Is it worth using the technical indicators in the cryptocurrency market?

[milewilda]

None of those really help, or at least they did not help me with my trade. I have seen the crypto currencies going in the up and down direction based on the fundamentals surrounding to them. So basically it would be unreal to watch out the indicators and predict anything based on them. I mean sometime indicators (in traditional market) tells us that market will be up or down but in here, its all about people and news that affects them. If there is good environment all over then people are happy to invest huge and due to decentralised nature crypto freely move upwards and thus creates positive hype and indicators themselves moves in +ve direction.  So no indicators, its people, news, miscellaneous stuff.

In your own experience it didnt help out but for some or most traders they do make use of these indicators even it doesnt give accurate readings but having these analysis or tools will give you or picture out some idea on your trading rather than not using any tools at all.This would only depend on how you do make use of it and its true that it might work or not but its just normal because we do know on how this market behaves when it comes to its price.

[bitbunnny]

I say that techical analisys can't make you harm but isn't of a big help either. Use it more like the guideliness and information that help you to be aware of current trends but don't rely on it fully and technical indicators will not make a better trader out of you. Also it's important the source you are using so the data you get might vary.

[pant-79]

I fully agree with what you wrote above. Everything is just like that. The only thing I would like to add is the news factor. The crypto market is very influenced by news (both real and fake), so when working on a crypto market, you need to consider this factor. Technical analysis works well only if the situation is stable. If there are any influential news, then technical analysis is powerless.

[josephdd1]

Of course, it is. But it shouldn't be the only factor taken into account because other external sources not considered in technical indicators can greatly influence the market simply because the're new variables.

[Xardasim]

Technical analysis can be helpful sometimes. But I think, fundamental analysis is much better in the crypto. It is easy to move the price of the digital money which value of market is so cheap, and with TA you can't reach a conclusion in this situation.

[big_bankir]

I take all my investment decisions based only on technical analysis, so I think that every crypto investor should use the technical analysis, since without it it is not possible to assess the current market situation.

[sumanto]

yes of course it is still very valuable because with this technique you can find out the right time conditions to buy and sell coins so that you will be easy to get profit when trading.

[Indrawan77]

Its worthed and it is a must to learn technical indicator to be able to make profit, people created more and more advance indicators to be easier to predict the market movement, indicators cant be 100% correct but it can give a good review about the market, and from that point you can speculate about the price, so it's an important element in trading

[yla1974]

In the market, crypto-currency, like any other, there is a crowd of buyers and sellers. according to this they behave according to a certain algorithm, as in any market. Indicators and other tools work, but we must not forget that the market is illiquid and manipulative.

[millensharon8]

Its worthed and it is a must to learn technical indicator to be able to make profit, people created more and more advance indicators to be easier to predict the market movement, indicators cant be 100% correct but it can give a good review about the market, and from that point you can speculate about the price, so it's an important element in trading

Well, not using a technical indicator does not mean you cannot trade the market at all. Some investors or traders simply like going indicator-less than using one. You can decide to stick with just price actions or candle reading on the chart. With that said, indicators are still a very good way to detect possible market movement, either with momentum indicator or trend indicator, but they can really be an added advantage if known.

[Tamilson]

Its worthed and it is a must to learn technical indicator to be able to make profit, people created more and more advance indicators to be easier to predict the market movement, indicators cant be 100% correct but it can give a good review about the market, and from that point you can speculate about the price, so it's an important element in trading

Well, not using a technical indicator does not mean you cannot trade the market at all. Some investors or traders simply like going indicator-less than using one. You can decide to stick with just price actions or candle reading on the chart. With that said, indicators are still a very good way to detect possible market movement, either with momentum indicator or trend indicator, but they can really be an added advantage if known.

We all have different ways to read and do trading and doesn't matter what it is, nonetheless what matter is if we earn a profit by doing it and I think that is trading all about. Yes this TA may help us throughout our trading life here but don't put all your trust here as sometimes it may go on the wrong way. Thus, our experiences will make us to breath continously.

