What are the steps in understanding technical analysis?

[Hamza2424]

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

First of all, as many of the users suggested you choose a view to analyze the market trends, there are different trade view platforms as the popular ones, trading view, CMC, and even exchanges do offer basic market analyzing tools on their Dashboard. Once you are done with the platform now you need to learn about the tools and indicators for proper analysis and trend prediction. If you already know the basics you can start demo trading by analyzing the market on the view platform.

Practice learning skills, which will help ou to gain massive experience in a small interval of time. Trading is easy but trade management is rough.

[nur rochid]

if we want to learn technical analysis, I think there are many references that can be studied. at first we have to understand support and resistance, because in that area we can usually use it to make money. but what is difficult is to set targets and stop losses that are mixed with emotion. and afterwards by doing practice we will automatically have experience, and that can be used to find our identity in trading according to our own style.

[adaseb]

Just understand that if it was that easy by Simply buying when price hits some moving average or selling When price hits some RSI then everybody would be very very rich.

Technical analysis is not perfect. You need other methods for taking a trade such as fundamentals or order flow. With crypto it’s more transparent than something such as stocks which have tons and tons of insider trading and manipulation.

[BD Crypto]

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

First you should read various articles from other crypto experts and you can watch some YouTube videos which is related to technical analysis. I saw several videos with good quality.

Then you need to visit TradingView website and try to learn about indicators , pattern, flags and support and resistance level and practice what you have learnt from articls and videos. Here you will also find many good analysis which are posted by the expert with proper details.
After that you should exercise yourself about what you have learnt. Try to draw patterns, support and resistance zone and and learn about volume chart. Then apply your lessons in Demo Trading. You can do demo trading in Bybit, swyftx and also in other platforms.The more you trade the more you will be experienced.

[GreatArkansas]

(...)
Technical analysis is not perfect. You need other methods for taking a trade such as fundamentals or order flow. With crypto it’s more transparent than something such as stocks which have tons and tons of insider trading and manipulation.

For me, there could be also some "luck" here, which for me comes with a very small percentage, it's like that's why we have to stop losses just to be safe because we don't know what will happen, so some "luck" got some room with small percentage when you are trading.

About understanding technical analysis, I can say that it can be a useful way for traders, it's effective for most traders. You can start or continue learning technical analysis and use it to make your trading decisions every time.

[jeraldskie11]

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

If you already know the basic information how to use an exchange site. You can now proceed to the chart of Bitcoin/Usdt pair, and for better view I recommend Tradingview

1. Identify Market structure and make sure you're using macro time frame to see the bigger picture. If the trend is creating HH and HL meaning it's uptrend but if LL and LH meaning it's downtrend.

2. If you see a break of structure to the weak high, you have to wait for pullback to the demand zone. Demand zone is where you can find your entry, the target is the weak high and the stop loss is below the HL.

3. You can add indicators as your confluence to increase the probability of winning a trade such RSI, Volume, EMA and many more.

If you are not a fast learner person, I would recommend to join a mentorship program than to watch on YouTube because it's just makes things more complicated.

[justdimin]

if we want to learn technical analysis, I think there are many references that can be studied. at first we have to understand support and resistance, because in that area we can usually use it to make money. but what is difficult is to set targets and stop losses that are mixed with emotion. and afterwards by doing practice we will automatically have experience, and that can be used to find our identity in trading according to our own style.

The OP wants to learn the "steps" which means we should start at the beginning but I think support and resistance are among the intermediate lessons already. We should not rush when it comes to learning how to trade because trading is not like investing which is only simple.

Support and resistance are important in trading together with the others. They are essential to help us earn a profit in trading. Anyone can set a target. It's only easy to do but it's hard to stick to it especially if our target is kinda unrealistic so it would be better to lower it first and accomplish them before we move on to the next level. Emotion is one of our enemies in trading so we must learn to control it or avoid it as much as possible.

[benalexis12]

Technical analysis in crypto trading is not easy to understand right away. But if you really want to learn this, you must have an account in trading view so that at least you know what basics you should know in this matter.
Before you understand this, you must know how to read a chart on a graph such as a candlestick, trendline, indicators and other tools like this so that you can have an idea of where the Bitcoin price direction is going, not accurate but at least know you somehow

[Faisal2202]

Practice learning skills, which will help ou to gain massive experience in a small interval of time. Trading is easy but trade management is rough.

What do you mean by trading is easy but trade management is rough, As AFAIK, both have no big differences so how they could have easiness levels differences? Maybe you are writing in some other context but my POV is, Trading means performing trades and Trading management is, managing trades, and we all know what managing trades means, it means, when to trade, in which coin to trade, with how much money we should trade and with how much risk etc. etc.

And all of these activities also came under the roof of trading, well leaving it here. I move on to OP's query.

My suggestion is, to learn graphs (candle's movements and learn the patterns), after learning patterns, try them on any demo account or you could use the back trading method to observe the accuracy of your pattern analysis. It might look difficult but once you learned maybe two or more, then you will be able to learn more. Because somehow, they are interconnected, yeah! One more thing you might find two different names of the same candle pattern, so do not confuse with it.

