Do You Use Technical Analysis?

[trickys]

Do you use technical analysis when you trade bitcoin?
If yes, what are the best strategies? Bitcoin is so volatile now.

[jackg]

The best strategy when it comes to trading is finding a mix of others that you can make your own and adapting it.

If you don't have the time or effort for that, your best stragety might be deciding simple buy and sell conditions based on what you think should work (for example, dollar cost averaging).

Volatility can help and hinder with trading too. You don't want to go too far down if you get a few losses in a row. Generally don't trade with more than 1-10% of your portfolio (once you feel experienced and have a profitible strategy) and don't also want to make yourself lose a lot in a day - you might want to take the day off if you lose a trade for example or distract yourself for a few hours.

[Xampeuu]

yes I use technical analysis to take transactions. for me there is no best strategy, depending on which strategy we are comfortable using, I think indicators can help us to get signals, but also everyone is different in the comfort of which indicators to use, and of course we must be able to know how to use indicators correctly

[mk4]

Do you use technical analysis when you trade bitcoin?

I mean, why even day trade if you're not using TA lol. Where the heck are you going to base your trades from.

If yes, what are the best strategies?

There is no "best trading strategy" just like how there isn't such thing as "best business strategy". Traders try out multiple strategies, and use the one that works best for them.

Bitcoin is so volatile now.

Bitcoin has been volatile since forever.

[michellee]

What do you expect from that? I mean, you can use any analysis you want based on what you learn but we use a different strategy in the analysis. I use not a too complicated strategy to trade means, I buy a coin when the price is down or the big red candle is at the market and I decide to buy for $10-$50. If the price does not increase, I will not have a problem holding for more until the price increase. I am not in a hurry to sell the coin, especially if there are no fast-moving of price.

That will work for bitcoin. If you buy bitcoin when the price is down, that will be a good decision because the price will go up later, no matter if that needs a week or so to increase. But if you do day trader, that will require more things to analyze because you need to find a good time to buy and sell and maybe, you should do in fast buy and sell to make a profit.

[bittraffic]

BTC is volatile since the beginning of it. Investors are just holding BTC because of its volatility, they still profit from it by just holding.

The best strategy so far that I do is just buying at the bottom and selling on the ATH. Technical Analysis for this strategy doesn't need a lot of indicators but just RSI. Not the best strategy for some especially for the guys who always want to watch the price in the daily chart but it's effective for patient traders.

[Oshosondy]

Do you use technical analysis when you trade bitcoin?

If you do not use technical analysis for day trading, that means you are not trading, you are gambling. Gambling while trading will surely lead to significant losses.

If yes, what are the best strategies? Bitcoin is so volatile now.

You will have to use low amount of money, do not use fundamental analysis to joke also, check the candle sticks always and set it to 15, 30 minutes and 1 hours, check for when the market decrease significantly and buy or when the market increase significantly and sell but be careful because that does not mean you can not still lose.

[BayAngelo]

Honestly, i have traded for long and I have tried learning TAs to do my trades. it looks like I am not getting the best out of it. i have tried copy trading. it was successful for a while but I can't stand the fees so I have to pull out. i now follow chats shared by professional traders and it has been wonderful for me. i think I better stick with that one. maybe I will also learn from it.

[Wexnident]

If you're trading you're naturally going to use TA's. It's your bread and butter imo, though it would require you to study a lot if you actually want to continue since you'd have to mix and match a lot of stuff so that it could fit your trading strategy. Just keep testing honestly, there's no single best strategy cause if there was, do you honestly think people wouldn't have used it now? or would it actually have stayed hidden for long? Plus, volatility shouldn't be an issue since it always has been there. It's not going to go away even if you have the best TA in the world.

[mardaed]

Of course, all  users use technical analysis to analyze the market. No one will enter a trade without doing technical analysis it is just you are playing gambling and just betting without knowing what is happening, there is a lot of strategy you can use there are some common strategies and you can make strategies on your own but not all strategies works every time since just like what you have said the Bitcoin is really volatile.

[Alisha FR]

I don't use analysis. but i use strategy.
There are three trading strategies that I use.
The first method that is generally used by traders is to stick to the values that we set ourselves to get limited profits when the market is rising.
the second way is short-term trading, of course, monitoring price movements on the exchange at any time.
the third way is to invest in the long term, ie within one month without paying attention to market movements.
Hope it is useful

[jossiel]

Do you use technical analysis when you trade bitcoin?
If yes, what are the best strategies?

No.

I've given up long time as a day trader. I still have another strategy and that is to just sell when I'm up for the profits and that's so very usual and easy strategy.

