Why do you watch crypto chart pattern

[TravelMug]

I don't know of a trader that doesn't make the use of chart. It is more important than some indicators, and some traders consider it as a powerful indicator which I think it is too. Charts are simply the technical ways to know and monitor price action and movement, a fundamental analysis trader also will follow charts to speculate the next price level. For a day trader, using the chart is helpful more than a scalper. Using a longer time for chart analysis is result oriented.

Or trader could call it a friend, so obviously, we watch chart patterns because we wanted to predict what and where will be the next price movement. So it has an advantage, nevertheless, TA is not exact, it has flaw as well. And that's why we love it, its a big challenge for us to find the pattern and definitely will leverage our trades base on how we read and hopefully we are right in validating the patterns, thus making profits for trader.

[michellee]

I do not often watch crypto chart patterns, but if I do that, I want to know where the pattern will go so I can make many strategies for anything that can happen later. Watching the pattern is part of the analysis and I think most traders do that to see where the price will go. But they will have their own analysis because we watch the pattern and have a different perception of what will happen to bitcoin or altcoin in the next hours. Watching the pattern is like predicting the situation on the market but there are other things that you should do to know or predict the price moves.

[Kittygalore]

To see if the movement can be compared to the movement from the past and to see if there's a consistent similarity between the two or if not similarities, probably the differences. I think that's the only reason for me to watch the crypto patterns.

[XCANA]

Taking a close look at the crypto currency chart pattern will give one an idea of where next will be the movement of the market so that you will the trading decision to take. S advisable for one to do so since that is the only to make an informed trading decision. History of the chart 📈📉 do repeat it self most time in the crypto currency market and that is why people do watch past and present chart pattern before taking a decision.

[Rajamuda]

To see if the movement can be compared to the movement from the past and to see if there's a consistent similarity between the two or if not similarities, probably the differences. I think that's the only reason for me to watch the crypto patterns.

And with paying more attention to crypto chart patterns.. we will feel closer to crypto every day and can conclude/consider various issues circulating due to differences in predictions, which sometimes are not certain the truth. In addition, it can help us in choosing the right coins to pick.

[7788bitcoin]

And with paying more attention to crypto chart patterns.. we will feel closer to crypto every day and can conclude/consider various issues circulating due to differences in predictions, which sometimes are not certain the truth. In addition, it can help us in choosing the right coins to pick.

I do not give a damn about these charts, all you can do is comparing and come up with your own prediction as it does not mean anything. The market is not moving along with the charts as you claim. If everyone is able to predict the market by using the charts then no one would be having any losses when there is a correction and there would be experts predicting every move. If you can find one who could predict the market with charts i would accept these are facts  .

[Silberman]

After their spring plunge and summer rebound, cryptocurrencies like Bitcoin and Ethereum have been in a holding pattern for the past few weeks as investors try to decipher their next big move. Interestingly, these patterns appear to be technical patterns such as pennants and flags, which indicate a high likelihood of important moves ahead once cryptos break out from them.

After reaching a high of roughly $65,000 in April, Bitcoin then tested its $30,000 support level, and has since rebounded to just under $50,000. Bitcoin has been forming a pennant pattern in recent weeks, which indicates that another important move will occur once the cryptocurrency breaks out one way or another. A convincing break to the upside increases the chances of a re-test of the prior highs in April, while a bearish breakdown would increase the chances of a re-test of the $30,000 support level.


https://www.forbes.com/sites/jessecolombo/2021/08/31/why-you-should-watch-these-crypto-chart-patterns/?sh=2b47978de5c5

We all know what is coming, the price is about to go up very rapidly at the end of the year, now I would not be surprised if before that we saw an important decrease as the whales try one more time to get weak hands to sell their coins, and to make the price to go down significantly when everyone is expecting it to go up is the perfect way to achieve this, but once that is out of the way the price of bitcoin will grow at an amazing speed and at that time the only thing we need to do is to relax and enjoy the ride and see where the limits of this bull run really are.

[adaseb]

It seems that bitcoin is becoming correlated again with the stock indicies. You can clearly see whenever the stock market has a sell-off so does bitcoin. So you need to consider this. Generally in the stock market, Sept is usually a bearish or sideways month. So bitcoin is generally trading neutral in September. If you look at all the years since bitcoins creation you will see that Sept is not a "very bullish" month, its mostly a doji or small candlestick.

