Is Technical analysis a must know in crypto trading?

[Pamadar]

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

Different types of strategy can be done once you are already familiar with how the market moves.

It's always depends from how you understand the situation and how you adjust with every market movements, same with other
trading industry, there are stiuation where you can buy when fear is dominating then sell when everyone are thinking that it
will pump for more, TA will give you hint and it's very useful if you know how to play it well.

[jrrsparkles]

Technical analysis is not that important for long term investors or traders but if the trading time frame reduces then you need to rely on the charts as well as indicators or else you are just gambling with your crypto assets. You can get technical analysis gradually and you don't have to spend any money to acquire the knowledge as well, just go through the books as well as on the internet to get the idea of technical analysis and try to implement the strategy on tools like trading view demo account or any similar tools.

[Strongkored]

Hello everyone am new here, more like a trader that got by with a bit of knowledge through personal experience (success and failure's) since 2020 but got introduced to this forum by a friend,pointing out that I can find information's and be able to communicate with other enthusiast in the crypto market. I look forward to my experience here.
P.S I have really poor knowledge on bitcoin technicalities, am more of the chart reading and gut feeling type. so I hope am not breaking any of the rules posting here.
Was really curious to understand if technical analysis is vital or just a means to reduce risk. Thanks in advance

Technical analysis for trading is important and all trading knowledge for trading is important because as a trader if it is done without adequate knowledge it will only make him lose more because it is like gambling but maybe it will be a little different in Bitcoin because traders who believe in Bitcoin fundamentals prefer to make it an investment by directly buying or doing a DCA system and only selling it after a long period of holding, and in my opinion, it doesn't require analysis only you need to make a target when to sell it that's all, but if it is daily trading then technical or other knowledge is important for understanding.

[nlovric]

Learning from a legit source and getting the require tool for trading the market independently, it's a gradual process with estimated budgets.  Ofcourse technical analysis is the one important thing we should as traders, there's no time for reluctancy. Technical and fundamental analysis are the two basic concepts a trader must know before going into trading. It's definitely a complex path concerning trading but the newbies and pro traders ought to know the basic necessities of trading, I'm already acquainted with these trading strategies.

Absolutely, it is important to start your trading career with a strong foundation and you are right that technical and fundamental research constitute the cornerstone of a trader's knowledge. A slow process that calls for commitment and ongoing learning is taking the time to learn from reliable sources and gaining the tools required for autonomous trading. As time is of the utmost in the fast paced world of trading it is imperative that you do not hesitate or put off making a decision. Understanding the fundamentals of trading is essential whether you are a novice or a seasoned trader. It is admirable that you have already been accustomed to these fundamental trading techniques as they offer a solid foundation for making wise choices. Keep in mind that trading is a difficult journey but by remaining dedicated to studying and applying these tactics you are positioning yourself for success in the thrilling world of trading.

[doomloop]

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

Different types of strategy can be done once you are already familiar with how the market moves.

It's always depends from how you understand the situation and how you adjust with every market movements, same with other
trading industry, there are stiuation where you can buy when fear is dominating then sell when everyone are thinking that it
will pump for more, TA will give you hint and it's very useful if you know how to play it well.

The cryptocurrency market moves in 3 ways. And they are; Upward, Stable, and Downward. Once we know all these movements, we can also create 3 kinds of strategies for it. Crypto trading doesn't have a big difference from other trading markets. If there is one major difference that will only be volatility in crypto which are very high.

We are free to apply some strategies we have on other trading markets. The one that you are telling there which is to buy when others are fearful are I think mainly used for investing and not really for trading. The crypto trading is unpredictable but doing a technical analysis can be a big help to us to have a better success rate.

[Hamphser]

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

Different types of strategy can be done once you are already familiar with how the market moves.

It's always depends from how you understand the situation and how you adjust with every market movements, same with other
trading industry, there are stiuation where you can buy when fear is dominating then sell when everyone are thinking that it
will pump for more, TA will give you hint and it's very useful if you know how to play it well.

