Is technical analysis vital?

[pundit]

Technical analysis is always based on the data which has passed it reflects where buyers are keen to enter and where sellers are keen to sell, most difficult thing in any analysis to know the take profit point and SL point, tech analysis can help you to get into good trade at a good time but its always not successful, keeping SL will protect you equity in that case, if you are considering to invest in any coin for a long term then fundamentals are quite important to read, the whole project, the background, acceptance of project in the market etc, as mentioned by someone in previous post, in your long term investment tech analysis can help you find a good entry and exit point, for long term analysis, higher TF should be considered like weekly or monthly TF.

[skish85]

Identifying trends or the general direction of the price movement of an asset can be very useful for bitkoyn-traders. But the definition of these trends is often a difficult task. Digital currencies can demonstrate high volatility, so the price schedule of bitcoins can look like a series of peaks and dips.

[msk19]

One of the important tools is the analysis of support and resistance levels. Having determined these levels, the trader can better understand the state of supply and demand in the bitcoin market

[prihojantsev]

I have a friend of mine who uses only technical analysis for trading. Also, he uses a stop limit orders during a trading on exchanges. He often brings up his approach regarding long and short positions during discussions and considers the approach as successful.

[JC btc]

I have a friend of mine who uses only technical analysis for trading. Also, he uses a stop limit orders during a trading on exchanges. He often brings up his approach regarding long and short positions during discussions and considers the approach as successful.

Technical analysis is vital in the world of trading as we all know that in trading there is no perfect way to find our the real value for the market so we need guidelines and tools that we will help us to have a decision.

[pant-79]

If you invest in a project for a long time on the basis of fundamental analysis, you will need technical analysis periodically. I mean, sometimes you will need to conduct technical analysis to monitor the overall state of your finances. Personally, I do this and I recommend doing it to you. This can help you at some good time to sell your coins at a very favorable price and buy from scratch at a low.
As an example, we can consider December 2017. Those who had coins in long term storage had a stunning opportunity to earn a lot of money. As we see now all these people could buy the sold coins later at very low prices.
Of course, none of the analyzes could calculate the likelihood that there are such prices now, but the fact remains, in December 2017, all holders of coins could make excellent money. And I think that this is the meaning of long term trade.
Also, technical analysis will help you calculate the point of purchase correctly. Because at the moment when you want to buy a coin, there may not be a very favorable situation for its purchase, the price can be greatly overstated. And technical analysis will tell you this and you will be able to calculate a successful point of purchase for you.

[Ucy]

I traded with alot of charts in my early days of Crypto Trading which I learned as a Forex trader. It didn't really work very well for me unless i make the chat very simple or I use the basic ones.

The simple ones work great. The  complex ones just complicate things and don't usually work.

[hometester]

cryptocurrency is good because it is in its infancy, when technical analysis works

[PingGermoco]

Its crucial because most of the successful traders are doing technical analysis perfectly,and most of the big losers arent using analysis neither both technical and fundamental analysis which is why these stubborn people wont have any improvements with their cryptocurrency career.I myself has learned a lot from the past few months here in bitcointalk,and i can win trades with just looking at the charts.

[daviidalpert]

I think technical analysis and fundamental analysis are very important.Both are indispensable.Only in this way can you make a profit.

[reactorjuno]

Vital isn't the right word. The right expression should be "very vital". For me, technical analysis is the periscope I use in gauging the movement and direction of any trading pair and I think every trader should use it before entering the market. I value it over Fundamentals.

Actually when people tend to say Technical Analysis is bullshit and does not work, then I tend to ask myself, how they tend to trade the market without it at the end of the day.

They probably don't even trade, those who say that are usually long time holders who never placed daily trades. For me it's quite obvious the price has been influenced massively by Technical Analysis since at least April this year.

I agree that fundamentals are crucial too, for instance the ETF decision is one big fundamental to monitor, but until the end of the year I cannot any other fundamental, apart from some major decisions from influent governments.