The months which are important are going to be Oct-Nov. Usually that is when Bitcoin has a great month. And there is speculation that during the Summer, alot of companies put bitcoin on their balance shit and these earnings will be coming out at around the same time. So if BTC is to make a new ATH, it will most likely either be in those months. If it doesn't then most likely it'll trade sideways for the next 6 months or so.

[dunfida]

After their spring plunge and summer rebound, cryptocurrencies like Bitcoin and Ethereum have been in a holding pattern for the past few weeks as investors try to decipher their next big move. Interestingly, these patterns appear to be technical patterns such as pennants and flags, which indicate a high likelihood of important moves ahead once cryptos break out from them.

After reaching a high of roughly $65,000 in April, Bitcoin then tested its $30,000 support level, and has since rebounded to just under $50,000. Bitcoin has been forming a pennant pattern in recent weeks, which indicates that another important move will occur once the cryptocurrency breaks out one way or another. A convincing break to the upside increases the chances of a re-test of the prior highs in April, while a bearish breakdown would increase the chances of a re-test of the $30,000 support level.


https://www.forbes.com/sites/jessecolombo/2021/08/31/why-you-should-watch-these-crypto-chart-patterns/?sh=2b47978de5c5

We all know what is coming, the price is about to go up very rapidly at the end of the year, now I would not be surprised if before that we saw an important decrease as the whales try one more time to get weak hands to sell their coins, and to make the price to go down significantly when everyone is expecting it to go up is the perfect way to achieve this, but once that is out of the way the price of bitcoin will grow at an amazing speed and at that time the only thing we need to do is to relax and enjoy the ride and see where the limits of this bull run really are.

You should really be thinking about this probabilities from time to time when it comes to involvement of whales.Of course there would be some shake off that would be happening because there would be always

whales that would really be taking those shake off on the time that they are seeing that the market tends to be shake off for them to enter on more cheaper price before a reversal would happen.

People do really love to watch out patterns and it is somewhat relevant compared on making out decisions without any basis.

[ILuckyGuyI]

We observe the chart pattern of a cryptocurrency that we are thinking of making an investment into it or already invested into it. But this doesn't help us do the right things all the time of course. Because we must be aware that we are dealing with highly volatile currencies. Charts can mislead people a lot like they did a few days ago when the market fell a lot.

[ice18]

Chart patterns is really a huge help to most traders on decision making, without this tool its pretty hard to just predict price movements. When I started my journey on trading, I suffered mostly losing money instead of earning because of lack of knowledge in charts, its your weapon to achieve success when it comes to trading no doubt its really useful.    

[pinggoki]

Charts that have a definitive pattern like bitcoin's and ethereum's help me weigh my decision for when I am to invest and when I am to pull my investments out to save losses. Really that's the primary thing most investors here do with chart patterns for big coins like the one I mentioned above. Otherwise why would you look at a timeline chart of a coin with no real usability or price movement?

We observe the chart pattern of a cryptocurrency that we are thinking of making an investment into it or already invested into it. But this doesn't help us do the right things all the time of course. Because we must be aware that we are dealing with highly volatile currencies. Charts can mislead people a lot like they did a few days ago when the market fell a lot.

Well that too and thank you for putting this into light. Keep in mind that you don't have to use these chart patterns as a gold standard because as valuable as their information may be, these are all just predictions that could go south if things went awry. So do your own research, but make sure that you do your own judgment as well. A lot of people often forget the latter, which costs them hundreds, if not thousands of dollars in losses.

[dimonstration]

Chart patterns is really a huge help to most traders on decision making, without this tool its pretty hard to just predict price movements. When I started my journey on trading, I suffered mostly losing money instead of earning because of lack of knowledge in charts, its your weapon to achieve success when it comes to trading no doubt its really useful.    

Charting is important to atleast have a basis on how much the price can get low or high,trading is already hard and it can be worsen when we don't have a guide to look at. I already lose before since I just buy whenever I thin the price is low and sell when its high where in face I might get more profit if I do know how to do chart and analyze them. Ecery trader even anyone in crypto investing should know how to do and read charts for reference.

[Vaculin]

I don't just watch the crypto patter but also the price, in fact, I'd often check it every day just to know where we are now. For me, it was very important to be aware of the situation, many got mess as they never check on it and usually missing the chance either to buy or sell. Some saying that looking at the chart makes them get worried especially when it dumps, I don't think that was an excuse because you could still feel that even you never do it.

if you are in crypto, you definitely have to do this otherwise.

