Crypto Charts Are Garbage

[carlfebz2]

They are not garbage but if you will solely based on them in making a judgement, that would not make you successful.
You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.

Without using the chart, and only depend on the hype, FOMO, and the FUD, he cannot analyze too because he needs to analyze the movements from the chart. So it will have a connection between chart, hype, FOMO, and the FUD so you can analyze better than other traders, and that means, you will have a chance to make a profit.

Crypto charts are not garbage as long as you can use it with the right. You will have a sign or guide to predict where the price will move in the next hours. But you need to have the knowledge to analyze the chart so you will get the other clue besides using the hype, FOMO, and the FUD, and perhaps, you will have a good prediction about the price and the next movements of the coin.

That is what I am saying but we can't just fully rely on the graph and say, "HEY! I know what will happen next, I can see the trend".. with that as your way of predicting the price, that would not give you success, news is the best information and think what the majority would think, then analyze your decision.

Why would need to choose among on the two if you can do both? Theres no such prohibition on using up two analysis which is technical and fundamental.

Lots of traders do really apply this kind of system,wherever there are valuable sources of information and at the same time have some solid signals then collaborating the two
might give out big results.

It will just vary on ones decisions on when he would go in and would go out.

[FanEagle]

Why would need to choose among on the two if you can do both? Theres no such prohibition on using up two analysis which is technical and fundamental.

Lots of traders do really apply this kind of system,wherever there are valuable sources of information and at the same time have some solid signals then collaborating the two
might give out big results.

It will just vary on ones decisions on when he would go in and would go out.

Why not three or four or more strategies? Yes, I am serious about that. When two logically completely different strategies are spotting same price levels for buying/selling then the accuracy for being correct must be nearly 100%. Coincidence of different strategies might be having more power than we could imagine. (Honestly I just forget the term for technically what people do refer when more than one technical analysis sporting same price level for market action.)

At the same time technical and fundamental analysis will not do that because they are making use of completely different data but will be giving you what you need to do at the particular time of trading. You may still work on both of them for the confident trading.

[wx016]

Charts are Charts! period!. All you need to do it's understand how the market it's moving,  charts give you a general idea of it. But be also careful you don't know when  fundamental news can  throw to the garbage your analysis.   

[sana54210]

Yeah, differentiating the good ones from the bad ones are the real trouble to people who do not read charts themselves. When you go into chart reading world you will realize that there are many people who are horrible at this but still continue to make charts and tell people what bitcoin will do and you are scared that people may actually believe them, that is why if you want to listen to other peoples chart readings and you want to take them seriously, you should first learn about it yourself.

If you can't read charts at all, you should not look at others as well since they could be very good at their job or maybe they are just making stuff up and newbies themselves, so you can't be sure.

[MWesterweele]

Yeah, differentiating the good ones from the bad ones are the real trouble to people who do not read charts themselves. When you go into chart reading world you will realize that there are many people who are horrible at this but still continue to make charts and tell people what bitcoin will do and you are scared that people may actually believe them, that is why if you want to listen to other peoples chart readings and you want to take them seriously, you should first learn about it yourself.

If you can't read charts at all, you should not look at others as well since they could be very good at their job or maybe they are just making stuff up and newbies themselves, so you can't be sure.

For me I see no problem about monitoring for the crypto chart because it is still depend on you if you want to believe to it. This kind of chart give only a possible happen in the crypto, but it doesnt mean you need to follow or believe on what ever it say about crypto. For me its better to have enough and own knowledge about the chart and youre the only one who can say if its worth to believe or not.

[nelson4lov]

After reading through the thread, all I can say is that:

– Technical analysis /charting is still a vital part of trading cryptocurrencies.
– Charting works with other forms of analysis (fundamental and sentimental). Being more flexible with more than one analysis type can increase one's odd.
– Technical isn't a guarantee to make profits.

The truth is that technical analysis still works despite the volatility with cryptocurrencies. These days, TA + price action gets the job done. If tge market is evolving, do the same.

[LbtalkL]

For me, Charts and indicators are just guide for us to make a better decision on trading it is not guaranteed to be correct all the time, I guess some assume that chart does not lie but I don't think so, crypto is sometimes really unpredictable. But learning those indicators, charts, recent news is better than nothing.

[dunfida]

Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.

I can see candles on the chart of crypto so I think it can be based on that. Even if there’s a big volatility in cryptomarket, i still depend on its chart to see the price movement and as a trader, I really have to rely on that. Candles in stocks and cryptomarket are different because of its volatility, but it still have the same concept.

It indeed on the same concept and i do heavily agree on what have said above that its better to make use of technicals rather than trading blindly
because you are just basically doing gambling in that case.

Trash for others but this one is a gem for some.I do rely also on technicals but i cant really deny that volatility can anytime wreck your Candle stick readings
unexpectedly and on high intensity.

[RealMalatesta]

Without using the chart, and only depend on the hype, FOMO, and the FUD, he cannot analyze too because he needs to analyze the movements from the chart. So it will have a connection between chart, hype, FOMO, and the FUD so you can analyze better than other traders, and that means, you will have a chance to make a profit.