[Franctoshi]

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

You have done the right thing by first asking about steps to take in starting your crypto trading journey.
To become a successful Technical Analyst, you should learn the basics of technical analysis starting with an understanding of the candle stick and being able to read or identify chart patterns, the market structure, support, and resistance. Should also learn how to use trading stops for tp's and stop loss, and technical indicators such as the RSI, Moving average, and Fibonacci, etc to your advantage

[Woodie]

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis

-First things first, know how to read candles ,charts,
Trading terminology  (Probably  the baby steps of trading and you can make use of a paid course or free resources such as youtube and the alike )
- secondly familiarize yourself with platform you be trading on, be it tradingview , metatrader,ctrader etc and then get to choose your tools based on strategy..like the Fibonacci,  moving averages, trendlines  etc
- Once all this is in place and you have you craft, practice practice practice!

and also know how to enter a trader.

People have several techniques on how to enter a trade, this can be done via Multitime  anaysis,  you can also use the Fibonacci for optimal trade entries,  others scalpe with no stop loss which is high risk but saves you from those stop outs.

Good luck

[Fatunad]

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

You have done the right thing by first asking about steps to take in starting your crypto trading journey.
To become a successful Technical Analyst, you should learn the basics of technical analysis starting with an understanding of the candle stick and being able to read or identify chart patterns, the market structure, support, and resistance. Should also learn how to use trading stops for tp's and stop loss, and technical indicators such as the RSI, Moving average, and Fibonacci, etc to your advantage

It would really be that a broad topic and a wide range or type of indicators which you would be needing to familiarize or knowing with which it wouldnt really be taking a short time. This is why patience and dedication on
learning up these things is needed. It might really be that looking interesting at first but on the time that you would really be finding for it to be many then you would really be starting on getting bored with it and would
be having those impressions that you dont need to learn up everything.Well its true that TA's arent that precise but doesnt mean that you should stop on learning because sooner or later you would really be able to make use of these indicators or tools because not all the time on which the market would really be just that depending on the fundamentals. There are really that moments which TA is really that something sensible to be used
which it would really be that wise for you to be versatile on these kind of times which making out some adjustment would be always recommendable.

[AmoreJaz]

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

You have done the right thing by first asking about steps to take in starting your crypto trading journey.
To become a successful Technical Analyst, you should learn the basics of technical analysis starting with an understanding of the candle stick and being able to read or identify chart patterns, the market structure, support, and resistance. Should also learn how to use trading stops for tp's and stop loss, and technical indicators such as the RSI, Moving average, and Fibonacci, etc to your advantage

also, he can always do a quick search over the internet because there are tons of info that he can read already. no need to buy hard copy of books regarding trading. he can always read and see it for himself. some are asking the easy route because they are in a hurry to earn profits. so learning slowly and knowing the basics will be your initial step in understanding the market, not only in crypto but other markets as well.
it is not tedious to learn these days, we are in the digital age where you can search mostly the things you want to know about any topic you want to explore with.

[sheenshane]

Technical analysis in crypto trading is not easy to understand right away. But if you really want to learn this, you must have an account in trading view so that at least you know what basics you should know in this matter.
Before you understand this, you must know how to read a chart on a graph such as a candlestick, trendline, indicators and other tools like this so that you can have an idea of where the Bitcoin price direction is going, not accurate but at least know you somehow

Understanding technical analysis in crypto trading can indeed be challenging initially, but with the right research and resources, you can grasp its concepts effectively.  The common step is to create an account on a platform like TradingView, which offers a range of tools and features to analyze price charts, and by familiarizing yourself with the basics through such a platform, you can gain trading knowledge on this.  Because learning these candlestick patterns, trendlines, and indicators may take time and there's no shortcut to it.

Next, followed by demo account trading and also it could be a copy trading that will help you to improve your trading skills by gaining experience and knowledge.  So good luck.

[wxa7115]

As a newbie in the crypto space, I want to know the steps to take to be able to understand technical analysis and also know how to enter a trader.

You have done the right thing by first asking about steps to take in starting your crypto trading journey.
To become a successful Technical Analyst, you should learn the basics of technical analysis starting with an understanding of the candle stick and being able to read or identify chart patterns, the market structure, support, and resistance. Should also learn how to use trading stops for tp's and stop loss, and technical indicators such as the RSI, Moving average, and Fibonacci, etc to your advantage

also, he can always do a quick search over the internet because there are tons of info that he can read already. no need to buy hard copy of books regarding trading. he can always read and see it for himself. some are asking the easy route because they are in a hurry to earn profits. so learning slowly and knowing the basics will be your initial step in understanding the market, not only in crypto but other markets as well.
it is not tedious to learn these days, we are in the digital age where you can search mostly the things you want to know about any topic you want to explore with.

