network99 (OP)
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May 13, 2021, 11:01:05 AM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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hugeblack
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Buy/Sell crypto at BestChange
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May 13, 2021, 04:38:10 PM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
Bitcoin dominance is not an index it is another useless number that used to show how many people invest in bitcoin or Altcoin (too many of fake volumes) MarketCap: another useless indicatior. The thing that can be monitored is PlanB as a long term indicator, mining prices, halving, network technical developments, and news that affect demand.
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BitMaxz
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Block halving is coming.
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There are lots of indicators actually but it depends on you on which one you want to use MACD, RSI or EMA are mostly used to get some signals. But I suggest go to tradingview and look for EMA 20/50/100 and Willams fractal there is a guide on youtube on how to use them. Here's the sample video for Williams fractal https://www.youtube.com/watch?v=juZlrecsItsFollow that guide he has lots of strategies that you must learn to become a pro in trading.
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The Cryptovator
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Need PR/CMC & CG? TG @The_Cryptovator
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May 13, 2021, 06:37:31 PM |
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I fully agree with BitMaxz. To become a pro trader you can't depend on any single thing during trading. I am not a pro trader, but I know we shouldn't depend on in single thing like dominance. Even we should keep an eye on crypto-related news if we want to take advantage of crypto trading. For the holders, it doesn't necessary to look at many things. But as a trader, we need research many things. I give more priority to the real-time movement of a coin and previous history. The chart doesn't indicate anything for me. A coin creates a chart, a chart can't drive a coin.
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agustina2
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May 13, 2021, 07:57:03 PM |
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for cryptocurrency, we should monitor what things to indicator ? for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
Indicators will tell you what should be the possible thing to do next. Any type of indicator will do based on your preferred one. By monitoring actions within a specific timeframe, you can tell if on what point does the price overbought or oversold. This will take time to learn and understand so just continue learning how indicators and signals work.
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livingfree
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May 13, 2021, 08:04:08 PM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
There are many indicators if you're longing to become a good trader. Apart from having more experience, you should check how to read the charts first. And one important indicator is the news. If you happen to have an idea with the Elon Musk's thoughts about mining and bitcoin and why he had stopped accepting payments with Tesla purchases, you see the market plunged.
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carlfebz2
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May 13, 2021, 08:20:54 PM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
When it comes to indicator then it would vary to each trader because some do use less and some does have many and here are the common ones; -EMA -RSI -MACD -Support and Resistance Line -BB etc. You should also mind that technical analysis arent precise or does give out guaranteed results for predicting prices. Always consider on minding with Fundamentals too.
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logfiles
Copper Member
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Top Crypto Casino
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May 14, 2021, 06:52:06 PM |
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Bitcoin dominance is not an accurate indicator you can use to study the market. I am not saying the other are 100% accurate but they can help guide you on how the market might behave or help you to make a quicker decision
The most popular ones I use are - Bollinger Bands - Fibonacci replacement used to determine support and resistance levels - MACD - RSI
Look them up on YouTube, you will find lots of tutorials with great explanations in how you can use the tools
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Ararbermas
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May 16, 2021, 03:44:07 PM |
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It depends on what indicators can really tell the right direction of the growth rate. Indeed there's a lot of indicators such Stochastic, Rsi, WA, MACD ichimuko and etc wherein its up to you how to use it .. If you know as well how to combine those indicators to determine the real pattern for sure you can get better results everytime you want trade. Just need more time for more confirmation while doing that buts its worth it mate to do especially if you can make even 10x profits.
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Theb
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May 16, 2021, 04:22:37 PM |
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Market dominance for me is not an indicator as it is just basically a market cap comparison and it doesn't dictate if the prices will go up or down. As for your main question the indicators useful for you will depend on what kind of trading style you are into. There are MAs and EMAs more suited for day trading while there are also MAs and EMAs suited for the long term and that can be said to other indicators as well. But if you want to know the basics you must understand volume analysis as well as basic candlestick patterns as this is one of the fundamentals you need for technical analysis.
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pawanjain
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May 16, 2021, 05:20:21 PM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
You should really consider doing a basic trading course before starting to trade to understand the terms and fundamentals of trading. You can watch videos on youtube to know what types of indicators are used in trading. Once done you can focus on the below indicators and plan your strategy accordingly. For the most part concentrating on EMA, MACD, RSI and Bolinger bands will be sufficient to start with trading.
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Oilacris
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May 16, 2021, 08:53:07 PM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
Technical indicators and Fundamentals. If you do want to be specific then there are lots of those things to be mentioned and also you can mix out different variations that would work on you because some traders do just make use with 1-2 technical indicators and some does have lots it does depend on your preference. With talking about news or events then its really applicable for you to include it into your analysis together with your technicals or simply to be mixed up. Dont let yourself get confused because its not really that complicated if you do ask me.
