Topic: Chart analysis (Read 1625 times)

you're the boss of the stock market high frequency compare to crypto so it's better to crypto trading than the stock market and the potential of your income increases if your internet is well connected and you're in the knowledge.

The chart analysis is only a basis of how to trade basically in the world of digital currency,in other words it is the basic fundamental analysis on how to trade properly and orderly,and its is useful to us,especially those beginner of trading investment.when the time will past person become knowledgeable about trading so,we must upgrade our way of trading to become a crypto exchange that more on our own emotional or decision making to gain a better profits of our investment.

 Chart analysis is no doubt very much important thing for someone who is involved in the world of trading. It can significantly affect the earnings of the traders as most of their decisions will be based on hoe accurately they have interpreted the charts. But the fact is you never know what will happen in future, so chart analysis is not a t all sufficient for someone to become a successful trader.

The chart of investment can help you a little. Your remaining experience and experience can benefit you. Just like an alphabet, the first letter is a chart.

Chart analysis is pure technical analysis way of making money. There is nothing big differences between stock exchange and crypto exchanges, and this is the reason that you can use the same analysis techniques and system ideas for cryptotrading also. You can also modify it to some extent if you wish because stock exchanges are open to a certain time limit whereas crypto are 24 hours market. While trading the crypto make sure that you apply the techniques in high volume and high volatile coins like Bitcoin, Ethereum, and litecoin only. This is because other coins are not suited for those chart analysis techniques.

Thank You for link and Your suggestions, they were very helpfull for me.

I have seen the bitcoin working at the different stages and the features of the bitcoin are very different from the other currencies bitcoin is different and then I hold the other currencies instead of the bitcoin at this time the price of the bitcoin is high and the value for the bitcoin is getting more high so like to have the bitcoin and the analysis according to me is the other thing like I know it will grow very fast now.

I am not sure about crypto trading being influenced more by emotions as opposed to other types of trading. The basics of trading are the same everywhere. Sometimes decisions have to be made quickly other times not so fast, they are alll the same and the respective analysis charts should work - assuming accurate - each way.

The cumulative volume is shown live, it's basically as every tick from time and sales comes in it's added to that number. So that's what you watch rather than time and sales and it's right there in the middle of the price ladder which is far easier to see what is going on than the old fashioned order book display the exchanges use. The price resolution is always a difficult issue on Crypto as it going to be different for different coins. I trade at Bitfinex mainly and they have a good solution where you can zoom in or out to find the level that works best.

Another product worth looking at because they have a lot of videos show it in action and explaining what is shown is Jigsaw Trading. https://www.jigsawtrading.com/learn-to-trade-futures/
They have a heatmap thingy as well but their reputation is built on one the best DoMs there is.

On what time frame does this volume cumulation occur? Also what price resolution do you consider appropriate for crypto markets? Since the volatility is so high, the center trade volume might change quite often.

EDIT I mean volume cumulation of VAP rows, not the middle one.

I can imagine that trading interfaces would propose some issues. Even as a display only feature it would be interesting. Crypto exchanges suck at displaying the data.

This is my E-mini S&P I'm trading right now:



The VAP column is displaying the the volume traded at each price. The red 5 in the middle indicates that the last trade had a volume of 5 and the colour indicates it traded on a downtick (green for up and white for the same). It's important that number is cumulative until the trade price changes not just the last trade size as cheaper products do. That way you can see how many contracts go through. That is the only information I need to trade.
If you ever find a product that can show me that for Crypto exchanges then please PM me.

I have been into forex trade for couple of years and now also trade on cryptocurrencies! Here's something I had put up to highlight the place of technical analysis even in crypto-trading:  
https://bitcointalksearch.org/topic/m.21228551
Technical analysis are basically one and same whether they're are deployed on maize, oil, stock or cryptos. At best, they serve as navigational tools and traders that see them from that point of view, hardly run into troubled waters.