The cryptocurrency market moves in 3 ways. And they are; Upward, Stable, and Downward. Once we know all these movements, we can also create 3 kinds of strategies for it. Crypto trading doesn't have a big difference from other trading markets. If there is one major difference that will only be volatility in crypto which are very high.

We are free to apply some strategies we have on other trading markets. The one that you are telling there which is to buy when others are fearful are I think mainly used for investing and not really for trading. The crypto trading is unpredictable but doing a technical analysis can be a big help to us to have a better success rate.

And the hardest to read up is on the time that it do make out some consolidation or sideways movement period on which it is really that very hard to tell on where it would be going next. This is where technical

analysis would really kick and be useful on which you could really be able to make out some charting and using up with those technical indicators on which it would really be giving off some hint on how the market
is behaving and showing off some potential next movement but of course this isnt something that you could really be able to precisely predict on where it would be going.
This is why it would really be that important that you should really be at least aware of the risks but since you would really be making out some strategies then this is
what matter the most and not just making any step without any considerations or analysis which its a pure gamble.

[Pamadar]

in doing short-term trading, I think we are more inclined to use technical analysis than fundamental analysis, because we analyze the market every day. so it is not possible to use related fundamental analysis for long term. therefore every trader must be able to analyze chartists to find support and resistance to place transactions. and we certainly have to follow market movements more often. or we can place targets and stop losses and we can leave them.

Different types of strategy can be done once you are already familiar with how the market moves.

It's always depends from how you understand the situation and how you adjust with every market movements, same with other
trading industry, there are stiuation where you can buy when fear is dominating then sell when everyone are thinking that it
will pump for more, TA will give you hint and it's very useful if you know how to play it well.

The cryptocurrency market moves in 3 ways. And they are; Upward, Stable, and Downward. Once we know all these movements, we can also create 3 kinds of strategies for it. Crypto trading doesn't have a big difference from other trading markets. If there is one major difference that will only be volatility in crypto which are very high.

We are free to apply some strategies we have on other trading markets. The one that you are telling there which is to buy when others are fearful are I think mainly used for investing and not really for trading. The crypto trading is unpredictable but doing a technical analysis can be a big help to us to have a better success rate.

And the hardest to read up is on the time that it do make out some consolidation or sideways movement period on which it is really that very hard to tell on where it would be going next. This is where technical

analysis would really kick and be useful on which you could really be able to make out some charting and using up with those technical indicators on which it would really be giving off some hint on how the market
is behaving and showing off some potential next movement but of course this isnt something that you could really be able to precisely predict on where it would be going.
This is why it would really be that important that you should really be at least aware of the risks but since you would really be making out some strategies then this is
what matter the most and not just making any step without any considerations or analysis which its a pure gamble.

Indeed, any decision without proper knowledge about it will fall into a gambling type of investment.

More on how you deal with your study and research, the more you focus on learning different factors that may affect the market
the better you can analyze the situation.

With that, you may establish a good pattern where you can make more winning trades compared with those losing position,
TA is important, it lessens the fear in you when the situation is not moving the way you assess. It can extend your patience knowing
that chance to push back will take place.

[Hamphser]

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Indeed, any decision without proper knowledge about it will fall into a gambling type of investment.

More on how you deal with your study and research, the more you focus on learning different factors that may affect the market
the better you can analyze the situation.

With that, you may establish a good pattern where you can make more winning trades compared with those losing position,
TA is important, it lessens the fear in you when the situation is not moving the way you assess. It can extend your patience knowing
that chance to push back will take place.

TA would indeed lessen out that risks which is something that really recommendable or something that needs to do so because trading isnt something that you would really be needing that gambler type approach

which i have said earlier. On the time that you do step your foot into this unpredictable market then you should at least making yourself that get prepared on which it is really just that right that you should need
to learn up technical analysis and next would be some application of fundamentals which this two would really be the best tandem on handling or surviving this market.