Bitcoin is so volatile now.

Not only now but always.

[palle11]

If yes, what are the best strategies? Bitcoin is so volatile now.

If you are a trader and your strategy isn't working anymore to pick profit for you what you can do is to cut down on how many trades you go for and that has a lot to do with controlling your emotions. Your emotions has to be on check for you not to jump into every market that looks like opportunity. A volatile market means it has taken a trend and if you enter an order against the trend after few minutes you start recording losses. Be watchful about that, the trend and continuously use stoploss.

[Ararbermas]

Do you use technical analysis when you trade bitcoin?
If yes, what are the best strategies? Bitcoin is so volatile now.

of course it's required, and for your information not just on bitcoin wherein its a must everytime before you place an order just to assure everything will going well afterwards and you can get profits from it instead of losing money.. Because without such ways probably you will end up losses always.. By the way if you don't know how to do it i suggest to make research or go to YouTube for step by step tutorial, maybe its good idea so that you can obtain easily some specific information especially how does it works and very useful to avoid doing mistake in trading.. Just invest time for it before anything else.. 

[cheezcarls]

Do you use technical analysis when you trade bitcoin?
If yes, what are the best strategies? Bitcoin is so volatile now.

No strategy is perfect even if you are using state-of-the-art trading tools especially for technical analysis. However, they are still very useful for you to at least know where might the price go in the future. Personally I am using Newscrypto in doing technical analysis for trading BTC and other cryptocurrencies with the Moonlines tool and it’s free to use and a time saver as well.

But the mostly used tool right now is Tradingview and it’s free to use as well. But yet again, these are just tools for you to improve your trading decisions but no guarantees or promises when it comes to price movement as anything can happen and may let you expect the unexpected.

[Findingnemo]

Relative strength Index (RSI) is one of the commonly used indicator when it comes to day trading Technical Analysis this may give an oversight about how the market condition is there is there is a simple thumb rule exist which is when the value is higher the price is about to drop or the upside down when it close to least.

[sheenshane]

Do you use technical analysis when you trade bitcoin?
If yes, what are the best strategies? Bitcoin is so volatile now.

I didn't use Bitcoin as trading or let say a day trading, I used it as a valuable asset and trade to fiat when there's my profit already.

But yes, there's nothing wrong if you will use technical analysis in trading Bitcoin as your preference.  However, if you're a long-time holder technical analysis isn't necessary because it is based on fundamental analyses that are monitoring some trending news on Bitcoin that could affect the price quickly on the market.

If you mean trading on Bitcoin and Altcoins on the crypto exchange platform, technical and along fundamental analysis are much more important.
Both are very important to have at least a reference on how to predict the market price.

[xSkylarx]

Do you use technical analysis when you trade bitcoin?
If yes, what are the best strategies? Bitcoin is so volatile now.

I do and with the help of other different indicators but most likely focused on the volume, RSI and sometimes on Fibonacci tools. I don't think there's best of strategies out there, I mean who can even find one? I think when it has been traded on the general public it has been that volatile.

That is one of the most well-known indicators, and it is most likely widely used, but people combine it with other indicators to create their own strategy. Well, this is a hotly debated topic because not everyone wants indicators, and some traders only want naked trading. There are also traders who want almost all of the indicators on the chart. There are also gifted individuals who create their own indicators and strategies, which I have mostly used in bitcoin but not in other cryptos due to BTC's high volatility. It's just a straightforward trend-following strategy.

[Hamphser]

Do you use technical analysis when you trade bitcoin?
If yes, what are the best strategies? Bitcoin is so volatile now.

Yes, ive been using technical strategies on the time i had stepped my foot on this market because you cant really just make out decisions whenever there's a news and we know that not most of the time
we've been dealing with news or events in the market which means it is just sensible that you do make use of another analysis just like on TA's.

Common Indicators ive been using.

1. Support and Resistance Line
2. EMA
2. RSI/MACD
4. Fibbonacci

These are the 4 indicators which somehow gives my some idea on where price could possible go but
you should mind off that it wasnt precise from time to time.

[Hypnosis00]

Do you use technical analysis when you trade bitcoin?
If yes, what are the best strategies? Bitcoin is so volatile now.

Yes, of course, and I think, majority of the traders use this. Some people don't find it useful as in their minds that it won't give 100% assurance but at least we got some hints to where the market trend goes. And besides, this is not the only thing we use to trade.

Can we trade not using it (TA)? YES, but you can see the big difference when you are using TA and the bigger chance that you will just lose than having a good trade. You can appreciate more about trading if you were able to know and use TA in your trades. It is not hard to learn this as long as you wanted to know and want to step up.