I would rather say that the crypto market is still in its infancy and quite far behind in capitalization from forex trade. That's what creates room for the crypto markets to be manipulable by whales and things like China bias. Nevertheless, a sound background in technical analysis, is good enough to face anyone of those markets, paying close attention to the fundamentals that moves each market.

It's always more interesting to hear opposing opinions rather than to intesinfy your confirmation bias by positive feedback. Actually I have connected the interface to other exchanges but the responsibility to execude trades is too much to handle right now. Just the mere fact exchanges change their API here and there plus their own issues with reliability is this feature on par with gambling right now

If you would like to check out my app someday without registration and providing email, just PM, I would send you an invitation code.

It was nice to chat with you as well. Please don't take me being so dismissive of Heatmaps personally but I've been in this game many a long year and have seen the cycle of new toys for retail traders too many times. If they worked the top trading firms would have commissioned software developers to make in-house versions.

On your other point if you were to release a trading platform for crypto exchanges with a serviceable trading interface, capable of only part of what MD Trader can do, then I think you would be on to a winner.

Chart doest give you an answer for what will be the next that might happen its just your patern on what you must gonna do next some use yhis as their hint and they use this as the best that they gonna do for what will happen this is their what look for but they dont know that this is just an instrument its hard to speculate what will happen next eve though you are always check the chart.

I see your point. The MD Trader looks interesting. I will look into it more, possible implementing it into my app. Even though it might render itself as useless, I always learn ton along the way.
Nice to chat with you. Really appreciated

is there like a course or tutorial to get initialized in technical analysis ??

The charts give the investor a hint but it certainly does not make your guess correct. But there is no effect if you make a mistaken guess. There's a big mistake people made. People think of charts as 3 -5 different graphics. Not all charts are variations of this 3-5 graph.

The Heatmap I'm talking about has been "the latest greatest tool available to traders" for the last couple of years. If you look back at the history of it when indicators like MACD first came out snake oil salesmen were selling it for $10k. Then the chart package makers started to include it free, so the snake oil men moved on to the next big thing, rinse repeat.
I'm aware of Bookmap Xray https://bookmap.com/ $49 - $99 a month, being one of the first, now everyone is doing it and it'll be free in all charting packages in a couple of years.
In the end, all Heatmaps are is a visual representation of where orders were and that information is of no use to a trader at all. What I want to know is what orders are there now and do they get filled. So whether it's a chart of what trades occurred in the past or what orders were in the past I don't want to know.

DoM is the trading interface. TT that I mentioned before call it MD Trader but they get very protective of their copyright and patents so everyone else has to call theirs a DoM.
They show all the information a trader needs in numerical form and that's all the pro trader will look at.

Watch this: https://www.youtube.com/watch?v=JXaDX-vtAw0



Not that I can find right now, I'll have a deeper dig, but this mainly comes from conversations with traders.

Edit: I found a decent review of Bookmap Xray https://www.tradingschools.org/reviews/bookmap/
tl;dr

Great insight, thank you for the links! I will definitely check them.
I am not completely sure though if by heatmaps we mean the same thing. I might be using the term wrongly. You mentioned DoM. That is what I am visualizing with "order book heatmap". I agree it does not provide complete info about DoM due to existence of hidden orders and traders executing orders real time. I believe ask/bid ratio can be complementary indicator of changing volume, canceling pending orders, etc. I might be wrong, no argue with that.

I am still backtesting the trading history heatmap but it looks like a good indicator of market sentiment and trend strength. Do you have any papers or blog posts opposing this charting style?

That's Ok, I wasn't thinking you selling anything. I have experience from many years in investment banks and know some professional traders in prop shops. Every single one of them trades purely from a Depth of Market. That shows bids, asks, volume at price and cumulative trades at the current price. They only use charts to make a note of possible support and resistance areas first thing in the morning before they start.

Heatmaps are just the latest in a long line of snake oil being sold to retail traders. How can knowing where there were some orders that got pulled previously were help you? The only thing that matters is what is happening right now. Are orders getting filled or being pulled, are there icebergs producing orders as fast as the ones you are seeing being filled. These are the only things that will tell you what is happening now so you can make a good guess what will happen next.

