what is point of Tehnical analysis?

[justdimin]

not only technical analysis is used, but fundamental analysis is also needed to see what trend will happen next. Because technical and fundamental analysis have a relationship that will affect market prices. Technical analysis has various types using many indicators that can be chosen according to your wishes. One of the platforms that are very helpful for conducting technical analysis is the TradingView platform which is provided with many indicators to choose from and there is also a premium account available to access its premium features.

These analyses are essential for the information and ideas that they provide with regards to the movement in the market. However, despite the data being presented, these cannot be treated as sole predictors of what is coming next since these are not hundred percent accurate and are just tools to help to have a basis in making rated decisions.

The TA people are a bit of cocky in the crypto world because they have the data and others usually don't and that is why you will see them mocking everyone else. I am in favor of buying and holding long term and that's it, I am not really after anything else, however I also know that just because charts show that bitcoin should be going up doesn't mean that it will go up neither, I am aware of that but many TA lover does not realize that and make trades based on their own analysis.

From that, I understand there is a good chance of them being right, because unless something unexpected happens then they will make a profit but that doesn't mean that they will always be right, and just because they are right sometimes doesn't give them the right to be so snob about their method, sure using data to predict is a cool way but it is also not the only way to make profit.

[Fredomago]

Do not forget that all of this only works when the market is doing what is "expected" of the market to do, which means that if you are doing something that is expected and something unexpected happens then you will be losing money. This is not some rare occasion neither, in the crypto world there are thousands of times when the market does something that you least expect and that is why there are many people who end up losing money as well.

Like assume every chart shows that the price will go up, then Elon Musk tweets something terrible about bitcoin, or says they will sell all the 1.5 billion dollars worth of bitcoin or even sold it already, then the price will drop right? Those type of unexpected stuff does happen in the crypto world and there is nothing that you can do in order to make money when unexpected stuff happens. These analysis only work when expected happens.

Very big part of this industries are the news that encircling the market, like what you have said it's annoying that the anticipation is positively but new from big influencers comes up opposing your call, unexpected outcome will surely happened.

TA can bring you good benefits as long as you understand how things being played and you are very much willing to just and change your call if things is not favoring your trading position.

[seleme]

Definitely it is pointless on flat market conditions, TA can be useful to find entry and exit points before entering trades. For spot forex market, the fundamental and technical analysis is essential but fundamental side is what matters for crypto traders no matter what Technical side shows us. Fake breakouts are more possible on volatile crypto markets compared to their alternative financial markets. 
For scalpers, it is a bit different. You have to sit in front of computer and check all indicators one by one to catch a bigger fish. On flat markets, you have to check the oscillators for finding the bottom/top price points and trade based on the values by indicators.

[Hamphser]

Definitely it is pointless on flat market conditions, TA can be useful to find entry and exit points before entering trades. For spot forex market, the fundamental and technical analysis is essential but fundamental side is what matters for crypto traders no matter what Technical side shows us. Fake breakouts are more possible on volatile crypto markets compared to their alternative financial markets.

When it comes to fake breakouts or traps then i have experienced lots of those scenarios all of the years ive been spending time with this market.

Point of technical analysis isnt really having that precise prediction but rather presuming out possible events that could happen ahead but we know that crypto could really fucked up those TA's from time to time.

Its not really that reliable but doesnt mean that it is useless because majority of day active traders is been using this because not all the times they can use up fundamentals because there are
no news that do exist on everyday basis.

[South Park]

technical analysis or so-called chart analysis, where we analyze the candles that have been formed. some use trend lines, some use indicators, etc. I think this is used according to the tastes of each trader. In essence, technical analysis is a way of approaching the market so that we can predict where the market will go

Your explanation is correct. But not only technical analysis is used, but fundamental analysis is also needed to see what trend will happen next. Because technical and fundamental analysis have a relationship that will affect market prices. Technical analysis has various types using many indicators that can be chosen according to your wishes. One of the platforms that are very helpful for conducting technical analysis is the TradingView platform which is provided with many indicators to choose from and there is also a premium account available to access its premium features.

