How important technical indicators are in cryptocurrencies volatile market?

[gaurav@zup]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

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[haroldtee]

Technical indicators help some of the time as they can at least still give you some direction or what to expect, but that does not mean you should rely totally on them, which means you are still left to use your discretion as a trader when things decide to go the other way.

For instance, we have seen bullish divergence on MACD ending bearish and vice versa. Also, if we were to judge based by the books, the recent formation on btc before the triangle breakout should not have turned bullish but it did anyway. That is how it is and we just have to blend with the trend even with the indicators most of the time, if you know what I mean.

[player514]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

I don't at all think technical indicators help in the cryptocurrency markets. The reason you see people saying that they predicted the price at a certain time is because there are thousands, if not millions, of people making their predictions about what the price should be in the future by using charts and graphs. If there's such a high volume of people creating their predictions, there's bound to be some chance that one of the predictions actually lines up with what happens. So, what you end up with is a load of graphs and technical foreshadowing about what the price will be in the future. If you "choose the right one" you might be able to make money, but what are your chances of making money off of one out of a million predictions?

This is just my personal qualm with technical indicators. Maybe it works for others, but it hasn't worked out for me.

[TwSeventh]

i do not see any significant use of those thing so called 'Technical Analysis' when the market goes craze like today.
i made and saw many Technical Analysis from different perspective but none of them could explain the market.
everything is out of control because Bitcoin price get manipulated by people.
that is why we will not see anything on Technical Analysis,logically if everything is well explained on Technical Analysis.
everybody will get profit right ?

[wantjokull]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

I don't at all think technical indicators help in the cryptocurrency markets. The reason you see people saying that they predicted the price at a certain time is because there are thousands, if not millions, of people making their predictions about what the price should be in the future by using charts and graphs. If there's such a high volume of people creating their predictions, there's bound to be some chance that one of the predictions actually lines up with what happens. So, what you end up with is a load of graphs and technical foreshadowing about what the price will be in the future. If you "choose the right one" you might be able to make money, but what are your chances of making money off of one out of a million predictions?

This is just my personal qualm with technical indicators. Maybe it works for others, but it hasn't worked out for me.

Okay you got my eye! This is what I think about the crypto indicators or the technical indicator itself. I mean I never trust these signals because they are just made up one and with every graph the whole future changes a lot. Many people apply different theories in the first place and end up with some random results with heir signal. There is no math embedded in it as such and thus it makes it unrealistic data and can not rely on it completely. Take example of many signals published in those telegram channels, they really suck. If you enrol into two different channel and see the predictions for same coin then they will be different one. So thats what tell us it doesnt really work.

[Mpamaegbu]

Technical indicators are my compass, even as a Forex Trader. Relying solely on them in the crypto market has also been awesome for me. Though I must acknowledge that the crypto market dwells more on fundamentals than TA due to its ever present volatile FOMO and FUD. Any slight news makes a mess of TA in cryptocurrency.

[darkangel11]

The thing with TA is that there are so many indicators that some people are choosing these or that to predict the price and they aren't always consistent with each other.
To give you an example, you can analyse the price by looking for patterns, like the cup and handle, head and shoulders, double top and double bottom, which I personally like, but they don't usually work when the price stabilizes for a while. Then people usually switch to other indicators, like watching the volume and trying to predict movements based on that or MACD, which personally I hate as it's very rarely correct.
There's that "analyst" on coindesk that loves to give his opinions based on daily weekly and monthly MACD and he's usually wrong.

[hundi.online]

Lack of regulations - Despite the fact that governments are doing their best to regulate this space, it's still in its initial days - Limited controls can without much of a stretch permit anybody with a ton of property to control the market.

Lack of institutional capital - Banks and other foundation are available to blockchain technology however haven't contributed, yet, a lot of cash which would mollify the unpredictability.

They have no intrinsic value - Regardless of some other organizations, cryptocurrencies don't make an items, acquire income, utilize a large number of individuals or even return dividents - Because of this is it extremely difficult to esteem them, we frequently depend on advertise assumption which is affected by the media.

[gaurav@zup]

Lack of regulations - Despite the fact that governments are doing their best to regulate this space, it's still in its initial days - Limited controls can without much of a stretch permit anybody with a ton of property to control the market.

Lack of institutional capital - Banks and other foundation are available to blockchain technology however haven't contributed, yet, a lot of cash which would mollify the unpredictability.