[GreatArkansas]

There are different people in crypto, traders, investors, or even non-crypto people, they are still watching or observing cryptocurrency markets.

So if you are a trader, probably you are spending a lot of time in chart, identifying different patterns of indicators that may help you to enter a good trade.
So, if you are just a normal cryptocurrency investor, it is suggested not to check the chart from time to time, especially if you are long-term investor, it will just make you stress.

[gabbie2010]

Taking a close look at the crypto currency chart pattern will give one an idea of where next will be the movement of the market so that you will the trading decision to take. S advisable for one to do so since that is the only to make an informed trading decision. History of the chart 📈📉 do repeat it self most time in the crypto currency market and that is why people do watch past and present chart pattern before taking a decision.

That is exactly what I do consistently everyday, I installed 2 moving averages on my chart just to indicate the trend of the market while waiting for the appropriate chart pattern to form after a price pullback in the opposite of the overall trend, I will wait for an opportunity to enter long or short, the importance of chart patterns analysis cannot be overemphasize for any successful trader, once a trader is used to it, the patterns historically repeat itself over and over, its up to every crypto traders or hodlers to take time and practice charting patterns knowing it will aid or guide them towards making profits consistently.

[RealMalatesta]

Interestingly, these patterns appear to be technical patterns such as pennants and flags, which indicate a high likelihood of important moves ahead once cryptos break out from them.

What is your point? Have you ever spotted any non-technical pattern in bitcoin markets? Bitcoin market is nothing short of any other markets like forex or stocks; bitcoin market is having similar massive volumes in major exchanges hence when a market is having good volume then it will definitely obey all the technicals of trading.

A convincing break to the upside increases the chances of a re-test of the prior highs in April, while a bearish breakdown would increase the chances of a re-test of the $30,000 support level.

Yeah, this is how bitcoin market is being trading since I started watching it from 2013. Do your technical analysis have anything new to surprise this community? I mean that we are all expecting about reaching $100k before end of this year and there could be less possibilities for going back to break $28k again but if your chart patterns get anything new to support these or to oppose, then we are all glad to have them.

[Silberman]

There are different people in crypto, traders, investors, or even non-crypto people, they are still watching or observing cryptocurrency markets.

So if you are a trader, probably you are spending a lot of time in chart, identifying different patterns of indicators that may help you to enter a good trade.
So, if you are just a normal cryptocurrency investor, it is suggested not to check the chart from time to time, especially if you are long-term investor, it will just make you stress.

I am going to agree with this, different people have different needs, a trader is going to need not only to watch the charts all the time every single day but they also need to be very proficient on their ability to read them, however someone that is an investor doesn't really need something like this and they can get away with just watching the charts once every week just to know how their investment is going on and they do not really need a lot of skills to read what the market is going to do in the short term because they don't need to.

[dezoel]

I do not check the patterns or TA or anything to make my investment because I am a long term investor. It could be 44k, it could be 40k, it could be even lower and I would still keep on buying and hoping that it will go up. If you give up on crypto than crypto will give up on you.

The only way to make a profit on crypto is to believe that you are going to make a good profit, and it will go up. If you start thinking that you will not make a profit and the price is crashing and you should get out etc etc. then you are going to be feeling that loss in the long run. I have to say if you insist on making a profit here, then you must think it will go up in the long run.

[Hamphser]

There are different people in crypto, traders, investors, or even non-crypto people, they are still watching or observing cryptocurrency markets.

So if you are a trader, probably you are spending a lot of time in chart, identifying different patterns of indicators that may help you to enter a good trade.
So, if you are just a normal cryptocurrency investor, it is suggested not to check the chart from time to time, especially if you are long-term investor, it will just make you stress.

I am going to agree with this, different people have different needs, a trader is going to need not only to watch the charts all the time every single day but they also need to be very proficient on their ability to read them, however someone that is an investor doesn't really need something like this and they can get away with just watching the charts once every week just to know how their investment is going on and they do not really need a lot of skills to read what the market is going to do in the short term because they don't need to.

There are really people who do really mind on watching charts most of the time and there are people who doesnt and this is actually depending on what type of trader or investor you are because not all woould really be just the same which it would really vary and differs.

And also watching out chart patterns is much more better rather than having no basis at all in regards into your trading decisions.TA's might not be precise but it is much prefer rather than doing nothing at all.

Its up on someone to take whether they do like to watch for some patterns all the time or would really be on situational.