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Ryker1
Sr. Member
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Activity: 1918
Merit: 442
Eloncoin.org - Mars, here we come!
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May 16, 2021, 09:33:19 PM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
Well, there is a lot to monitor if you are a short-term trader or scalper. Not only indicator but everything that you had know must be applied to every research that you will conduct and of course, don't forget that you must use technical analysis together with the fundamental analysis. There is a lot I can't mention all of them here. But --if you are a long-term investor, there is no need to do that everything, don't even look at the market monthly or else, it should be yearly of every 4 years passed. Because monitoring such coin is not only one, it seems like a package that monitors everything if you are in day trading.
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Silberman
Legendary
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Activity: 2506
Merit: 1334
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May 16, 2021, 10:33:12 PM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
It is obvious that you are completely lost, there are hundreds of indicators out there but there is a great deal of overlap among them, the truth is that you only need a few indicators to get an idea of what is happening on the market, now does that mean that you can use a few indicators to perfectly predict what the market is going to do all the time? Of course not, there is no indicator that can do that, because most indicators are derived form the price movements and the volume, in fact there are many traders that make money in the markets without following any indicator, so I will suggest to you that you really make an effort to learn how to trade before you actually do it.
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samcrypto
Sr. Member
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Activity: 2044
Merit: 314
Vave.com - Crypto Casino
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May 16, 2021, 10:48:39 PM |
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You have to monitor everything as much as possible and use indicators that you understand its work, it’s not easy but its worth it because it can save you a lot of money and prevent you from losing that much. In trading you have to focus on what’s important like the news, price trend and its volume, don’t confused yourself on too much numbers, some of those details are not that strong enough to affect the market.
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Questat
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May 16, 2021, 10:56:51 PM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
For a better analysis, you may have to consider checking them all if you only have enough time to spend on the market. But for me, I give weigh checking the price trend and RSI. These could be enough when you just have a limited time. And besides, it is not all about having those indicators but also matter the coin you use for trading.
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nelson4lov
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May 16, 2021, 10:59:19 PM |
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Hello guys good day
for cryptocurrency, we should monitor what things to indicator ?
for example we should monitor dominance ? we should monitor BTC Price ? we shoud monitor Total ?
can you explaine it and offer me ?
best wishes
Since there are a lot of indicators, it's hard to tell which one you should keep track of and use. There are indicators designed for very specific market conditions or different type of traders.. Even if you're a long term trader, a short term trader or a swing trader, there's an indicator that would suit your trading pattern and setup but you ultimately have to figure it out yourself. You can start working with some basic indicators like the moving averages, RSI, MACD, ATR and others. Read what they are and what each of these indicators does and the kind of market they work best on. Some work better on a trending market, others work in a range-bound market. It might seem like a tiresome job but it'll help you in the long run if you get it right. Thank you. I'll do well to check him out. I'm on a path to improve my technical analysis and trading game.
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OcTradism
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May 17, 2021, 04:50:21 AM |
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- Bollinger Bands
I don't use Bollinger Bands indicator which is too late if you are a trader. It is good if you use as indicator for your investment. You will buy a little bit sooner than the bottom with a little higher price (lower band), and will take profit lower than the peak (upper band). It is good because it can give you a confirmation that is safer. However, if you only rely on Bollinger bands, it is not enough. Not enough even you want to make investment, not only for trading. Resistance, support, golden cross, death cross and OP should learn about them. Bitcoin Support and Resistance for dummies[Tutorial] Golden cross VS death cross
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crzy
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May 17, 2021, 06:04:51 AM |
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Depends on strategy that you are using, I'm just too focus on very few indicators because I believe on their effectiveness and they are working with me. I just look on Price trend, Volume, Rsi, Fibonacci, MA and MACD most of the time but if you're dealing on some project that is highly volatile, I don't think indicators will work, I just used my luck every time I buy those so called shitcoins. You must be more flexible because this market offers different options everyday.
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wahyu wida
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May 18, 2021, 06:57:25 AM |
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Depends on strategy that you are using, I'm just too focus on very few indicators because I believe on their effectiveness and they are working with me. I just look on Price trend, Volume, Rsi, Fibonacci, MA and MACD most of the time but if you're dealing on some project that is highly volatile, I don't think indicators will work, I just used my luck every time I buy those so called shitcoins. You must be more flexible because this market offers different options everyday.
with the more indicators used, it will increase our consideration for the transaction, and I think that is not very good. therefore we use simple indicators that suit our system and most importantly we must be aware that the indicators are not all correct, so we remain careful.
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