They have no intrinsic value - Regardless of some other organizations, cryptocurrencies don't make an items, acquire income, utilize a large number of individuals or even return dividents - Because of this is it extremely difficult to esteem them, we frequently depend on advertise assumption which is affected by the media.

Agreed upon the points of lack of regulations and lack of institutional capital which will happen in due time. BUT i couldn't disagree more on the point of having no intrinsic value, as cryptocurrencies are not suppose to make any item because it is the outcome of the Blockchain which is the item. And as far as dividends are concerned many new ICOs are paying the dividends like Bankera and many more.
And as far as the value is considered i can give you many examples of currently available financial system which itself has no value like GOLD, SILVER or as a matter of fact any currency.
Its all about demand and supply of any currency, commodity, cryptocurrency and people willing to take it as a payment in exchange of goods and services.

[astrong]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

The technical indicator very important for me, because It can help us to controlled our greedy. For an example is RSI, if the indicator showing over buy, we should not to make any buy order at that momen. We can use the other indicator to help decided when we have to make order, one of them is fibo.

[dothebeats]

Bitcoin is currently being populated by traders from Wall Street and other forex markets that uses TA and indicators that are mostly working within these financial realms. Right now, these indicators are somewhat being ignored by bitcoin's movement and oftentimes, when traders 'know' what would be the next price movement due to the indicators giving it away, bitcoin simply doesn't follow it and goes the other way. It might seem that TA and indicators are not important, but it is the lingua franca of traders who came from different realms so as to have a common understanding on the markets and most especially the price movements.

[lordmick]

Of course, technical indicators are very important, but they work best together with technical analysis. It is important to build your trading system based on the signal of 3 or more indicators with confirmed figures of technical analysis.

[aoihs00]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

They can (virtually) predict the next movement of the market. I mean candles are one of the indicators widely used in the market now a days. If its green candle then it means lots of volume is turning into it and it time to get ready for the sell. If it is red then people are going to sell or dump heavily and if you want good opportunity then its time to buy more at that point. People also make it vice versa to earn whatever profits that they have gotten. Apart from this they do not give much information and reference purpose only (thats what I think of them). Its fun watching them as you get filled with adrenaline when green-red candles are moving.

[klasik1980]

Generally used technical indicator events do NOT appear to be good predictors of above average, or negative, returns for cryptocurrencies when utilizing daily prices and when used alone. In addition, in markets that have moved primarily upward, it is probably unwise to put too much faith in indicators that predict upside performance.

[Xardasim]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

I don't think that technical indicators are so important in cryptocurrencies. I mean, if you analyze the news truthly, this is the best for you and this way is better than many people's ineffectual speech. Technical analysis can help in the Forex, but in the crypto world this is a bit difficult, because the whale, who have a lot of money, can change the direction of money as he wants.

[EHT7500]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

Technical indicators do not help in the crypto-currency markets. Classic Technical Analysis, which is used in the stock market in the case of crypto currency is not only useless, but also harmful! It's my opinion. Loss of time for the analysis of indicators, making forecasts. And any news changes your plans in the opposite direction.

[peter0425]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

I don't know how effective TA is really to the crypto market, most of the time its a hit or miss. So I don't take so much weight of those so called technical experts here but it's really fun to see how to put charts around and 'predicts' where the price will move in the future.

A good example that stuck in my mind is the sudden U-turn of China against crypto. Can TA predict be effective in predicting that? I don't think so. Maybe those analyst who have predict it along the way didn't know anything about the PBoC crackdown ahead of time so most probably they got it by pure coincidence, just saying.

[Koadharber]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

When I start to trade Ive got used to make use of those technical indicators and I would say these things do really work or help. Not might be accurate but somehow a good tool which you can really make presumptions that do have basis on making your entry or exits. Might not really precise but it do help me on profits. Crypto market is not basing on technical yet most of the time it do rely on fundamentals and speculations.

[Indrawan77]

I think we can go a lot of informations from the technical indicators, we can see the open price, how big is the demand  and how big is the gap between the buy and the sell, if we dig deeper we can get a lot of information and it could help us to determine whether the price going to fall or going to go up, it maybe won't be accurate 100% but it really help a lot to make a decision

[drachman]

What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )

The utility of those indicators is high but is not everything you need to keep your eyes on the news as well also those indicators are very useful in a coin like bitcoin and other coins like that but if you're expecting that such indicators are going to work in very small coins then your mistaken, in fact that is one of the first things that you learn when you are trading.