cheers!
Topic: best indicators to use to predict bitcoin price direction? (Read 171 times)
maybe i am looking for a guru and if there is one, that person probably might or might not post here. looking for the best indicator where one's concept of "best" is relative. what i think is best might not be so for you. asking for one's opinion of the best indicator does not necessarily mean that i don't know what i'm doing or asking. i'd rather ask than pretend to know everything and be a fool. anyway, if you use charts and are able to read one, here's an example and tell me what you think. but if you don't read charts, it won't hurt to learn to cheers!
cheers! 
Bitcoin is too volatile.
Look at the 1w chart EMA crossovers. that in general is the direction. However this is slow trading.
Look at the 1w chart EMA crossovers. that in general is the direction. However this is slow trading.
there are no indicators that can predict the movement because Bitcoin is moving without a pattern.
the best way to describe it is manipulation,
but sometimes you can see a similiar movement with its past.
in other words,the best way to follow it is by seeing its history and what is going on with it that time.
nothing more than that i believe
the best way to describe it is manipulation,
but sometimes you can see a similiar movement with its past.
in other words,the best way to follow it is by seeing its history and what is going on with it that time.
nothing more than that i believe
tried to read charts using some of the indicators i used to trade forex. with some, like the basic stochastic oscillator and william's range i'm able to tell which direction price will go but some don't really work. i go to tradeblock and use some of the indicators there to tell price of some of the major cryptos. which indicators do you use which you think is best to predict price movement?
There is no true price indicator for bitcoin because it's not really backed by anything. People try to put their analysis up based off log charts, but even then, you're not going to be able to ever constantly call what the bitcoin price will be. The best indicators a crypto trader has is the news. Not analysis news, but technological advancement, investor news, just anything that discusses if people will be putting their money into the coin. If you find this, you'll see that the price rises. An example is the Peter Thiel news which I believe boosted the price.
Good luck with trading on news when the market turns. News seems to have very little real impact on the general trend which is where the real money is made. What news predicated the turn from bear to bull in 2015, can you point to any concrete event? Many people who sold at $300 would love to know I'm sure LOL.
I'm not sure you have any understanding of what indicators are if you think being 'backed' or not has anything to do with their efficacy, or think that any reasonable trader expects to 'constantly call what the bitcoin price will be'.
I actually don't think you understand what I mean when I say news. Take for example, the China FUD drop where Bitcoin fell by multiple thousand dollars. What sparked it? Well, it was the China banning exchanges. Simply put, more people started publishing the article about it, and so the news became widespread. As time went on, more news came out in pessimistic response to Bitcoin. In return, the coin kept dropping and dropping because people who put their money into BTC without knowing how it worked were nervous. What I'm saying is that when bad news comes out and that news snowballs, it can cause a pretty negative effect on bitcoin. So, when you see negative/positive news, you'll have a price indicator.
Well, at this moment I'd like to say that Bitcoin indicators are pretty decent:
*No really horrible news that I've heard of - just the old FUD.
*Volume has been steadily rising thus far - it is actually at an ATH pretty much, and corresponding with a price breakout, we can now start to see some major movement upwards.
*Bitcoin spent a well-deserved amount of time consolidating, so --intuitively-- it "feels" like it is Bitcoin's turn to go up now.
These indicators show that BTC's future is looking pretty good for the next week or so.
Does anyone disagree with that? I mean, I think right now it is pretty obvious, and on everyone's mind that alts are going to take a break while BTC and LTC will starting jumping. (LTC already jumped a bit too, since it is linked to BTC prices, not surprisingly).
I don't know what you mean by a "best" indicator though. You have to take a lot of stuff into account.
All the technical analysis factors in your favor mean zero if all the world government decided on the same day to make trading BTC a felony..
*No really horrible news that I've heard of - just the old FUD.
*Volume has been steadily rising thus far - it is actually at an ATH pretty much, and corresponding with a price breakout, we can now start to see some major movement upwards.
*Bitcoin spent a well-deserved amount of time consolidating, so --intuitively-- it "feels" like it is Bitcoin's turn to go up now.
These indicators show that BTC's future is looking pretty good for the next week or so.
Does anyone disagree with that? I mean, I think right now it is pretty obvious, and on everyone's mind that alts are going to take a break while BTC and LTC will starting jumping. (LTC already jumped a bit too, since it is linked to BTC prices, not surprisingly).
I don't know what you mean by a "best" indicator though. You have to take a lot of stuff into account.
All the technical analysis factors in your favor mean zero if all the world government decided on the same day to make trading BTC a felony..
legendary
Activity: 1862
Merit: 1011
Reverse engineer from time to time
I believe that when people use the keyword best, then they have no idea what they are doing.
The fact that you believe there is a best indicator means that you have no idea what you are doing, more so that you are asking the community, obviously looking for a guru like figure to follow, even if you yourself aren't aware of that.
The fact that you believe there is a best indicator means that you have no idea what you are doing, more so that you are asking the community, obviously looking for a guru like figure to follow, even if you yourself aren't aware of that.
Which indicators do you use which you think is best to predict price movement?
Past performance is the greatest indicator or predictor of future results!
Kidding, kidding...it's quite the opposite.
There is no "best" indicator used to predict bitcoin price direction. Do you know why? Because bitcoin price direction cannot be predicted.
You're better off thinking about the utility that Bitcoin can offer the world, particularly for those people who are not already invested in cryptocurrency. If you believe this utility is strong? Buy Bitcoin, hold Bitcoin.
