Also what are their settings?
Thanks!

[mk4]

Ah. Technical analysis. One of the most controversial topics when it comes to trading.

There are people who says that TA works, then there are people who say that its pure BS. Personally? I don't think so. I think that the cryptocurrency markets are very easily manipulated by whales and news alone, and I'm pretty sure TA can't predict those manipulations, but I also think that TA helps to only a certain extent.

What combination of techincal analysis do you really use?: I'm not exactly sure, but what I know is that people has their own ways of doing TA; that's what I think due to me watching a good number of videos on youtube of people demonstrating TA.

[Itsmylife]

I think technical analysis only can be used for all cryptocurrencies have large market capitalization and strong community (as bitcoin, litecoin, eth...). With new coins, technical analysis may be work incorrect.

[godzillarekt007]

While it can work I think the impact of TA in crypto is limited. I use a couple of things but really though I think they mess me up more than they have helped me long term and I won't disclose because of this. Personally I think viewing the price action of a chart is more important and more telling. Generally you will get better indication of what is happening with the waves theory and volume, the indicators are generally more noise than I care to decipher. Also indicators are generally conflicting which means if you use one set you will get one result and vice-versa. Doesn't really inspire confidence if you ask me..

[DaMut]

Technical analysis created to help people to make a decision based on the data.
so if we are talking about 'will it work' or 'no',
nobody will know about it because it's all about the person who is doing the analysis.
for example me,
just look at our current movement,it went down to below $10.000 a few days ago and it went up to $10.000 a few days ago.
no matter what is going on with it,based on my analysis it will keep moving upward because it's our future.
people will discover its usability in the future and the demand will keep increasing,
with that we can see the price should be hit another peak after this down.


i am using MACD and RSI

[jmlona]

TA can be useful as an indicator but anyone who thinks that it will be a 100% success is mistaken. There's nothing that ensures things will follow previous trends and often TA can be incorrect. I do feel that someone who uses TA in conjuction with other indicators and their skills will outperform someone who doesn't use TA.

[Julunguul]

Do technical analysis work with crypto? Are they really helpful? What combination of techincal analysis do you really use? Also what are their settings?
Thanks!

Actually, technical analysis will be helpful if we know how to used it.
Some technical analysis have different settings, it depends on what are you trying to search, supports point, buy point, or maybe sell point.

I often to use it, for me i prefer on use fundamental analysis

[creeps]

Yes, technical analysis works here in cryptomarket and I think knowing how to do it properly can help you decide when to enter the market. I personally do this and some of indicators that I use are MA, MACD and FIB well it will depend on your trading skills on how you do it but I can say is it really works sometime.

[Opekin]

Do technical analysis work with crypto? Are they really helpful? What combination of techincal analysis do you really use? Also what are their settings?
Thanks!

Yes it works and it help is on what you forcasted or see in the analysis where in this techincal analysis your mind or own skills how to do it is the possible result of analysis it might be helpful or not you are the one who knows your work, it is like a research paper the combination will be coming from what indicators you are going to use that you can predict accurately what is the possible next position in the price or chart. Its already the settings which you are the only in charged to it.

[Bolt Brownie]

Do technical analysis work with crypto? Are they really helpful? What combination of techincal analysis do you really use? Also what are their settings?
Thanks!

I must say that news will always beat technical analysis, but when we are in periods where nothing big is happening (from a fundamental perspective, or even from a "fake news" perspective), then I would say that technical analysis is incredibly useful. I use the basics right now, and I focus on price analysis. Are inside bars forming? Are they forming out of a descending pattern or an up trend? Is there volume spikes associated when those inside bars are breaking bullish or bearish? What do the rsi levels tell us? Are we oversold, or overbought? Do we have a macd cross confirming our bullish or bearish entry?

I try to combine a lot of these indicators, since you can't get reliable information from just a single indicator. And all of them have different meanings or importance on different times frames.

[alyssa85]

TA works on bitcoin, not so much on alts (because they are subject to pumps at low volume).

If you want to follow traders, the best place is the Daily Thread on https://www.reddit.com/r/BitcoinMarkets/

Plenty of people on there will post their trading strategies, often TA based, and will share charts with you.