If you want to see how pro traders do it I think you can find youtube videos by a guy called John Grady who is about the only trading educator I know of with prop trading experience and who is an actually profitable trader. (I'm not recommending any of his services, I haven't tried them, I'm just pointing out the videos show what a pro is actually looking at).

Also if you want to have a go yourself you can sign up for a free demo account at Trading Technologies (trade.tt). It's the software the vast majority use. The demo is 10 minute delayed data from the CME and CBOT, but you can pretend it's live.

Thanks for your opinion. I agree with you about Heikin Ashi and Renko. It was just a request from few users. Also I am not selling anything and I have no plans to monetize that in the near future. I just wanted to share my experiment.

I am open to discussion about heatmaps though. You've said yourself, watching order flow is important to determine if the support/resistance will hold. I might be biased but heatmaps have proved itself very useful in this regard (for me). Support and resistance is so easily visible from order book heatmap and the overall ratio of trading history heatmap can determine trend strenght better than ADx or whatever momentum indicators I tried to use.

It's true I am not a professional trader so I would appreciate some pointers to sources about pro trading and better trading methods based on your trading experience.

P.S. Heikin Ashi/ Renko are to my knowledge based on OHLCV data, Heatmaps on the other hand rely on trading history and order book snapshots. Am I missing something?

No, I wouldn't. Heatmaps, Heikin Ashi, Renko... etc. It's all nonsense really. None of them can be described as more accurate as they are just different visualisations of the same data. A lot of people got very rich selling the latest, greatest charting method and fancy indicators. If you have the chance to visit a professional trading firm you'll notice that none of them actually look at charts while they are trading.
I only use charts to determine support and resistance levels i.e. where did the market turn round last time. That doesn't mean it will again this time but I know it's an area that all pro-traders will be watching. Then I just watch order flow to decide if the level will hold or they're going to smash it for stops. That actually is all trading is.

Indeed trading requires a decent experience in order to perform great in this field. No technical analysis is useful for you until and unless you yourself have been through that situation in trading. The only analysis you need to trust is your own research and experience.

There is no doubt that crypto market is highly volatile and this is the real beauty of this market. Volatility is good for investors.

Would you like to try something more accurate? It's an experiment I finished few days back. It's a visualization of trading history, you can view it in cumulative or buy\sell view mode therefore you are able to see where and how much was traded. Also try to turn on "order book". It's a heatmap of orderbook, awesome way to see support and resistence.

https://cointerminal.io/heatmap

I am still working on better introduction since this concept of charting is very exotic.

Regular technical analysis tools would be helpful to support the decision in some certain point but it has to be studied in detail.

the technical indicators are pretty much the same as the traditional one's. The thing about the crypto market is that it's so much more volatile than traditional markets, by volatile I mean that the price increases or decreases way more than traditional instruments. For example the S&P index fluctuates around 0-2% max a day, while BTC can go anywhere from +/- 20%, which is quite insane. When comparing the technical indicators though they are quite similar with what you'd expect in the FX market. And on another note, the crypto space is much easier to be manipulated. There are people pumping as you might have heard, which doesn't really happen often in traditional markets, so you are more likely to get "played out"

It really is not. The stock markets are dominated by high-frequency trading algorithms running on custom-made machines with built with FPGAs colocated in the exchanges. There a are some trading bots being used on crypto but they are much slower because of the latency caused by internet connections. Your chances of success are far higher in crypto trading due to the absence of these HF alogos.

the crypto exchange is lot emotional because the crypto market is a faster than a stock exchange market. Here in the crypto market is easy to get a money if u have an idea about the trading analysis if u are a trader in stock is a same charting like candles stick. If u want to earn in trading just u need collect first knowledge before you enter in the market for u know what will u do in a crypro exchanger..