And funnily enough having so much knowledge at our disposal is now being counterproductive, after all what is the point of having such a huge amount of knowledge accessible to us when people do not want to take the time to actually go through it and learn it?

People of today want everything to be summarized in just a few paragraphs, and something as complex as trading cannot be simplified to that degree regardless of the level of skill a trader may have.

[tjtonmoy]

TA is a great way to understand the market. If you really want to learn it, start by trading something that is well-known and reputable. That way you can get a large amount of information about those on the internet. With that, your research will be more accurate. You will have to give a lot of time to it. Because the more you learn and apply that to your work, the more you will gain experience in that process. It takes time, practice, and patience. Try to find tutorials available on all platforms Compare them and which one matches multiple times and is common amongst all of them, choose that one.
You can also take the first step by doing day trading. The more time you give to it, the better you become. So doing it daily will increase that chance. Hone your skills to the finest. If you are not confident enough, then try demo accounts to trade. Get the basic ideas. I think this is the best approach.

[Silberman]

TA is a great way to understand the market. If you really want to learn it, start by trading something that is well-known and reputable. That way you can get a large amount of information about those on the internet. With that, your research will be more accurate. You will have to give a lot of time to it. Because the more you learn and apply that to your work, the more you will gain experience in that process. It takes time, practice, and patience. Try to find tutorials available on all platforms Compare them and which one matches multiple times and is common amongst all of them, choose that one.
You can also take the first step by doing day trading. The more time you give to it, the better you become. So doing it daily will increase that chance. Hone your skills to the finest. If you are not confident enough, then try demo accounts to trade. Get the basic ideas. I think this is the best approach.

Backtesting is key, very often we see people following the strategy of someone else blindly and they do not even know if the strategy is any good or not, and the only way to know this is by verifying this by ourselves, now I know that if someone does not have specialized software to do this then they will need to do this by hand, and this is a very long and boring process, but it has to be done, as in this way you will realize that a great deal of the strategies being shared on the internet are no good and you will save yourself from losing your money.

[tjtonmoy]

~Snip

I have always said this and I have experienced it too. The things that you learn by yourself, you will never forget that. Simply just copying someone else's work will only give you temporary success. The results will be amazing if that thing works, but later on, we just forget how to do it again. I agree with you. It takes a lot of time to get a grasp of something, but it is the only way we can gain success in the long run. People are always trying to get success through shortcuts, For this, they learn temporary things. But they never understand that the talent you possess will stick with you no matter what and no one else can take it away from you. 
This is what makes each of us unique. Learning something from the ground up and mastering it will always give us an advantage and keep us apart from common people. Create your own path and own brand. So that others will follow your path. This is the key lesson in our life. It's no different in learning technical analysis too. So the best advice is, no matter how hard it is, stick to it and see through to the end. Success will come after you.

[Fatunad]

TA is a great way to understand the market. If you really want to learn it, start by trading something that is well-known and reputable. That way you can get a large amount of information about those on the internet. With that, your research will be more accurate. You will have to give a lot of time to it. Because the more you learn and apply that to your work, the more you will gain experience in that process. It takes time, practice, and patience. Try to find tutorials available on all platforms Compare them and which one matches multiple times and is common amongst all of them, choose that one.
You can also take the first step by doing day trading. The more time you give to it, the better you become. So doing it daily will increase that chance. Hone your skills to the finest. If you are not confident enough, then try demo accounts to trade. Get the basic ideas. I think this is the best approach.

Backtesting is key, very often we see people following the strategy of someone else blindly and they do not even know if the strategy is any good or not, and the only way to know this is by verifying this by ourselves, now I know that if someone does not have specialized software to do this then they will need to do this by hand, and this is a very long and boring process, but it has to be done, as in this way you will realize that a great deal of the strategies being shared on the internet are no good and you will save yourself from losing your money.

Backtesting is indeed the key on which you could really be able to apply with into demo account if you are really that tending to learnt up on those technical indicators without really liking on losing or making use of live funds on which you are really that trying to learnt up on how those indicators would or should be working.It isnt really that bad for you to have that kind of step first if you are really that planning to learn TA.
Its true that learning TA would really be that relevant towards this market. You cant really be able to find yourself that feasible or able to sustain this unpredictable market if you cant be able to handle yourself that well
because you would really be just eventually be making gambling if you do make out positions without having those analysis and basis on why you have done such thing. TA might not be precise but it
doesnt mean that you shouldnt really be learning it up. You would be finding its relevance on the time that you do touch up with this market.

[Kelvinid]

People of today want everything to be summarized in just a few paragraphs, and something as complex as trading cannot be simplified to that degree regardless of the level of skill a trader may have.

They wanted instant and so they will find a way to make their life too easy. That is why many traders become successful because of that thinking and they keep struggling hard as they don't want to spend more time learning and searching. It was too impossible to succeed if we fail to acquire all the things needed in trading - knowledge, skills, and TA. We must have to carry all of these things as it was necessary. Aiming for success was jus a dream if we don't work hard and push our limits.