Does technical analysis have any value for Bitcoin?

[franky1]

I used TAs a lot back when I was day trading. In short-term trading, it could really be helpful but you shouldn't depend on them too much. I learned that when I was watching a Youtube video on how to day trade in Binance.
In long-term trading, sometimes it can help. The patterns of the chart could mean a prediction to another week/month/year that it might happen once again.

TREND analysis does not help short term day trading. a 6month previous trend does not help predict the waves of trading at a daily level. it basically just says when you see a spike expect a fall

Technical analysis that studies things like mining costs and UTXO hoards(how much exchange coldstore (richlist 100+ addresses)) are hoarding are better indicators of how many people want to buy and how many want to sell.

nothing is a perfect science but pretending trend analysis of just historic prices is 'technical' is foolish. pretending TREND analysis is good for day trading is even more foolish.

if your going to use TECHNICAL analysis, actually find some measures that are actually technically based. and not just drawing lines based on some random number in the past.

[1714912050]

1714912050

[1714912050]

1714912050

[samuraijin]

Every day experts share BTC technical analysis and charts.
They look good but actual results are often total opposite.

Are they helpful in you Bitcoin decisions?

if for TA on the Bitcoin market, I think all traders use it, because so far the price of bitcoin can always be analyzed using TA, except Altcoins sometimes there are many pump groups and dumps in it, so I rarely use TA when I trade Altcoin because it will be beyond our expectations analyzing using TA, so in my opinion it's important to use TA to analyze bitcoin prices, one more thing to remember if you were a FOREX trader who used to use TA, please don't you equate trading on bitcoin using TA, because that would be very different

[franky1]

the stupid thing about trend analysis is that if everyone follows a prompt such as 'sell because there will be a drop' guess what.. a drop wiil occur because of the sell.

its not predicting, its causing.

so when a mass of people program their bots to just follow the lead. its not based on predicting. its based on causing the result of a prompt
basically its a form of pump and dump where one prompter makes people react to cause thee action the prompter wants.

the bad thing about it is by the time people react the prompter has already reacted way way before thus he makes the maximum gains and the reactors and causers are left at the loss as they are the last to the pump and dump game

trend analysis predicts nothing.
trend analysis just turns people into pump an dump sheep causing people to repeat history over and over

dont treat trend analysis as technical . and stop even describing trend analysis of historic price as 'technical'

if you want to do proper technical analysis find things outside of the historic price. that way you can be first to set new trends rather than just repeat history and be last to react

remember once you hear someone prompting a action, your the last to hear.
dont be a sheep, become a shepherd
use real technical stuff thats not just price history

[chaoscoinz]

I think it really depends on how you approach the perspective. Technical analysis is a vital tool to help create a visual perspective of the past and present market states and also helps for predictions of future market movements. I believe that there are many approaches that one can take when it comes to technical analysis, however that doesn't mean that the conclusion within the math guarantees the forecast. All that technical analysis can do is give you the data, hard mathematical facts collected from the past and the present market states. When dealing with Predictions/estimations/forecasts/augury, you dwell into the realm of uncertainty, whereas several anomalies (unknown variables) could occur altering the course of events which could result as a failed prediction.

[error08]

trend analysis predicts nothing.
trend analysis just turns people into pump an dump sheep causing people to repeat history over and over

Technical analysis based on market trends, yeah you can call it trend analysis.
However, TAs always different depends on who made it up, since bitcoin tends to repeat the cycle happened before, the history may repeat over again.
It does affect people's decision, but we have the bigger picture here, bitcoin will rise towards halving and every dip is a chance to buy more.

[Wintersoldier]

In my personal experiences, technical analysis does really helps in predicting the future market price of Bitcoin especially for a short term market analysis, but if we are to predict the market price of bitcoin with a higher chance or certainty, we should incorporate the outside factors that might affect the market such as the headline news which mostly affects the perception of investors when they saw it in different trading signals or cryptocurrency news platforms. If we are to rely only on the technical analysis or the trend analysis as our basis for prediction, it is not always providing a huge possibility of predicting the close market price. I definitely advise especially to newbies in trading to consider studying both technical and fundamental analysis. If they have much time, they can also conduct sentiment analysis from their friends and peers.

[bounceback]

You can analyze the direction of the price using a chart or TA, but this is not an ideal forecast. It must be remembered that Bitcoin is very volatile and something can always happen that is not according to plan.

Basically traders use bitcoin technical analysis (TA) to get high profits with bitcoin, but for me personally it is not very useful to use TA because I think to predict future bitcoin prices is certainly very difficult even though TA shows direction to its users, maybe only some traders can control the market price with that system. maybe we are better off balancing technical and fundamental analysis in bitcoin trading so as not to lose.

[Darooghe]

Technical analysis works within certain boundaries for certain applications but only in a market that is liquid enough for big traders to not be able to manipulate it. Crypto does not have that liquidity yet, so the profits you make from applying Technical analysis is down to luck. I think Crypto is more about news. So technical analysis is completely useless at the moment. You may see certain patterns here and there but price does not respect it. until there’s more volume, this is how it will be until then, completely volatile and directionless. However, without a combination of fundamental and technical analysis, you will depend on chances too much.