Yeah, this is very true. Alt coins are incredibly more volatile, I remember the massive dump that happened with ETH when the fake rumors of vitalik's death were everywhere. BTC has solidarity because the founder(s?) are anonymous and they are irrelevant since the protocol established it's own legitimacy. Eventually though we might see more psychological analysis in play for these markets once the playing fields are leveled but that may be a while.

Technical analysis is a great thing,but I would recommend it in two conditions.
The first one is you already have experience in trading,do not expect to be any easier for bitcoin charts + always parallely follow the news and updates.
The second is do not use it for altcoins.The market is way to volatile and often artificially pumped by the coin holder,
likely various youtubers etc.,and when they sell it the price dumps,making any technical analysis useless.
There are some hilarious examples,just look at the ChainCoin chart,beware of things like that.

I am starting to read charts because I want to start trading soon. There is a little difference between chart in traditional stock exchange and crypto exchange, the details are very important to consider. But when it come to techniques, better learning there differences too for easy adaptation.

Right. If you've been dealing with stocks before entring crypto trading then you'll pretty much have a better picture of how to read the charts. Personally, i sometimes rely ok gut feel whenever i read the candlesticks to know mostly the time for entry.

Chart analysis is no doubt very much important thing especially for a trader. It carries a very significant role and it demands a very high level of precision and accuracy. The fact is no matter how much educated you are, you can never trust on your analysis as you never know what will happen in the coming days. Yet it can help you a lot in making better and wise decisions.

                           I think both of them are likely the same as they have the same patterns and candle sticks that needs to be studied carefully, but as for my own point of view, neither of the two can be profitable as long as you are well experienced  and has a lot of knowledge about studying charts, and as for my opinion also, because of the unstable prices and volatility of the bitcoin's market it would be hard to just study the chart alone.

A candlestick is actually displaying four pieces of information and has become much more commonly used than it's predecessor the OHLC bar. As the name indicates it shows the Open, High, Low and Close of each time period. The candlestick only varies in that rather than a tick for the low and high it colours in the body of the candle. There was a guy called Steve Nison who got very rich from marketing the idea he took from an ancient Japanese rice trader.

You can use the same tech indicators. However remember two very important points. Technical indicators are used considering the market history repeats itself. For cryptos there isn´t a good established history. Point nr 2 is that tech indicators are best when you have high volume and most altcoins are low volume. So technical analysis would work better on BTC trading against USDT because it has the longer history and high volume.

It can be used in other coins, but be prepared for losses.
Have fun:) and don´t be to emotional!

Theoretically, is it possible to be successful in short time traiding using only technical analysis, or is it impossible without fundamental analysis?

They both are the same, you can compare them both, and you will notice that they have the same patterns in every situation, and you can compare all the patterns if you use bollinger bands, you will see that when a bearish trend is aproaching, all the signals are the same, and it applies to bullish trends too.
So there is nothing new with chart analysis, and if you are good at this, you will be a very good trader, in forex, stocks, and in altcoins too.

Good question my friend, well to be honest i don't think that there is any big difference between crypto charts and stock charts. All the major  trending pattern, Chart patterns and other technical strategies works similar way to stock trading. The only difference is that crypto charts looks messy due to big price spike due to big volume and big volatility on single days. You can use the same chart analysis techniques on crypto trading which you are using on stock market, but make sure that breakouts and reversal pattern have good supporting volume for confirmation.

Why you need technical tools to analyze the price chart and the values movement. I don't think we need that to happen here. Manually you can check the chart or you can bots gunbot to monitor and manage your trading account.
You can make profit by this manually intervention itself.

It is a straight candlestick, same as when used in NASDAQ. A candlestick confuses people because it is displaying. more information than the axis's normally would. Like 3 pieces of info displayed on a 2 axis grid. The main difference between the stocks and crypto is the fact that most of the crypto moves are based on total BS and rumors, feelings and just guessing, while at least a good part of the stock market trading is based on real world changes.

