Is Technical analysis bullshit?

[adaseb]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

Its not only with Crypto.

TA has the same results in Stocks, Futures, Metal markets, Yields, Bonds, etc.

You won't find a TA that works 100% of the time. Basically at best you can find some indicator that is correct 20-25% of the time, use it and basically use a good risk to reward and get out before it turns again you.

If it was this easy my Grandmother would be trading instead of doing manual labour.

[Genemind]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

TA can be used as a guidance when investing or trading. However, ypu should not base ypur deciaion solely in TA since crypto market demand is affected by many factors.

[longminh123]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

I am a person who never believes in technical analysis through graphs. I think it is a joke. Because the market will never be evaluated on the figure, it will be judged by the actual economic situation and the different levels of inflation.
I will often learn about economic history and read more articles to make my portfolio.

[sotoshihero]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

TA can be used as a guidance when investing or trading. However, ypu should not base ypur deciaion solely in TA since crypto market demand is affected by many factors.

Well TA is fine, but trading with  cryptocurrency is different. Cryptovurrency can be manipulated and your TA becomes useless. Remember that crypto trading is not regulated and whales is free to play around.

[gabbie2010]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

A good trader will not rely only on Technical analysis alone he had to incorporates fundamental analysis to his trading system, fundamentals is the driving force of all markets Cryptos, forex, spot, commodities markets thus TA is just like a guide and in most cases Cryptos markets does defies TA e.g when the whales dumps btc all TA fails.

[breathlessz]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

A good trader will not rely only on Technical analysis alone he had to incorporates fundamental analysis to his trading system, fundamentals is the driving force of all markets Cryptos, forex, spot, commodities markets thus TA is just like a guide and in most cases Cryptos markets does defies TA e.g when the whales dumps btc all TA fails.

besides that we must pay attention to news that happened on the project. indeed we should combine it with technical analysis and that must be understood is no definite analysis, so it must be a lot of strategy

[Dimon8]

The best tool on the market is a sound mind. TA can be used, but fully be confident in future events looking at TA is not literate and unprofitable.

[sergio red]

It's really a bullshit when you compare previous data with the current market because of its always moving. So Technical analysis wouldn't work over the time period. But it's true that it could be a good assistant in order to make any investment in this platform.

[trecore4]

I am not a technical analyst and neither I understand the term at all. However what I do is simple thing, I ignore the TA as it is worthless. I know that I cant read them as I dont understand them properly but I have seen various failed groups here who tried to perform nice TA in the long run and when the time came then results were exactly opposite to it thus making everything look like a joke. Many people use this theory and that theory to prove their stuff but to be honest the market starts to make moves according to its current situation and news around the globe.

[wumBowo]

if you want use TA, i think used conventional/classic TA is better option.
I used to trade with my exprience rather than TA because at first time i just jumped to trading without any knowledge.
After i read some TA patterns, i must say classic TA like head and shoulders, cup and handle, doji, and others it's actually works on cryptocurrency

But don't forget news>all , you need to keep on update with your coins if you don't want to get a huge lose

[taiwww]

Who knows how they predict it with technical analysis. Just some raw data from the past and current graphs and boom there is straight line passing through 10K value and they think bitcoin will rise to the 10K this weekend. Oh come on, who cares, I dont think these technical analysis really come up with good results all the time. They are just hypothetical speculations based on the past data and I dont think it will be the same when there will next week with all the good/bad news happening around us. I think that is way of tricking the traders and forcing them to act in that way so that the results would be similar to those. How can anyone even believe on the hypothetical line drawn on ups and downs of the candlestick.

[bittnick]

I think that technical analysis does not work on the crypto market. The price reacts too much to the news. So you're absolutely right. And then, all these graphics is very boring)

[hulla]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

Technical analysis is not bullshit but I want you to know that change is something that is always constant which is the reason why technical analysis fail to yield the require result sometime and with the current state of cryptocurrency market technical analysis won't produce the right prediction which the the news will produce cause the market is still sort of shaky.

[Swenna]

Technical analysis is helpful in predicting the movement of the market by means of studying the graphs and the charts. Although, it is not accurate all the time due to the fact of the currencies volatility and other factors affecting the market. Although, one of the most common reason why technical analysis fails is because of the patterns and trends we see. Yes, there are patterns and trends when reading graphs and charts but sometimes, we often think that there is a pattern although there really isn't. Technical analysis requires skills and not at all is it applicable to everyone. Try fundamental analysis, that one works, too; all you have to do is analyse the fundamental indicators.

[TheDarkRide]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

If fundamentals and news work best for you, it is better to use it as your guideline instead of other type of methods. Indeed, news for me work best since the market will react to it as I can understand.

[stomachgrowls]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

Technical analysis doesnt work anytime with crypto trading which we do all know that this is very an unpreditable market prices can change from time to time at least we expected but i do still see lots of people do make rely on their technical analysis but together with fundamentals. You are not being forced to believe that its working but just stick on the things where you are profitable.If you found out that fundamentals is better then better just rely on it.

[hitrawal91]

I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.

Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.

Should I even bother with technical analysis when it comes to cryptos?

TECHNICAL ANALYSIS IS A VAST SUBJECT and I don't think you have sound knowledge about Technical Analysis to comment on it. There is much more than RSI strategy and I think you need to learn and practice more in order to master the Technical analysis. Every trader needs to bother about technical analysis because its one of the major ways by which you can mint some big money in this market. I am TA expert trading stocks, forex, and cryptos from past 8 years successfully and I am here to help you at anytime you want, just pm me if you need to know something regarding TA.

[BitHodler]

Indeed, news for me work best since the market will react to it as I can understand.

There has never been much proof of news being a price driver in the more recent years. The only thing we see happen is that coincidentally certain announcements were made during or just before a certain price movement.

In most cases news sites know when to publish certain articles, which might even be with a paid incentive in the background. In this market manipulation is key to make millions in profits, and news sites abuse their position.

Look at how many good developments in the last months haven't translated into one single mini pump. It's clear that large parties are utilizing current market to accumulate as many coins as possible, and they take their time for it.

[cryptosluck]

Technical analysis is real but technical analysis wont work in crypto market in all cases this market will turn one-sided so we should follow holding strategy

[Aion2n]

Technical analysis is very useful. Yes, the crypto currency market depends very much on news. You always need to keep abreast of all the news that occurs in the crypto world. But this can not be the main strategy. If you trade every day, you must also be able to read graphics. This will help to find good entry and exit points. The market is a crowd of people, their psychology is the same. Everyone experiences the same feelings (fear, greed, uncertainty, regret, etc.) Here technical analysis helps to understand what moods prevail in the market.
You need to use different indicators. One indicator can not pinpoint. You should always check on several indicators.
If you spend your time and energy studying the basics of technical analysis, you will understand everything I wrote about here. Good luck!