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

[harastvo]

Hi, in this topic I would like to discuss the usability of technical indicators in the cryptocurrency market! So, Let's start!
Indicators were developed by financiers for traditional markets. Over time, key indicators spread to most markets, where they also showed their applicability. In this way, thanks to the proven versatility, they were on the crypto currency market. The cryptocurrency market as a whole differs from traditional ones a little. Mainly because its participants are the same or at least the same people as those who trade on the traditional. The thinking of the traders is the same, the methods of responding to the market situation - too, so the assets on both cryptomarket and traditional behave more or less the same. And that's why the technical analysis and its key indicators in particular are successfully applied on cryptomarket.
So, what do u think about the usability of technical indicators in the cryptocurrency market?

[Jhomzky23]

It worked and it will work. One of my colleagues uses the same system both on stock market and crypto trading successfully. Although some tweaking needs to be done, i.e. timeframe settings, etc., But basically when you have a trading system for stock market or forex, trading crypto will be easier.

[dunfida]

It worked and it will work. One of my colleagues uses the same system both on stock market and crypto trading successfully. Although some tweaking needs to be done, i.e. timeframe settings, etc., But basically when you have a trading system for stock market or forex, trading crypto will be easier.

I dont know on where you do get that too much confidence towards technical indicators which you have said it is more easier on crypto trading? I dont think so because based on my experience it wont really be that precise for us to give results on what we do saw into those indicators.Ive been using this since while im engage on crypto trading.It isnt really working anytime but these tools are good to have rather than on doing naked trading or just fully dependent on fundamentals.

[metalglowd]

no matter analysis that we used to trading, fundamental or technical indicators, it all  was only a tool to find specific values ​​and points. so at the time of trading if only depends on the indicator. will be very bad for the future.

but it also not wrong in using such an indicator.

[jmlona]

I see these threads again and again. It's really quite simple, TA is useful but it will not guarantee great results. You need to be able to use a combination of things to make the best decisions, that will be TA as well as just general feel for the market. Sometimes TA will suggest a strong sell when in reality it should be a strong buy based on many other things that TA does not account for.

[xuan87]

It is working, both crypto and trading almost the same the different is the factors that caused the price to moved in stock we got outside factors like politics or other things, but in crypto it's pure supply and demand, in trading technical analysis is very important it's the indicator to see where the price will go

[lushlife]

Yes, been using technical Indicators to assist me in my trades, technical indicators serves as a confirmation how a pattern goes. make sure before you use a certain indicator you know how it is used.

[Tynovten_]

Indicator system is a tool to help understand price fluctuation, I've never traded other than trading in crypto. If it's different then it will not make a very far different. So choose an indicator that suits your character or which easy to make you understand. Option of indicators are so many, i think you will be able to find a match character.

[klasik1980]

Technical analysis works in every market as a way to measure and quantify price movement. By itself it is not predictive. You cannot predict price by using historical price in isolation without other information. If you could do that reliably everyone would be rich. The better way to trade is to use technical analysis as a way to measure/quantify historical price movement and then add order flow info, Smart Money participation, rotational information, etc.

[Awesomus Maximus]

People use them and they can work but very often they won't. If they work 5 times in a row, they may fail to work the sixth time. They may fail miserably and the net result of the six trades may be negative.

[karungbitcoin]

Knowledge about technical analysis is important to know market conditions in bullish or on bearish. Although technical analysis does not work 100% perfect but this is really help to make decision when best times to buy and sell. I can not trading without charting and some indikator, but also important to learn about fundamental analysis when doing long term trading.

[kent47400]

the name is technical, the note is on white paper.
so all can be done when it happens in the field.

we cannot improve the trading of cryptocurrency from technical because the true market cannot be predicted.

[wayaneka]

I bought Ethereum afew days ago at the price $380 because this price become  level support of this coin when i seen in daily timeframe, but the price keep down to $250 so technical analysis is does not work accurate in crypto trading. But although TA not accurate we need to see the chart when decide to buy or sell crypto. Because TA mostly does not accurate so to avoided loss is very important to use stop loss whenever make open potition.

[akihiro101117]

It worked and it will work. One of my colleagues uses the same system both on stock market and crypto trading successfully. Although some tweaking needs to be done, i.e. timeframe settings, etc., But basically when you have a trading system for stock market or forex, trading crypto will be easier.

base on my own experience, indicators are not working in this very volatile market of cryptocurrency. as a guideline in most of the time it is psychological so i just use naked trading and fundamental analysis and let the plan work.

[Ctn]

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.

[Daniel9140]

Trading cryptocurrency without technical indicators can be a very huge risk. It is worth it if you use technical indicators to trade. This would tell you when to buy or when to sell in the market. Its very important we dont trade blindly in this market.

[lavishlife]

Indicators are very useful
In my case, I use indicators as reinforcement for my analysis
or sometimes I rely 100% on some indicators on my trades.

[juragane]

for now it seems the technique for reading the indicators that occur at the exchange place is not too accurate because the cryptocurrency price movements will never be predicted.

[Ruslanabramov748]

my advice is to use technical analysis, i.e. resistance levels, support levels, trend lines

[Magiklair]

I think that it is worth using the technical indicators in the crypto market because this will help to analyze the situation and win in the market. To my mind, it is better to do this now