I have a hard time analyzing charts in this industrt. In which I have noticed that traditional stock market and market cryptocurrencies is a bit different due to the high volality of market. In a period of time, it determines changes in prices as we can see are the waves. In which it is not observe on the other. Understanding charts are very important to know and obtain good income with investments. High volatility is always accompanied by high risks. Technical analysis is needed to predict the movement of values and reduce as possible.

That is very true,  and there are many analysis to consider. Those are only prediction tools and most likely it will happen but there are also signals that will not make it. According to my trader friend, there are 3 indicators that they consider, The Technical Analysis + Fundamental Analysis and the Volume. Even when 2 of that is positive I think its already a good signal but still be cautious always.

I am using some plugins of Metatrader, and i do my own analysis in there, it is easy because i only use MacD, bollinger bands, and RSI, and if you configurate them well it will always tell you when to buy/sell some coins.
I am really happy with my own analysis, since i am getting better everyday because i have some experience on it, because i used to trade with stocks before.

Chart analysis is indeed a very essential thing if you want to survive in the world of trading. But the fact is it is actually not of piece of cake to become an analyst. It demands a great amount of knowledge and it requires a lot of time and experience for you to learn this thing. You can surely learn this art with hard work and good motivation. This will help you a lot in making better decisions.

Thank you all for the good discussion. A lot to think about, a lot to read, a lot analisys to make in front of me. In my opinion we should use TA together with FA and information from market. Only big picture can give us some advantage.

Personally I'm not a fan of technical analysis, because in many ways (lower volume, higher volatility etc.) crypto charts are different to regular stock exchange charts. There are some factors that can indicate market movement. But overall I don't really believe in TA for crypto trading because in the end anything can happen. For crypto the best kind of analysis that applies, in my opinion, is fundamental analysis.

Even myself would really say that technical analysis do work sometimes but not all situation which as you said it would really matter most on your experience on doing trading. Having different kind of ways and applications into your knowledge will sum up and would result to have a good trade set up.Cryptocurrency prices is really a volatile on and if you miss the ride for sure you would lose up money.You can freely make use of technical analysis which are the same on stocks or forex but you should not rely too much on it but still you can able to get some ideas.

In my opinion and experience in trading, between that is totally different. Chart of market formed by volume transaction and marketcap, while crypto market has volume smaller  than stock traditional exchange. Crypto chart mostly only pumd dump , especially altcoin with low volume. So Sometimes technical analysis when we use in traditional stock it doesn't work in crypto market.

Its a plus if you know how to read charts from the traditional stock exchange but since crypto is more volatile or the price moves a lot quicker than the traditional ones. In traditional stock exchange positive news makes a big impact in the price of the stock while crypto, sometimes it does, sometimes it doesn't. Fake news makes a big impact though lol

On the contrary. Long-term investing is nothing to do with trading and you should be making investment decisions based on fundamental analysis, not technical analysis.

Professional traders at proprietary trading firms don't use charts at all and base all their trades purely from order flow from the DOM (depth of market) trading interface.

Using charts is for what I would call medium-term or swing trading, trades that last more than a few minutes may be up to several days or weeks.

They are the same, if you had previous experiences with charts analysis, then it would be easy for you to analyse and predict the price if you know how to use the indicators and how/when you need to buy/sell.
And those who does not knows anything about technical analysis doesn't have a succesfull trade, because they only buy/sell based on their emotions, not on the market trends.

In trading I don't think we have accurate systems and we should adjust our minds to this reality. Both bitcoin and stock has the same emotional habit around them and as a long time forex trading I can categorically tell you that there is no much different between bitcoin trading and stock or forex trading. I do trade using candlesticks formation and pattern and I have never allow myself to be move by the rumors that control traders mind. Pin bar candlesticks formation is one of my best trading signal both to open a positions or to close an orders, it stand as a support and resistance level and you can use it as a trend reversal point. Some people use moving average to determine when to buy or sell in altcoins or bitcoin trading and they also has some accuracy. Trading is a game of skills and knowledge and it is your skills that determines how much you make both on stock, forex or bitcoin.

i dont know a lot about stock exchange but i can say the chart analysis is just the same
but on my crypto trading i still rely on news and updates of the coins although i realy want to learn this chart analysis myself so i can relate to those giving out signals using this

Hi,

Chart has it's own definition - Some data that is represented in form of geometrical figures which conveys information effectively.For my below explanation,I'm assuming you're referring to this chart.