[tnabielec]

Yes and no, and what i mean by this is the following:

You can trade profitable only by using price range + patterns + reading candles, that is proven. Indicators on top of all of these i just a nice extra validation to your analysis.

Personally i do use indicators for this exact reason, extra validation. There's never too much validation

[fullhdpixel]

Its worthed and it is a must to learn technical indicator to be able to make profit, people created more and more advance indicators to be easier to predict the market movement, indicators cant be 100% correct but it can give a good review about the market, and from that point you can speculate about the price, so it's an important element in trading

Well, not using a technical indicator does not mean you cannot trade the market at all. Some investors or traders simply like going indicator-less than using one. You can decide to stick with just price actions or candle reading on the chart. With that said, indicators are still a very good way to detect possible market movement, either with momentum indicator or trend indicator, but they can really be an added advantage if known.

Right! For instance, before I even started using the Stoch RSI indicator, I have always stuck with the D1 - weekly chart and then trading the candles only and that has been very effective for me.

However, with momentum indicator, it made it a bit easy for me to understand the market sentiment, either oversold or overbought, how the market his acting based on its price at this point and what decision I should be making. So I agree with the fact that it is not a necessity but it can be an added advantage.

[justspare]

yes of course it is still very valuable because with this technique you can find out the right time conditions to buy and sell coins so that you will be easy to get profit when trading.

The idea of using a technical indicator in the market normally is to understand the sentiments on the chart, and can help serve as a good signal to know if the market is ready to move up or have the slight chance of doing so. Technical indicators are good for making decisions but to rely on them, you will need to be mixing quite a number of them and also judging based on other technical analysis on the chart itself.

with momentum indicator, it made it a bit easy for me to understand the market sentiment, either oversold or overbought, how the market his acting based on its price at this point and what decision I should be making. So I agree with the fact that it is not a necessity but it can be an added advantage.

Momentum indicator is very much useful one. Combining it with zig-zag indicator gets me more than 80% accurate over bought or over-sold regions which is the easy identifier to get market reversal information. Without most of here discussed indicators, I could not imagine my trading.

[doanlang]

The useful indicators of technical analysis are important to know the market conditions in rising or falling. Although technical analysis is not entirely correct, it also helps to decide when it is best to buy and sell.

[kominfo.id]

yes of course it is very profitable for new traders because with these indicators the new players can determine the right time to buy and sell coins.

[aoihs00]

Technical indicators are great help at some point but in the crypto currencies these instances are pretty low. I mean there is valid reason for this and it starts from dependency of the crypto currencies over the fundamental aspects of market. This market is very volatile and alway leads to fluctuation based on the news around the globe, what are the happening of political pressures and much more you name it. Indicators move according to it and not because they are moving and depending upon which we should be making decisions. Thats what I think

[geopolisch]

Yeah but don't depend on them too much. It isn't like they will do the trade anyway. I look into it for patterns and pretty much that is pretty much about it especially in how I look in TA in Binance. I don't use it to predict what's next but rather prepare primarily on what could probably happen. It is an unstable market anyway and probability is randomized with just a bit of a driving factor from the whales.

It would really take an unserious person to think that their plans and strategies cannot fail even with any form of analysis. It is the market, and the essence of using some of these indicators is to help inform our decisions rather than just entering a market position blindly which is what a lot of people do.

It is an added advantage to know how to use some certain indicators, but better to stick with just few, use them to form a strategy and build on it, to be better.

[Airbuxf]

I never used technical indicators for trading. Maybe because I'm more concentrated on long term investment than day to day trading.  Research and strategy are my ways to go.

[farosa]

In the past, technical analysis was not good enough, perhaps in relation to market value. But, I can say that it's been working lately, so I can predict the price with technical analysis. I can not say it works exactly without being wrong. Anyway, that is just guess, there is nothing definite.