Do You Use Technical Analysis?

[smartaction]

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

Every traders used technical analysis. No one can trade and profit without technical analysis. Even if you can do profit for 2/1 days without analysis. you will lose a lot later

[lixer]

Every traders used technical analysis. No one can trade and profit without technical analysis. Even if you can do profit for 2/1 days without analysis. you will lose a lot later

Yeah, in my opinion if you remove the technical analysis part from your trading then you are just gambling and your trading is no more a scientific approach driven one. So, profiting just 1 or 2 days and then losing all the capital could not be considered as a method to follow; only consistently profit making alone should be considered as an example.

I am into mid term trading and I am depending on my technical part for all my decisions. I have more than 80% hit ratio as I do simply stay away from market when my technical analysis is not getting me satisfying signals along with ongoing trend of market.

[Bitstar_coin]

One thing I find interesting about TA is each and everyone will always have a different opinion regarding their findings on TA,
Few days back, I was in a telegram group chat where a guy claim that his TA indicates a dump on btc before the year end, he was so serious about his claim that I had to screenshot his post (waiting to see if his TA will be corrector not), while other TAs are bullish this guy is supper bearish,
TA is a good to tool for traders to use to make assumption of price to make a successful trade.

[popeye95]

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

Every traders used technical analysis. No one can trade and profit without technical analysis. Even if you can do profit for 2/1 days without analysis. you will lose a lot later

Every trader used technical analysis but do it really the reason that helps you earn profit? I'm not against technical analysis but sometimes, the market doesn't follow what can technical analysis predict so it was just a tool. Use it but don't treat or too much obsessed over it. Saw so many cases people really hell bent on their technical analysis only to get the wrong result.

[nhaila]

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

I am prefer to future trade in Binance centralized exchange but I always follow 5 min candle chart for my future trade. Without technical analysis, future trade couldn't be possible.

[Zilon]

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

Yes I use technical analysis but for now any strategy you deploy for the bullish run is relevant. No analysis is 100% accurate but the core concerntration is buying  each time a new support forms ensuring you time the breakout quite early take profit on the third candle while you wait for another breakout making your chat look too complicated now isn't relevant since the chat is on a bull run

[FanEagle]

I definitely do not use any TA right now because it is a bull run and in a bull run you do not even need a TA type of deal to make a profit because you are going to be making a profit anyway so why care something about what's going on in the crypto world and trading world when you could just hold and still make that type of profit anyway?

This is why I believe that there is a good case that you could be making a good profit anyway without caring about what type of situation you are in, just focus on doing something that would basically be holding and accumulating and you will be richer so there is no reason to do something like TA right now. I personally believe that TA is overcrowded and people are looking at it like it is a method that you could be making a guaranteed profit if you are great at TA but that doesn't mean that you would be making that profit at all.

[Mpamaegbu]

Do you use technical analysis when you trade bitcoin?

But of course, what else would one be doing trading without Technical Analysis? How would one even be able to navigate the murky waters if not with the help of TA? Yes, to your question.

If yes, what are the best strategies?

There's no holy grail in trading. I rely on leading indicators as a major part of my TA, even while taking cognizance of the fact that the market (crypto market) is a highly speculative one and nothing is that certain.

Bitcoin is so volatile now.

This is even what makes Bitcoin enticing and exciting for traders. Once the market goes to sleep, a lot of traders don't like trading it. I believe the volatility is a plus for Bitcoin.

[Natalim]

Do you use technical analysis when you trade bitcoin?

But of course, what else would one be doing trading without Technical Analysis? How would one even be able to navigate the murky waters if not with the help of TA? Yes, to your question.

If yes, what are the best strategies?

There's no holy grail in trading. I rely on leading indicators as a major part of my TA, even while taking cognizance of the fact that the market (crypto market) is a highly speculative one and nothing is that certain.

Bitcoin is so volatile now.

This is even what makes Bitcoin enticing and exciting for traders. Once the market goes to sleep, a lot of traders don't like trading it. I believe the volatility is a plus for Bitcoin.

Volatility makes the world of traders more exciting. Although it may bring a negative thought when it comes to price fluctuations but for traders, its a big word that makes them trade every now and then.

I usually use technical analysis more than its fundamentals but the fact that this crypto market is so unpredictable due to its volatility, i end up using multiple strategies that will make me more profitable. But the best trading strategy i think that has less risk and what most of the traders are using is that buying from the dip, and selling in its peak. Even if you just sit the whole day waiting for the target price to reach, you will still make profits once the market price reaches its ATH.

[Questat]

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

Yes I use technical analysis but for now any strategy you deploy for the bullish run is relevant. No analysis is 100% accurate but the core concerntration is buying from each time a new support forms ensuring you time the breakout quite early take profit on the third candle while you wait for another breakout making your chat look too complicated now isn't relevant since the chat is on a bull run

right, none of the strategies achieve 100% accuracy. we must be able to respond to it in order to always survive in the market. therefore we must know how to use our strategy, so that when the market does not support us we do not force to enter the market or vice versa, because sometimes our psychology is disturbed

Versatility is very important in trading and that is why we don't have to stick to a single strategy, if it is a need to switch to others we leave no option but to do it ASAP. Having technical analysis is helping is to become well-prepared and can anticipate the incoming.
Anyways, we all have different strategies, the success of our trading journey is not all about Technical analysis but it matters a lot on how we respond to every situation we've faced.