Although it wont really be giving out that guarantees or sureness on making yourself that profitable but you do have that better chance or possibility that you would be making profits
compared into those people who do have that kind of different approach on things.

[Hamza2424]

Hmm, When you are saying trading dear then in my view the solo full-time trading term can be considered as a full-time digital skill and it requires technical analysis (Compulsory). Things can move in a different direction if you change the term crypto trading to investment because in the investment the fundamental and basic analysis is more than enough to produce efficient results.

Trading is a good domain and the subdomains scope in trading is highly powerful, as Buy & Hold is under the trading domain and it can be considered as the most widely used strategy used by most users to secure decent profits in this market.

[nlovric]

Learning from a legit source and getting the require tool for trading the market independently, it's a gradual process with estimated budgets.  Ofcourse technical analysis is the one important thing we should as traders, there's no time for reluctancy. Technical and fundamental analysis are the two basic concepts a trader must know before going into trading. It's definitely a complex path concerning trading but the newbies and pro traders ought to know the basic necessities of trading, I'm already acquainted with these trading strategies.

Right learning from reputable sources and getting the required equipment for independent trading is a gradual process that necessitates both time and financial planning. Trading professionals must grasp the critical Role technical analysis plays in their path. When it come to accepting this feature there is no place for hesitancy or resistance. A Trader should also be familiar with fundamental analysis which serves as the cornerstone of a thorough trading strategy. Without a doubt mastering the complexity of trading can be a difficult route but it is crucial for both novice and seasoned traders to understand the fundamentals. I am glad to hear that you are already aware with these trading techniques because they set you up for success in the fast paced world of trading.

[blockman]

Although it wont really be giving out that guarantees or sureness on making yourself that profitable

And still, it's a way for most traders to know what they should decide on and that's a basis of their decision whether to buy, to sell or hold.

but you do have that better chance or possibility that you would be making profits
compared into those people who do have that kind of different approach on things.

Strategies are different and there could be simple strategies in our eyes but that's even more profitable being done by other traders. And there's a different approach that we've seen weirdly or for the firs time but then, it's way more profitable than the usual strategies that we've known. That is why for some traders, if they have found a strategy that's working for them perfectly. All they need to do is to keep on using that strategy so that they'll be able to get used to it and change only if things are no longer effective for them.

[Ziskinberg]

Technical analysis is not that important for long term investors or traders but if the trading time frame reduces then you need to rely on the charts as well as indicators or else you are just gambling with your crypto assets. You can get technical analysis gradually and you don't have to spend any money to acquire the knowledge as well, just go through the books as well as on the internet to get the idea of technical analysis and try to implement the strategy on tools like trading view demo account or any similar tools.

TA exists because of its key role in trading but is less used when you are just investing. If we are trading, we must know how to analyze the market situation as this was the basis of our response and decision. It has to note that without TA we are likely just lose due to wrong buy and sell calls. Many people underestimate this tool and do not wonder why they fail. Perhaps, it was been created to have a purpose in trading which is why we should have to consider this as one of the stuff we need to acquire if we wanted to grow and succeed.

[Bitcoin_people]

Crypto trading definitely requires some technology analysis. Especially when a new trader invests money in his business he needs to master this completely. Basically a new investor in trading needs to know about cryptocurrencies especially he needs to know and take ideas. Just as a person needs to have specialized knowledge and skills in order to make a profit in trading, so does experience in trading. But it is very important to be aware of the volatility in the Bitcoin market to adopt different strategies in trading. And never risk trading with Bitcoin with the confidence of never having to face a trading loss. and by considering various aspects of trading, you will surely get complete success.

[BD Crypto]

Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

[Jwest]

Technical analysis is the major of all, without knowing technical analysis get, I call it a blind trader.

[Pamadar]

Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

Your trading is like gambling. Without proper knowledge, you are just relying on luck,

Most of the time, those are the people who got influence by people who are already inside this industry, thinking that they
can easily duplicate the success of those people, they are just placing their investment according to how they were are being
told, without any idea of what you are doing, for sure you are mostly losing your money. Always have the time to study. TA is
one good factor that you can use when entering this kind of industry.