- Share Market chart or any other market chart has nothing to do with bitcoins.have nothing to do with easy other actually.They represent separate sets of data,
- I don't think crypto scene is more of an emotional dependency.Share market holders have emotions attached.
- Start reading more about bitcoin banking in general.Watch a couple of videos on trading basics.

I have seen crypto working very differently from stocks because the way stocks are analysed consists technical levels whereas dependence on technical levels completely in bitcoins would be dangerous because bitcoin trading works/reacts more quickly to the news that stsrts trending and mostly scares/amazes everybody of something new happening in the near future.

But I think that Your method works only on long term investing. Short term without charts is 100% gambling 

I don't really look at the chart or read people chart analysis when I trade crytpo-currencies in the exchange, because crypto-currencies market is different from the stocks in one area, which is the huge volatility in bitcoin, it would be better to read about upcoming news on bitcoin daily, whenever there is a positive news, there is always a chance for the price to rise high, but vice-versa, the price could drop huge too if there are a lot of negative news on bitcoin spreading around in the bitcoin community.

The main difference is that crypto charts never sleep. Usually markets close, and traditional markets have these stops while crypto markets are active 24/7. Crypto is also much less regulated, so there are lots of scams as well as opportunities to get rich, but only safe coin out there is bitcoin, because you don't risk ending up holding a bag with no liquidity.

Both traditional and crypto exchanges trade with fundamentals and technicals on mind. Emotions are also in classic markets.

Yes technical analysis skills from forex trading can be also used in analyzing crypto charts. Most of the elite crypto traders were forex traders before, they got attracted towards crypto because market is more volatile than forex and they can make profit every day on price swings.

Crypto market is still driven more by emotion and psychology decisions than forex.

Well technically, you still can. But you can't always rely on them in cryptocurrency trading. The main reason is the volatility of cryptocurrencies, it can easily be affected by massive buying and selling or pumps and dumps.

hey guys, once you come to a conclusion that either there is a difference or not you can use this tool https://coinalyze.net/ to do your chart analysis

I think there is no difference between any chart analysis whether its stocks, forex, or crypto exchange. What matter is the volatiliy because every chart analysis start mostly with technical and not any fundamental issues and it depends basely on the chart price and candlesticks movement. In my experience, emotion occurs based on wheter you feel comfortable placing your hard earned money without any protection or you're confident enough with an entry and exit plan in every transaction you've made. And yes i pretty much sure that we can use the same analysis techniques on every chart

I agree with what our friend said

;  with the technical issues, but on our side we have more emotional communication with you. I do not think classical Trade methods will be much more effective in this regard, as developments in meetings are open to innovations or thefts, but I do not think it is too much to try and misunderstand. I Love Butterfly Effect leaves nice pips

That's pretty much the case on the low volume altcoins. High volume and liquidity markets like BTCUSD I find technical analysis is still very useful even though not as precise as on futures markets.

That makes sense. I didn't account for automated high frequency trading, but I also assumed that part of what makes technical analysis less applicable to crypto is the general lack of trading expertise creating a more random market. Add to that relatively low trading volume and you get every pumper's dream and every technical analyst's nightmare.

im not have experience at traditional market trading.
for me learning crypto stock chart is very hard, sometimes we found the great sky line to sell it, but sometimes before reach it, bad news come and the price down again 

It can be a guide but cannot be not be fully precise.
You can look for more besides that.
The hype can also affect the price and sometimes can do a lot of damage.
The FUD. Once it spreads too much it also makes a big difference. So all of that should be considered. You will always look to what the people are trying to make out of it.