[so98nn]

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

TA is mandatory these days considering how bitcoin is working. Actually bitcoin is volatile that is the reason you should be using TA and Fundamental analysis in the first place. You will be able to judge the sure path of trade once you master in the same.

Honestly I never got the chance to do so. I am solely working with my friends to understand the bitcoins next move. Those who are expert in the field (mostly they do share market) but I take their help to predict the bitcoin movement. They use amazing theorems available in the TA methods which helps detect the bitcoin movement.

Since I’m not the direct user of the TA, but with what I saw can be done with TA you must learn if you gonna be full time trader.

[Kasabus]

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

TA is mandatory these days considering how bitcoin is working. Actually bitcoin is volatile that is the reason you should be using TA and Fundamental analysis in the first place. You will be able to judge the sure path of trade once you master in the same.

Honestly I never got the chance to do so. I am solely working with my friends to understand the bitcoins next move. Those who are expert in the field (mostly they do share market) but I take their help to predict the bitcoin movement. They use amazing theorems available in the TA methods which helps detect the bitcoin movement.

Since I’m not the direct user of the TA, but with what I saw can be done with TA you must learn if you gonna be full time trader.

Technical analysis should always be present if you are trading bitcoin. This will help you to come up with good indicators that will let you know how the market moves, identify the trends and create good predictions. Together with fundamental analysis, a bitcoin trader will develop good investment strategies so that trading will be more prone to success and create huge profits in the future. Without technical and fundamental analysis, i don't think how will a bitcoin trader be able to make profits due to its volatility.

[Anguwa]

Bitcoin is always volatile, I don't think I need an extra minded analyst to trade bitcoin. All I am doing is to make some research and do some price and market analysis myself, buy bitcoin, then when it's up and I am sure I am in profit, I then sell. I do so for bitcoin because of the trust and the volatility it has, if not some Altcoins need deep analysis before trading them.

[matchi2011]

Technical analysis should always be present if you are trading bitcoin. This will help you to come up with good indicators that will let you know how the market moves, identify the trends and create good predictions. Together with fundamental analysis, a bitcoin trader will develop good investment strategies so that trading will be more prone to success and create huge profits in the future. Without technical and fundamental analysis, i don't think how will a bitcoin trader be able to make profits due to its volatility.

TA will help you to increase your chance succeeding from this business, if you know how to calculate and you are good
in analysing the potential, Bitcoin's volatility provides good opportunities. If you understand the market well, TA can give you
good target to place your buy and sell orders.

Not easy but it's doable if you are really keen on mastering the system, this tool can establish good strategy when you deal
with your trading practices.

[Ryker1]

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

Well of course --yes!
Sometimes when you forecast and predict the market price you need a tool to use and I think a simple plotting a graph and drawing a chart and having a technical analysis has advantages. This strategy has no real or accurate result and you can't rely on this that will happen, because the fact is, bitcoin price prediction is unpredictable and no one knows about the market.

[jrrsparkles]

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

Every traders used technical analysis. No one can trade and profit without technical analysis. Even if you can do profit for 2/1 days without analysis. you will lose a lot later

Not everyone to be honest still there are many people trade without using technical indicators but based on the ither signals which also may work sometimes. But trading without making any analysis is just a form of gambling so it may give us profits depends on our luck meanwhile when we are in bull run just holding is better than anything.

[Buntel168]

Technical Analysis is important in trading, if you don't use TA I think you will experience a loss.

[AicecreaME]

Bitcoin is always volatile in my opinion, and even with the lowest volatile cryptocurrency, losing a trade can't be avoided because of the leverage you'll put or you didn't put stop loss. Now, technical analysis plays a huge role in Trading, it increases your chances of making profits every trade you make (of course if you've done the right TA). When it comes to strategies, indicators is needed to confirm the right time to buy and sell a trade.

Traders use their own indicators in where they are comfortable to use that makes their technical analysis easy and profitable. So you'll choose your own indicators, it's about trial and error.

[ScamViruS]

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

Technical analysis is important in trading to understand market trends and future market movements. But sometimes the fundamental things are more effective for a particular time than the technical analysis for the market price movement. So in that case technical analysis may not give such effective results. I give equal importance to both technical analysis and fundamental analysis before opening a trade. Because you must give extra effort to get the expected result. And it seems to me that it will be difficult to get an idea about the next movement of Bitcoin now.

[el kaka22]

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

I like to suggest you to check 2 different technical strategies.

First one is moving average cross-over strategy:
https://www.fxempire.com/education/article/how-to-enhance-your-moving-average-crossover-strategy-271691

It has few disadvantages as well like you may not able to enter or exit at exact trend reversal level as it is a time lagging strategy hence longer time frame may help.

The second one is the pivot point analysis:
It will get you support and resistance levels and you may need to work out on when and where to buy/sell based on your observation as nothing permanent in the market.

Please check here:
https://www.investopedia.com/trading/using-pivot-points-for-predictions

Moreover, you may go trying combing these 2 strategies and may find your own way of developing stronger strategy.

One simple way you may do is, long term trading along with moving average cross over. Still, it needs lots of preparation and practices before you try on live market.