[meanwords]

Charts do help at some point. It makes you more confident about your investment short term but of course it all depends how you will use your coins. For long term, charts does become more redundant because of how Bitcoin moves and how volatile it is. Charts cannot tell the up coming news, hypes, or any kind of factors that would affect Bitcoin. It does help, but I still wouldn't fully trust those charts, especially those in the internet.

[riso2015]

Sometimes yes, sometimes not, technical analysis must be accompanied by fundamental analysis so that the results given will be more accurate. But sometimes they only give false signals that make us a loss and wasted time. You better learn for yourself how to analyze Crypto price movements in the market.

[Pamadar]

Charts do help at some point. It makes you more confident about your investment short term but of course it all depends how you will use your coins. For long term, charts does become more redundant because of how Bitcoin moves and how volatile it is. Charts cannot tell the up coming news, hypes, or any kind of factors that would affect Bitcoin. It does help, but I still wouldn't fully trust those charts, especially those in the internet.

Chart can be a good basis if you do understand the market fluctuations, when you are willing to take the risk and you have the nerve to follow
your instinct. Understanding the situations and how the hype brings movements once news being broadcast though is unpredictable by any charts
since the behavior of the market always depends on how traders and investors react either pump or dump trend.

[KennyR]

Charts do help at some point. It makes you more confident about your investment short term but of course it all depends how you will use your coins. For long term, charts does become more redundant because of how Bitcoin moves and how volatile it is. Charts cannot tell the up coming news, hypes, or any kind of factors that would affect Bitcoin. It does help, but I still wouldn't fully trust those charts, especially those in the internet.

Charts are mere sources that has been recorded periodically. This helps in price prediction with comparison, also following the charts we can't make buys or sells because we don't know whether the market is moving on the technical pattern or it is functioning over the manipulation.

Everything we do with cryptocurrency is upon trust, if our prediction coincides we get profited and if we lacked in accuracy of prediction we need to hold until the expectation is achieved.

[adaseb]

This question is actually asked in many different assets that are tradable, whether its stocks, bonds, commodities, metals, indices, etc. And the answer is always the same.

Technical analysis is not a very good indicator of predicting price movement but it's the one with most success either way because it's what everybody uses these days. Most can't trade with fundamentals unless they got some insider scoop or are taking long term positions.

But with technical analysis everybody uses the same tools and indicators so you can tell where there might be a reaction since most people are looking at the same thing. Like when $6000 broke last year, everybody went short because it was important resistance.

Then there are times when you can be the smart trader and go against the too technical traders and trap them. This happens with Bitcoin a lot and it's usually those SFP trades which seem to have a lot of traps especially on the daily charts.

So it's not a useful tool to use but it's also the best of the worst out there. You just need to find a way to make profit off it.

[Astvile]

I believe that TA's being given out is just a piece of sweet-talking for you to buy their bitcoins especially in price dumps and pumps. I don't follow and I don't have a plan to follow anyone TA I will follow my guts and either lose or win I'll be happy with it.

[Fundamentals Of]

More often than not it is better to use fundamentals rather than technical analysis. Technical analysts are like fortune-tellers, they often go wrong. Or they are always right because they are always vague. They do not tell you exactly what will happen really. They will just tell you all the possibilities that there is no way for them to go wrong.

[Bitcoin_bullish]

I use TA as it was supposed to for investors. I use daily and weekly charts and it's all good there. Now if you trade the 15 minute or hourly you gamble most of the times.

[fuguebtc]

I don't follow BTC technical analysis and charts, they don't make any sense in crypto world. BTC has its own mood of going up and down which no TA and and chart can predict. I never do day trading thats also one reason of not following TA and charts.

[panganib999]

Well, technical analysis might not give a hundred percent accuracy, it still provide help in decision making while trading especially in knowing when to do enter and make exit points. This trading strategy is employed to evaluate investments and evaluate trading opportunities using history or past trading activities that can be seen on charts. Its nature of predicting security future price movements based on past patterns of price movements using both behavioural economics and quantitative analysis, it provides data that willl be use by traders to identify profit.

[coolcoinz]

I don't follow BTC technical analysis and charts, they don't make any sense in crypto world. BTC has its own mood of going up and down which no TA and and chart can predict. I never do day trading thats also one reason of not following TA and charts.

I sometimes do, for fun. It's exciting to see what other people see in their crystal balls.
The thing with TA is that before it happens TA can be reshaped to show what you want it to show and once it happens it can be shaped to prove that you were right.
I also like TA because when you see the majority waiting for something to happen it doesn't happen. Like when we were falling below 500 USD people were saying it's the end of Bitcoin and that we're going to 0 now, but we didn't, just like last year people were saying we're going back to 1k and we didn't.
You can quote me on it, but I believe we're never going to see sub 1k again. This is all the TA that I need.