As for Technical Analysis, I found it even easier to use for Bitcoin than for the stock market, potential of winnings much bigger even if I am aware it won't last forever.

[Evetemot]

I think so. Traders or Investors would not post a lot about it if it does not contribute any factor on the market. But I'm not into that because there's a great manipulation involved in here and the first we need to consider TA is to check first if there are more investors coming in or out.

Yeah technical analysis is very important if you can do to know the upcoming situation of the market. You can take right decisions on the right time if you are capable to analyze the market on technical basis. Technical analyst can predict the nearly price of bitcoin or Altcoin. Without technical analysis you cannot predict the right future situation of the market.

[mornabo]

Vital isn't the right word. The right expression should be "very vital". For me, technical analysis is the periscope I use in gauging the movement and direction of any trading pair and I think every trader should use it before entering the market. I value it over Fundamentals.

Actually when people tend to say Technical Analysis is bullshit and does not work, then I tend to ask myself, how they tend to trade the market without it at the end of the day.

I believe the problem right from the onset is that a lot of people have this idea that technical analysis should always give perfect direction to a market without any hiccups at all, but for heaven sake, it is a market and we are only meant to be guided with technical analysis, so I certainly agree with you saying it is very vital.

Technical analysis is not a perfect direction dude, it is only a prediction of your calculations, at least the technical analysis that you
do can minimize the risk you will get! rather than just trading without any strategies and calculations

[galambo]

Hi I was wondering what the general consensus was on the use of technical analysis in making long term investments. I know short term day traders get allot of use out of it but if I'm investing in a project based on fundamentals does the technical analysis matter?

Even if you are going for a project with fundamental analysis, the technical analysis matters the same there too.
Each project is been judged on various phenomenons includig fundamental and technical analysis.
If you want a really profitable project to invest into than always go for deep research and always tend to learn each major update from them.
It really helps a differentiate scam projects from real projects.

[conected]

Vital isn't the right word. The right expression should be "very vital". For me, technical analysis is the periscope I use in gauging the movement and direction of any trading pair and I think every trader should use it before entering the market. I value it over Fundamentals.

Actually when people tend to say Technical Analysis is bullshit and does not work, then I tend to ask myself, how they tend to trade the market without it at the end of the day.

I believe the problem right from the onset is that a lot of people have this idea that technical analysis should always give perfect direction to a market without any hiccups at all, but for heaven sake, it is a market and we are only meant to be guided with technical analysis, so I certainly agree with you saying it is very vital.

Technical analysis is not a perfect direction dude, it is only a prediction of your calculations, at least the technical analysis that you
do can minimize the risk you will get! rather than just trading without any strategies and calculations

- Precisely, technical analysis is just as we sum up all the possible situations, looking for the data we feel is appropriate and can bring us profits, and this is probably just predictions and calculations based on the past and the numbers, it does not fully guarantee the future when the future can always be affected by different factors. But at least, we still have a path with a little light, instead of going into a path that is covered with darkness, technical analysis is a light illuminating our path, if we do not have it, our danger will be very high

[reactorjuno]

I include myself in the lot, but those who share Technical Analysis on this forum, or some on Youtube, are usually not really experts. The real experts with valuable experience have patterns that work almost all the time, and they have no reason to share their skills publicly.

[NorihiroName]

I don't think that this thing has a lot to do with crypto, many try to rely on it but I don't think that it can compensate experience or a good portion of luck

[shulio]

Technical analysis is vital for me. With TA I can easily discover the entry and exit points for a coin movement.

[Robertqueen2]

Technical is essential most of the time because it helps make the right decision, and this, in turn, will reduce the possibility of having loses as  volatility is unpredictable sometimes in this space.

[Jahmal32]

Hi I was wondering what the general consensus was on the use of technical analysis in making long term investments. I know short term day traders get allot of use out of it but if I'm investing in a project based on fundamentals does the technical analysis matter?

I think technical analysis will be needed only in case of purchase, if you take the average or long term, based on the fundamental. And so, you're not going to sit for days at the monitor and follow the quote to sell at a good time.