Cryptocurrency prices will rise and fall in a way that is directly correlated to demand. Therefore you must decide if you believe demand will increase or decrease in the future. This is hard to do, particularly over short time frames.
tried to read charts using some of the indicators i used to trade forex. with some, like the basic stochastic oscillator and william's range i'm able to tell which direction price will go but some don't really work. i go to tradeblock and use some of the indicators there to tell price of some of the major cryptos. which indicators do you use which you think is best to predict price movement?
If it were to exist we would not bother to see the price everyday to secure our funds Or profit in a matter of seconds if we know the precise price of it each movement. We would be rich in only a matter of a penny. There is no such thing as your talking. tried to read charts using some of the indicators i used to trade forex. with some, like the basic stochastic oscillator and william's range i'm able to tell which direction price will go but some don't really work. i go to tradeblock and use some of the indicators there to tell price of some of the major cryptos. which indicators do you use which you think is best to predict price movement?
There is no true price indicator for bitcoin because it's not really backed by anything. People try to put their analysis up based off log charts, but even then, you're not going to be able to ever constantly call what the bitcoin price will be. The best indicators a crypto trader has is the news. Not analysis news, but technological advancement, investor news, just anything that discusses if people will be putting their money into the coin. If you find this, you'll see that the price rises. An example is the Peter Thiel news which I believe boosted the price.
Good luck with trading on news when the market turns. News seems to have very little real impact on the general trend which is where the real money is made. What news predicated the turn from bear to bull in 2015, can you point to any concrete event? Many people who sold at $300 would love to know I'm sure LOL.
I'm not sure you have any understanding of what indicators are if you think being 'backed' or not has anything to do with their efficacy, or think that any reasonable trader expects to 'constantly call what the bitcoin price will be'.
There is no true price indicator for bitcoin because it's not really backed by anything. People try to put their analysis up based off log charts, but even then, you're not going to be able to ever constantly call what the bitcoin price will be. The best indicators a crypto trader has is the news. Not analysis news, but technological advancement, investor news, just anything that discusses if people will be putting their money into the coin. If you find this, you'll see that the price rises. An example is the Peter Thiel news which I believe boosted the price.
Though there are times when people can speculate where the price will go in the short or long term base on the movements of prices in the charts by using technical indicators, news is still the best way for now to tell if the coin would go up or down in the near future. There are so many kind of news in a coin that you should give attention to. A listing or delisting in an exchange would have an impact on a coin, a hardfork, website or wallet release or any improvements that are news worthy can have a big impact in a coin and if a whale join the ride then that's the time price shoot up. A useful site that I use to monitor the coins that have updates is this http://coinmarketcal.com/ .
yes, i understand. thank you for sharing your thoughts.
basically that's what i do - read the news. news does have so much influence on market behaviour and so directs/affects price. but i still feel like the chart is a reflection of decisions and activities in the bitcoin ecosystem and that there's something there that'll tell us what's bound to happen to the price.
there's news that we don't know about right away and those that receive it first react through their trading behavior, right? and as news reach more and more people, influencing their decisions, then i feel like trading behaviour is reflected in the charts right away so there are indicators to use to kind of read market behaviour and so predict which direction price is about to take - even when news is just about to hit the press.
thanks again for your opinions. hope to get more replies. will appreciate them all.
basically that's what i do - read the news. news does have so much influence on market behaviour and so directs/affects price. but i still feel like the chart is a reflection of decisions and activities in the bitcoin ecosystem and that there's something there that'll tell us what's bound to happen to the price.
there's news that we don't know about right away and those that receive it first react through their trading behavior, right? and as news reach more and more people, influencing their decisions, then i feel like trading behaviour is reflected in the charts right away so there are indicators to use to kind of read market behaviour and so predict which direction price is about to take - even when news is just about to hit the press.
thanks again for your opinions. hope to get more replies. will appreciate them all.
tried to read charts using some of the indicators i used to trade forex. with some, like the basic stochastic oscillator and william's range i'm able to tell which direction price will go but some don't really work. i go to tradeblock and use some of the indicators there to tell price of some of the major cryptos. which indicators do you use which you think is best to predict price movement?
There is no true price indicator for bitcoin because it's not really backed by anything. People try to put their analysis up based off log charts, but even then, you're not going to be able to ever constantly call what the bitcoin price will be. The best indicators a crypto trader has is the news. Not analysis news, but technological advancement, investor news, just anything that discusses if people will be putting their money into the coin. If you find this, you'll see that the price rises. An example is the Peter Thiel news which I believe boosted the price.
tried to read charts using some of the indicators i used to trade forex. with some, like the basic stochastic oscillator and william's range i'm able to tell which direction price will go but some don't really work. i go to tradeblock and use some of the indicators there to tell price of some of the major cryptos. which indicators do you use which you think is best to predict price movement?
There is no true price indicator for bitcoin because it's not really backed by anything. People try to put their analysis up based off log charts, but even then, you're not going to be able to ever constantly call what the bitcoin price will be. The best indicators a crypto trader has is the news. Not analysis news, but technological advancement, investor news, just anything that discusses if people will be putting their money into the coin. If you find this, you'll see that the price rises. An example is the Peter Thiel news which I believe boosted the price.
tried to read charts using some of the indicators i used to trade forex. with some, like the basic stochastic oscillator and william's range i'm able to tell which direction price will go but some don't really work. i go to tradeblock and use some of the indicators there to tell price of some of the major cryptos. which indicators do you use which you think is best to predict price movement?
Jump to: