Crypto Charts Are Garbage

[beerlover]

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

In stock markets there is at least some sort of regulations that makes sure the prices are not really played with all that much. I am sure there are still some insider trading going on and from the ones that we see that gets caught we know that it happens but I am sure there are ton more that doesn't get caught as well. In the end chart reading could work very well for stock markets because of the regulations and rules of stock market trading.

However, in crypto there are no regulations that can stop you since bitcoin is decentralized and you can buy 1 billion dollar worth of bitcoin today and nobody can stop you, you can also sell 1 billion worth of it and nobody can stop you from that neither. If you are in a country with laws regarding profits or losses, you will have to pay taxes or explain where you found the money and so forth but you can not be stopped, if you are not in a country like that, nobody will even notice it.

[Vaculin]

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.

that's correct, what's more accurate is the news as that would drive the hype.
just like this year, if you are just basing on the candlestick and you don't consider the coming halving, you won't think that the start of the year is bullish.

Charts are very useful but its not the only useful thing to determine the future movement of the coin we are analyzing. 

[ultrloa]

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.

that's correct, what's more accurate is the news as that would drive the hype.
just like this year, if you are just basing on the candlestick and you don't consider the coming halving, you won't think that the start of the year is bullish.

Charts are very useful but its not the only useful thing to determine the future movement of the coin we are analyzing. 

Sometimes I don't ride with the news since it's deceiving but what I am doing is reading the chart where we can see an indicator on what will happen next although this strategy is not really accurate but still a good bases for traders to win, And this is really helpful for newbies since if they can learn it they can figure our on what will be the outcome for analyzing the movements of there beloved coins.

[quarkfx]

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.

stocks markets volumes are good so you can see continuous candles , but in crypto volumes are less then stock market and volatilely is more so you cant expect same things to work in crypto markets   

[ethereumhunter]

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.

stocks markets volumes are good so you can see continuous candles , but in crypto volumes are less then stock market and volatilely is more so you cant expect same things to work in crypto markets   

Yeah, I think if he wants to do crypto trading, he should learn about crypto trading and don't use the analysis of the stock because that will be different. The crypto market has more volatile than the stocks, and the price in the crypto market is not only based on the economy on the country, what happened to many countries, but is more than that. The charts in the crypto market can help someone to analyze the price trend, but of course, we need to learn about the indicator so we can make predictions where the price will move.

[coinfinger]

Meehn, it’s not only by reading the charts, there are other facts that you will have to consider as well which are very important. Cryptocurrency can be affected by events that take place in the market, and lots of things happen, you just have to be following up with the biggest events that take place in the market and that way you will be able to tell where the market would likely be heading to.

If you’re going to be focusing only on technical analysis you’re going to be getting it wrong. I have seen people that tried it and even applied the best strategy and it still didn’t work out. That’s why McAfee said that Bitcoin is the worst asset because he has tried a lot of times to predict the price using TA but he couldn’t lol.

[ScamViruS]

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.

The chart only gives you an idea of ​​what kind of market changes you will happen in the future. The chart will not give you 100% sure signal, It's only give a idea about market. Now it's up to you how you use your strategy. I have seen many traders who do good trading by analyzing charts. So I think the chart is not bad for trading, if you have technical analysis knowledge.