[Fatunad]

Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

Your trading is like gambling. Without proper knowledge, you are just relying on luck,

Most of the time, those are the people who got influence by people who are already inside this industry, thinking that they
can easily duplicate the success of those people, they are just placing their investment according to how they were are being
told, without any idea of what you are doing, for sure you are mostly losing your money. Always have the time to study. TA is
one good factor that you can use when entering this kind of industry.

Trading isnt something that you should really be having that kind of gambler like approach because you would definitely be losing money instead on making profits because you arent putting yourself that proper approach on how to deal with the market. Of course you cant really be just making up some positions without having any analysis or strategy. TA is really a must know kind of thing on crypto space specially when you do make trades. You cant really just put up a position blindly because thats pure gambling and its not something that it is really that recommended on doing so. You would be finding for yourself on what are the things  that mainly needed for you to be able to withstand and survive this very unpredictable and random market.

[taufik123]

-snip-
TA is really a must know kind of thing on crypto space specially when you do make trades. You cant really just put up a position blindly because thats pure gambling and its not something that it is really that recommended on doing so. You would be finding for yourself on what are the things  that mainly needed for you to be able to withstand and survive this very unpredictable and random market.

and what happens nowadays is that even beginners trade by placing positions blindly without doing any analysis.

This usually applies to futures trading and those beginners trade futures like gambling, just short or long using high leverage.
Using too high leverage will result in a lot of losses if it is not done properly.

TA really has to be mastered, at least to understand how basic technical analysis is.
don't just trade without having any knowledge. it's the same as walking without direction and eventually going into the abyss.

[ItsCrafty]

Suppose you are going to start crypto trading and you don't know about technical analysis then how you will manage your trading? Where you will set entry and exit point and the most important thing is that which coin you will choose to trade. Suppose you choosed a scam coin to trade and they failed to pump and you will be in lose automatically. There are a lot of cryptos in the market and all are not potential or a strong project. Also if you buy a good coin but don't have risk management then you will surely can't survive in this volatile market.
So before starting Crypto Trading technical analysis is a must to know. You can learn about it by reading articles from Google or from YouTube.

Yes, you are right in the matter discussed above. When engaging in crypto trading, there are several factors you must be aware of to make informed decisions. First, understanding the fundamental factors that can impact the value of cryptocurrencies, such as technological developments, regulatory changes, and market sentiment, monitoring all of the technical indicators and chart patterns can provide insights into price movements and potential trends. Also, keeping an eye on trading volume and liquidity is important to ensure smooth execution of trades and decisions. It is good to stay updated with news and announcements from the crypto forums, as it can greatly influence market behavior. Lastly, considering risk management techniques and maintaining a disciplined approach are vital for successful crypto trading.

[Pamadar]

-snip-
TA is really a must know kind of thing on crypto space specially when you do make trades. You cant really just put up a position blindly because thats pure gambling and its not something that it is really that recommended on doing so. You would be finding for yourself on what are the things  that mainly needed for you to be able to withstand and survive this very unpredictable and random market.

and what happens nowadays is that even beginners trade by placing positions blindly without doing any analysis.

This usually applies to futures trading and those beginners trade futures like gambling, just short or long using high leverage.
Using too high leverage will result in a lot of losses if it is not done properly.

TA really has to be mastered, at least to understand how basic technical analysis is.
don't just trade without having any knowledge. it's the same as walking without direction and eventually going into the abyss.

I do agree with both of you, TA is something that traders should learn first before stepping into trading.

A tool that will give you the opportunity to win on your trade, aside from that, with TA or with a better understanding of TA
your chances of losing a lot will be lessening as you will be able to learn how to stop-loss.

With that knowledge, the chance of making good trades will be high while making bad call due to unexpected circumstances
will be lessened.