[manggis97]

For me technical analysis is very usefull because by understand it we will know the market on uptrend, downtrend, overbought and oversold . Is very important to learn and understand about technical analysis when doing day trading and longterm trading. With understand it we get better price when buy and sell.

[apityeh71]

Iam doing long term trading so i also used technical analysis to get better price, I used daily chart and some indikator like Moving average periode 50 & 100 and also MACD. These 2 indikator is enough for me to decide when best time for buying and selling.

[Tactical Genius]

Oh yes technical analysis do work sometimes but not always,there are times the so called  pundits have made wrong predictions and times they hit the nail on the head.So yes it does work but not always

[Raindez316]

Ah. Technical analysis. One of the most controversial topics when it comes to trading.

There are people who says that TA works, then there are people who say that its pure BS. Personally? I don't think so. I think that the cryptocurrency markets are very easily manipulated by whales and news alone, and I'm pretty sure TA can't predict those manipulations, but I also think that TA helps to only a certain extent.

What combination of techincal analysis do you really use?: I'm not exactly sure, but what I know is that people has their own ways of doing TA; that's what I think due to me watching a good number of videos on youtube of people demonstrating TA.

So what do you think is the most useful analysis in crypto? The crystal ball I suppose. Dude even in stock market whales exist, don't  demonize the cryptocurrency, saying that easily manipulated, technical analysis is useless etc is baseless. TA is only a guide it will help you give a clear option if you want to take the risk or not and even you have given a good advise it will not guarantee you success. You still need supplementary analysis for your TA.

[hdclover]

Do technical analysis work with crypto? Are they really helpful? What combination of techincal analysis do you really use? Also what are their settings?
Thanks!

Technical analysis is an educated guess. Works or not works depend on traders who are using them. As a beginner don't get into the complecated technical analysis patterns. Start easily by recognising the support and resistant levels with some indicators like RSI and MACD. Buy at support and sell at resistance most simple way.

[kasansa]

Any one can't do technical analysis on crypto market because one should have full knowledge about the ups and downs of market to get correct and current position to get the data but fundamental  way is best to buy and to sell.

[Reid]

Ah. Technical analysis. One of the most controversial topics when it comes to trading.

There are people who says that TA works, then there are people who say that its pure BS. Personally? I don't think so. I think that the cryptocurrency markets are very easily manipulated by whales and news alone, and I'm pretty sure TA can't predict those manipulations, but I also think that TA helps to only a certain extent.

What combination of techincal analysis do you really use?: I'm not exactly sure, but what I know is that people has their own ways of doing TA; that's what I think due to me watching a good number of videos on youtube of people demonstrating TA.

So what do you think is the most useful analysis in crypto? The crystal ball I suppose. Dude even in stock market whales exist, don't  demonize the cryptocurrency, saying that easily manipulated, technical analysis is useless etc is baseless. TA is only a guide it will help you give a clear option if you want to take the risk or not and even you have given a good advise it will not guarantee you success. You still need supplementary analysis for your TA.

I have read both and I agree with Raindez.
It looks like a guide to me too. You cannot really rely to something that was taken from the history of it.
If it really works then maybe we have a lot of rich people by now.
The market of all the crypto and also the commodities is not that easy to predict.

Proven by all creation of something like Sparkprofit which you could just guess where the flow will be.
It had always been a guess for us and just predictions.

[Fatunad]

Do technical analysis work with crypto? Are they really helpful? What combination of techincal analysis do you really use? Also what are their settings?
Thanks!

Technical analysis is an educated guess. Works or not works depend on traders who are using them. As a beginner don't get into the complecated technical analysis patterns. Start easily by recognising the support and resistant levels with some indicators like RSI and MACD. Buy at support and sell at resistance most simple way.

This is the most simple technical tools to be considered or being used in trading while we are just starting up or completely newbie. Knowing the basics is the most important support and resistances level identification drawing up trend lines and using RSI,MACD,BB,EMA would really be a good tools but not a guaranteed thing that you can able to make precise price movement assumptions.

[wayaneka]

Yes its work for me, but offcource not 100% because no one analysis will be work by 100% accurate. But technical analysis is basic of trading and every trader should be understand how does it work, especailly for day trading. Usually for technical analysis i use daily chart because iam doing long term trading, and by add some indikator like MA 100 & 250, MACD, and just look in to price action and candlestick pattern.