Crypto charts are not garbage as long as you can use it with the right. You will have a sign or guide to predict where the price will move in the next hours. But you need to have the knowledge to analyze the chart so you will get the other clue besides using the hype, FOMO, and the FUD, and perhaps, you will have a good prediction about the price and the next movements of the coin.

That is what I am saying but we can't just fully rely on the graph and say, "HEY! I know what will happen next, I can see the trend".. with that as your way of predicting the price, that would not give you success, news is the best information and think what the majority would think, then analyze your decision.

Basically you would have to spend lot of your time in learning about the trend. You have to follow news but also you do not have to get affected by the FOMO going around. You have to make your own technical analysis and the charts would be the basic start for this. You have to learn a lot of new things before starting with trading if you want to have profits with minimum loss.

Charts are everything which explains about the trend and the market history so I assume them as the start of my TA. Only charts would never give you profits as earning profits is not that easy. You have to continuously speculate the graphs along with watching various news about updates in the markets. Any small change can lead to a huge price error and we should find our profits from such price gaps.

[imstillthebest]

 in what way you read your stock analysis ? via charts too or candle based ?   . i think stocks is like a crypto too because both of them rely on other factors  .  you think its not candle based but many people are still making graphs and based thier moves on it   .

 it does not suck too much because those tools are helpful somehow but obviuosly not 100 percent accurate because if it is then all traders are rich now   .  they are only annoying because they are everywhere , your annoyed if your not a fan of them

[milewilda]

in what way you read your stock analysis ? via charts too or candle based ?   . i think stocks is like a crypto too because both of them rely on other factors  .  you think its not candle based but many people are still making graphs and based thier moves on it   .

 it does not suck too much because those tools are helpful somehow but obviuosly not 100 percent accurate because if it is then all traders are rich now   .  they are only annoying because they are everywhere , your annoyed if your not a fan of them

What are you saying man? The things you do talk is just basically showing up that you arent that much into trading. When you look up charts
the indicators would either be on candle,graph etc. which do indicates prices on a particular time frame.

I wont say that they are garbage because most traders do rely into this analysis.It might not be precise but people been doing or using this stuff
when dealing up with the market.Outcome would either be good or bad because market is always been unpredictable.

[jostorres]

Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.

Some analysis I see don’t only rely on charts to make predictions on where the price is heading to. They make use of a lot of other factors and connect it together to determine where the price is really heading to. If you’re going to be relying on just chart you will keep getting it wrong and predictions most of the times wouldn’t be what is going to happen.

If you check analysis of the top ten cryptocurrencies on coin telegraph you will notice that it’s not just charts that are being used, there are other factors that are involved. Though when you combine all that it still doesn’t guarantee that your predictions are going to be hundred percent accurate.

[Ridwan Fauzi]

Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.

So what your intention to come here? if you are trader stock just trade at there and you will be fine.

We never say that stock is bad or anything else because we know what stock market is. And this is what you need, I mean before you make a conclusion especially bad conclusion who say crypto market are manipulated then you have to give a proof. I myself will accept it every your judgment is true, but if you don't have anything it will be useless.

[Superalgos]

Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.

Only if your charts suck... Mine don't:

[fullhdpixel]

If you have already worked 10 years of your life with the stock markets than you should at least understand what actually candles are. Candles are nothing but just a pattern to show the market movements and we have to make our TA based on the market history.

Crypto markets and stocks markets do not have much difference as they both would only give us great profits depending on our technical analysis. You have to learn more about the charts and patterns and try to devote maximum time towards the crypto markets so that it gets easier for you to start trading. Speaking about the current trend, I can't predict the exact future but a small dip might be expected before the price starts pulling back.

[gabbie2010]

Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.

I really agree with you on this, a lot of the so called expert have lost their reputations due to failed Technical Analysis given over many times. To my understanding,  i think cryptocurrency prices are more control by the potentials of the project behind it than the assumptions of it's traders. Sudden annoucement and project development can greatly influence token/coin price thereby rendering the chart useless. I think this is what causes major failure of technical analyses

The OP dependent only technical analysis not minding any sudden announcement made with regards to that particular coin would definitely defies any forms of TA especially charting techniques.
In stock markets there calendars of upcoming news which service as a guide to a  trader thus enabling a trader to trade with caution whenever a pronouncement that can influence the price movement is made, of cause such is missing in crypto markets fundamentals is the prime mover of prices of cryptos.

[sweetbet]

In the very least, they give you an idea of the support and resistance levels of a coin.

[hahay]

If so, does that mean you consider bitcoin / crypto to move based on a manipulation or something else? Because when you no longer believe in any chart there, at least you are a fundamental trader and I don't think that's bad either, because when you have experience and skills in reading any issues that occur and are accustomed to it, then we don't need to say a chart is garbage because everyone has their own way whatever makes them more confident to do it.

[HakaseMarui]

Bitcoin is based on Candlestick if I am not mistaken, Im actually using that.

[Janation]

Bitcoin is based on Candlestick if I am not mistaken, Im actually using that.

Not actually based.

Candlestick is a strategy being used by the investors to see the indicators, will it start a bull?; will it start a bear market, that will be the basis but that doesn't mean that it is based solely on candlestick. You can still lose since with the volatility of the price of Bitcoin and other cryptocurrencies, you never know what might happen.