Does technical analysis work with crypto?

[DenysM]

I've been thinking about starting to learn how to read charts and do some technical analysis for myself. The problem is I see it ridiculed on pretty much every forum and people saying it's useless for crypto.

What are your thoughts? Worthwhile?

Technical analysis definitely works at this market, dont listen who says analysis dont work in this market. Especially I can suggest to you for learning moving averages, ma50 and Rsi are very useful for me.

I think that technical analysis does not work well in crypto due to small capitalization. The capitalization of the entire market is only 100 billion dollars and this is very small; large speculators can move the market in any direction. XRP a month ago doubled in just a few days. In which markets have you seen this? And this coin is the second in terms of capitalization.

[doycku]

Doing analysis can really help you make a decision. But in the crypto world, it will be very difficult to predict changes in crypto coin prices. But with you study the seller's chart because you want to determine when the crypto market price will recover. Although this sometimes does not meet our expectations, it adds to our knowledge.

today, all the usual actions and strategies do not work, so we must be prepared for the negative consequences of what is happening in the cryptocurrency market.

[South Park]

Yes, it works but not everytime. And as liquidity is very low, volatility is very high. There is also big manipulations with pump and dump groups and fake news to hype a coin.

Correct, and that is what confuses people, they think that technical analysis should work 100% of the time and that is simply impossible, technical analysis is a way to improve your predictions about what the market is going to do and a way to try to profit from those movements, that is all, even if you can only predict how the market is going to move 60% of the time that is good enough to get profits.

TA is not last true. it work definitely, I agree. But we should understand that it work not in the extreme conditions. For example panic sell or close to this state can't be predicted by TA. But if we add cluster analyse or some mass psychology it can be more exact

Technical analysis has its limitations, anyone that has took the time to actually perform technical analysis knows that, that is why becoming a successful trader is so hard, if making money in the markets was as easy as just following a few indicators then everyone will be making money in the market but since that is not the case then we can safely conclude that technical analysis is harder than it seems.

[chairmanMao]

Technical analysis is only an aid. This is not a stock market. The new capital market usually takes many years to grow in order to have technical analysis. Therefore, I think that cryptocurrency market transactions are related to luck.

[johanesrobin]

The first time I saw various analyzes and I began to be interested in learning them, but after understanding that the process was very complicated. I began to think graph analysis didn't work well. bitcoin only requires a few negative and positive issues so the price will change, I see that is a fact.

[hubballi]

It is like 50 50 chances because some time technical analysis report goes well but suddenly when any big whales sells or buys then their will be change in market valuation apart from that most of the time technical analysis also work on it. But you cannot totally depend on it and trade, also analyse daily chart and see what pattern it is moving and trade according to it.