This is another issue, a lot of people use only one of them, they either use fundamental analysis or technical analysis when you can use both, technical analysis is best applied to the short term variations of the price while fundamental analysis is better suited for long term analysis, this means that if your fundamental analysis tells you a coin will go up you can use technical analysis to try to identify the beginning of the trend more accurately and yet very few people do this.

[GreenHash]

There are traders making a lot of money thanks to technical analysis.
Although they do few operations but of great volume, and only when the technical analysis accompanies them in favor.
 

[Smartvirus]

Definitely it is pointless on flat market conditions, TA can be useful to find entry and exit points before entering trades. For spot forex market, the fundamental and technical analysis is essential but fundamental side is what matters for crypto traders no matter what Technical side shows us. Fake breakouts are more possible on volatile crypto markets compared to their alternative financial markets. 

I'm getting a little of something bit of something here with forex analytical methods being the opposite for crypto markets in terms of what to consider but then, it might also be worthy of note that, the fundamental analysis oftens over rides all forms of analysis. Its the main reason behind the falsification of analysis hence, it just hits and the direction changes.

For scalpers, it is a bit different. You have to sit in front of computer and check all indicators one by one to catch a bigger fish. On flat markets, you have to check the oscillators for finding the bottom/top price points and trade based on the values by indicators.

That's the point. Here is the usefulness of technical analysis for which it's importance is felt the most and its all technical, price action and indicator determined trading after establishing or attaining certain conditions to be true.

[wozzek23]

Sideways trends have proved that technical analysis doesn't always mean anything.

About a month ago we hit 30k, and TA is constantly predicting a breakout up or down, usually up, but instead the market crabs sideways, something only a few people predicted, and most of them didn't use technical analysis to figure it out.

TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.

What do you think about it?

Like you have said there: being dependent on the actions taken by whales. That goes to show you that cryptocurrency is volatile, but that’s not to say that technical analysis is useless in the market. No it is useful, but since the market is also being influenced by other factors, that makes it difficult to difficult to actually predict the market by using only technical analysis. You will have to be considering those other factors as well.

There are people, especially day traders that are using technical analysis and fundamental analysis to predict the market everyday and they are using it to make income.

[andriarto]

Sideways trends have proved that technical analysis doesn't always mean anything.

About a month ago we hit 30k, and TA is constantly predicting a breakout up or down, usually up, but instead the market crabs sideways, something only a few people predicted, and most of them didn't use technical analysis to figure it out.

TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.

What do you think about it?

Like you have said there: being dependent on the actions taken by whales. That goes to show you that cryptocurrency is volatile, but that’s not to say that technical analysis is useless in the market. No it is useful, but since the market is also being influenced by other factors, that makes it difficult to difficult to actually predict the market by using only technical analysis. You will have to be considering those other factors as well.

There are people, especially day traders that are using technical analysis and fundamental analysis to predict the market everyday and they are using it to make income.

logically whales will not act every day, so only under certain conditions whales pump and dump market. from that side, every day the market sometimes moves normally, and from that technical analysis reacts, and many are successful. but of course it's not only TA that determines the success of each transaction

[goldade]

If you really do understand Technical Analysis,  then you'd know that it is one of the most important components of trading Analysis. You'd also have realised that Technical Analysis, for the best result, doesn't work alone.
Professional traders understand how to apply the use of TA with other trading indicators to make the most of the market. It is only when you employ the use of TA alone that you face problems like this.

[wahyu wida]

If you really do understand Technical Analysis,  then you'd know that it is one of the most important components of trading Analysis. You'd also have realised that Technical Analysis, for the best result, doesn't work alone.
Professional traders understand how to apply the use of TA with other trading indicators to make the most of the market. It is only when you employ the use of TA alone that you face problems like this.

there are several elements that can lead to success in trading, TA is only one of them, we must know how to use TA, but must be supported by good psychology, so that they support each other to continue to exist in the market. On the other hand, managing finances is also important to avoid greed in trading

[coiner-88]

In the event that you don't utilize cut misfortune dependent on TA, you will lose your capital and when capital disappears, you will battle to get it back. I notice a greater amount of the on-chain investigation that consider request and supply elements, spending design from whales to pack holders, mining hash rate, Human brain research and coin hanging on explicit coins and across the market.