I also come from a traditional trading background. I think the reason for what your buddy observes is that the big hedge funds use algorithmic trading systems and these are not present on crypto. A lot of those algorithms are built from technical patterns and because the big players are using them they become a self-fulfilling prophecy. There are some trading bots available for crypto but their systems are highly primitive in comparison.

Yes chart analysis both works in stocks and crypto currencies but I think they worked well in higher timeframe starting from daily timeframe and above and also fundamental activities occasionally affects the price movement of all this charting analysis, in stocks we have news, especially from drahgi and in bitcoin segwit, be as it may there are some important Japanese candlesticks that works well when formed at some strategic positions e.g resistance and support or demand and supply tends to indicates price reversa or continuation  in charting analysis.

Which technical tools do you use most often? What else I can do to increase my chances of winning, except fundamental analysis?

Thank You everybody for Your anwers, I hope so it will be helpfull for someone else but me.

no, the techniques are exactly the same. but you should know that "chart analysis" is not exactly science and it is not fool proof. in other words you don't predict anything with your analysis, you just make some guesses about most possible things that can happen. and it doesn't really have to happen.

"emotion" has nothing to do with it. the crypto market in general is small and because of that it is easy to manipulate. there are altcoins that you can simply pump with as small amount as 1BTC!

Quick answer: no. We can still use the same techniques on analysis and whatnot, but we can't rely to them as a solid proof/correlation to future price movements because as you said it, crypto markets are more emotional compared to your regular stock markets. I dabbled a bit in cryptotrading, and there are only two indicators that I used most of the time: price together with the current news and the order book in all exchanges. Getting the general sentiment of the market towards the coin is a good start, and you can measure it by the price and what's on the news today. And what defines it further is the order book. Strong support on the buy side proves that the market is positive and is ready for a push. That's how I do it though, and it's going pretty well from me. Haven't used MACD and other common indicators as it only increases the noise to signal ratio in my analysis.

Technical analysis still works but the difference is that there is more fundamental analysis involve like news, roadmaps and updates to the project. In stocks, there are certain prices that a trader looks at like round numbers or looking at fibonacci retracements but in crypto it still apply but more often than not it is bypass because there are so many pumps and dumps happening. Many traders are more focus on news than the technicalities of it though TA still works but it has a less percentage being effective than in stocks do. In stocks, usually the traders have large capital that's why a news that is still unverified may not move the market but in crypto, a single unverified news can move the market because of herd mentality.

In concur. A buddy of mine is doing a lot of stock trading and has also dabbled in forex and crypto a bit, and according to him it's very different. The basic rules still apply, but much less reliably. Nonetheless I guess it's mostly a matter of experience, so if you know your technicals and watch the crypto markets a bit you should be able to take your own lessons on which techniques work and which don't.

technically you can do it,
in general trading stock and others are same like trading cryptocurrency.
but the difference is cryptocurrency easily manipulated by some peoples,groups or organizations.
unlike trading stocks,it need a lot of factor to determine the price.
for example crisis economy and something like that.
in other words,if you're using your chart analysis at least you can read the market at least 70% and the rest is come from the trader themself.
but if you're using it in cryptocurrency you will only get 30% from it,and the rest is from trader sentiment.
'Buy on rumour and sell it on news'.
that is the rule when in cryptocurrency.

so can we use it ? yes you can,but you can not use it fully(i mean you can not use it as your goal,mindset or whatver you called it).
but instead use it as a map for your decision and make some action based on the map and trader sentiment.

I can say that having technical or chart analysis do somehow works on crpyto trading but not all the times since volatility is really high which isnt really compared or the same on stocks or forex trading.This is why i do say it is somehow hard to trade up on this cryptoworld but still manageable if you do already got the techniques or ideas.

Good question  , looking forward for answers of experienced crypto traders

Hello to everybody,

I have question about chart analysis. Are there any differences betwen chart analysis in traditional stock exchange and crypto exchange?  Considering that the crypto exchange is much more emotional in decision making? Can we use exactly the same analysis techniques or do we have to adjust them to our crypto reality? If yes, please give me some tips what I have to change that the analysis would be more accurate.