[jostorres]

there are several elements that can lead to success in trading, TA is only one of them, we must know how to use TA, but must be supported by good psychology, so that they support each other to continue to exist in the market. On the other hand, managing finances is also important to avoid greed in trading

I believe that knowing TA and acting according to it are very different things, yes you can know everything about TA but if you make moves only based on TA and nothing more than you are going to end up very upset over long period of time. TA is only good for short period of time and doesn't give you what it will look like in few months, it just shows either that day (or even hour) or it will show you a week from now at most, anything beyond that is very gray area that may not work properly.

It means you need to constantly refresh your TA every hour, to see what is going to happen and whatever move you want to make based on your TA should be done very quickly, buy it and sell it in just few hour span of time, otherwise you are risking everything to change so suddenly. That is why I do not think that anyone should trade without knowing anything about TA, but they should not use it fully neither.

[Kimberl2020]

Technical analysis has failed.
Market makers control market sentiment by releasing bad or good news and news. The current trend is downward, waiting and watching.

[Barinekapaul]

The trading floor or platform is one that is not stagnant but dynamic and as such, slight things done can affect the whole process.
Using Technical analysis in trading or investing is geared towards loss of capital and aimed at profit actualization

In most cases, in long-term trading, it is good to analyze your market of the possible positive and negative trends you are likely to encounter and have positive solutions to them when it finally comes.

So I see technical analysis as a key to compensate the effort of an investor or trader from losses.

[Karish2return]

It simple means that at which time you buy and when to enter into the market that is really simple, because this is known to you only when you study about the coins and study their graphs. Techinal Analysis is very important in trading.

[South Park]

logically whales will not act every day, so only under certain conditions whales pump and dump market. from that side, every day the market sometimes moves normally, and from that technical analysis reacts, and many are successful. but of course it's not only TA that determines the success of each transaction

This is why I do not understand people that blame the whales for every single movement of the market, the whales are too big and any movement they make can be easily observed, most of the small movements of the market are instead caused by retail investors trying to beat each other out, what the whales do is to amplify the movements of the market, so if they see a decent pump or dump happening they use their coins to make it bigger and create a bunch of margin calls against the traders using high leverage and create a snowball effect that definitely crashes or makes the market to skyrocket.

[Rehan Zakir]

If market goes to sideways then it is very difficult to predict what is the next move of market. It is a strong indication of big dump or a big pump.
Then we keep eye on fundamental analysis, because it helps to give direction to move the market. We can predict short term trading and long term holding coins by technical charts.

[Hypnosis00]

If market goes to sideways then it is very difficult to predict what is the next move of market. It is a strong indication of big dump or a big pump.
Then we keep eye on fundamental analysis, because it helps to give direction to move the market. We can predict short term trading and long term holding coins by technical charts.

The market will remain unpredictable no matter what is happening around. Having TA gives you some insight into what will possibly going to happen next but we can't fully rely on this as this will not give us 100 assurance of where the market trend goes by.

Some people that are not good at Technical analysis or even used it but still they survive, however, the chance is very small, most of them suffered big losses and they quit. That pretty obvious how their life ends up in trading as this is not easy work.

Fundamental analysis and technical analysis, all of these are vital things need to acquire in trading if we want to succeed. We can't just decline this nor ignore it as this will be the ticket to our success.

[Menawi12]

logically whales will not act every day, so only under certain conditions whales pump and dump market. from that side, every day the market sometimes moves normally, and from that technical analysis reacts, and many are successful. but of course it's not only TA that determines the success of each transaction

This is why I do not understand people that blame the whales for every single movement of the market, the whales are too big and any movement they make can be easily observed, most of the small movements of the market are instead caused by retail investors trying to beat each other out, what the whales do is to amplify the movements of the market, so if they see a decent pump or dump happening they use their coins to make it bigger and create a bunch of margin calls against the traders using high leverage and create a snowball effect that definitely crashes or makes the market to skyrocket.

we should not blame whales, they are doing their own strategy to earn much profits no matter retail or beginer will be the victim. In this market we should not blame each other and cryptocurrency market work very cruel. Lack of knowledge must be the reason why we easily suffer loss and trapped in whales games.