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Topic: Crypto Charts Are Garbage (Read 419 times)

hero member
Activity: 1876
Merit: 721
Top Crypto Casino
March 07, 2020, 02:35:39 PM
#67
Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.

The chart only gives you an idea of ​​what kind of market changes you will happen in the future. The chart will not give you 100% sure signal, It's only give a idea about market. Now it's up to you how you use your strategy. I have seen many traders who do good trading by analyzing charts. So I think the chart is not bad for trading, if you have technical analysis knowledge.
sr. member
Activity: 1638
Merit: 278
March 07, 2020, 02:18:51 PM
#66
Meehn, it’s not only by reading the charts, there are other facts that you will have to consider as well which are very important. Cryptocurrency can be affected by events that take place in the market, and lots of things happen, you just have to be following up with the biggest events that take place in the market and that way you will be able to tell where the market would likely be heading to.

If you’re going to be focusing only on technical analysis you’re going to be getting it wrong. I have seen people that tried it and even applied the best strategy and it still didn’t work out. That’s why McAfee said that Bitcoin is the worst asset because he has tried a lot of times to predict the price using TA but he couldn’t lol.
hero member
Activity: 2912
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Leading Crypto Sports Betting & Casino Platform
March 06, 2020, 08:22:39 AM
#65
Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
stocks markets volumes are good so you can see continuous candles , but in crypto volumes are less then stock market and volatilely is more so you cant expect same things to work in crypto markets   

Yeah, I think if he wants to do crypto trading, he should learn about crypto trading and don't use the analysis of the stock because that will be different. The crypto market has more volatile than the stocks, and the price in the crypto market is not only based on the economy on the country, what happened to many countries, but is more than that. The charts in the crypto market can help someone to analyze the price trend, but of course, we need to learn about the indicator so we can make predictions where the price will move.
sr. member
Activity: 396
Merit: 250
March 06, 2020, 06:13:40 AM
#64
Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
stocks markets volumes are good so you can see continuous candles , but in crypto volumes are less then stock market and volatilely is more so you cant expect same things to work in crypto markets   
legendary
Activity: 2758
Merit: 1228
March 06, 2020, 05:27:54 AM
#63
Bitcoin is based on Candlestick if I am not mistaken, Im actually using that.

Not actually based.

Candlestick is a strategy being used by the investors to see the indicators, will it start a bull?; will it start a bear market, that will be the basis but that doesn't mean that it is based solely on candlestick. You can still lose since with the volatility of the price of Bitcoin and other cryptocurrencies, you never know what might happen.

that's correct, what's more accurate is the news as that would drive the hype.
just like this year, if you are just basing on the candlestick and you don't consider the coming halving, you won't think that the start of the year is bullish.

Charts are very useful but its not the only useful thing to determine the future movement of the coin we are analyzing. 

Sometimes I don't ride with the news since it's deceiving but what I am doing is reading the chart where we can see an indicator on what will happen next although this strategy is not really accurate but still a good bases for traders to win, And this is really helpful for newbies since if they can learn it they can figure our on what will be the outcome for analyzing the movements of there beloved coins.
hero member
Activity: 2940
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Winding down.
March 06, 2020, 04:19:10 AM
#62
Bitcoin is based on Candlestick if I am not mistaken, Im actually using that.

Not actually based.

Candlestick is a strategy being used by the investors to see the indicators, will it start a bull?; will it start a bear market, that will be the basis but that doesn't mean that it is based solely on candlestick. You can still lose since with the volatility of the price of Bitcoin and other cryptocurrencies, you never know what might happen.

that's correct, what's more accurate is the news as that would drive the hype.
just like this year, if you are just basing on the candlestick and you don't consider the coming halving, you won't think that the start of the year is bullish.

Charts are very useful but its not the only useful thing to determine the future movement of the coin we are analyzing. 
legendary
Activity: 3052
Merit: 1188
March 06, 2020, 04:14:33 AM
#61
in what way you read your stock analysis ? via charts too or candle based ?   . i think stocks is like a crypto too because both of them rely on other factors  .  you think its not candle based but many people are still making graphs and based thier moves on it   .

 it does not suck too much because those tools are helpful somehow but obviuosly not 100 percent accurate because if it is then all traders are rich now   .  they are only annoying because they are everywhere , your annoyed if your not a fan of them
In stock markets there is at least some sort of regulations that makes sure the prices are not really played with all that much. I am sure there are still some insider trading going on and from the ones that we see that gets caught we know that it happens but I am sure there are ton more that doesn't get caught as well. In the end chart reading could work very well for stock markets because of the regulations and rules of stock market trading.

However, in crypto there are no regulations that can stop you since bitcoin is decentralized and you can buy 1 billion dollar worth of bitcoin today and nobody can stop you, you can also sell 1 billion worth of it and nobody can stop you from that neither. If you are in a country with laws regarding profits or losses, you will have to pay taxes or explain where you found the money and so forth but you can not be stopped, if you are not in a country like that, nobody will even notice it.
hero member
Activity: 1722
Merit: 528
March 06, 2020, 03:54:03 AM
#60
Bitcoin is based on Candlestick if I am not mistaken, Im actually using that.

Not actually based.

Candlestick is a strategy being used by the investors to see the indicators, will it start a bull?; will it start a bear market, that will be the basis but that doesn't mean that it is based solely on candlestick. You can still lose since with the volatility of the price of Bitcoin and other cryptocurrencies, you never know what might happen.
newbie
Activity: 41
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March 06, 2020, 03:33:55 AM
#59
Bitcoin is based on Candlestick if I am not mistaken, Im actually using that.
legendary
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Leading Crypto Sports Betting & Casino Platform
March 05, 2020, 10:51:00 PM
#58
If so, does that mean you consider bitcoin / crypto to move based on a manipulation or something else? Because when you no longer believe in any chart there, at least you are a fundamental trader and I don't think that's bad either, because when you have experience and skills in reading any issues that occur and are accustomed to it, then we don't need to say a chart is garbage because everyone has their own way whatever makes them more confident to do it.
full member
Activity: 961
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SweetBet.com
March 05, 2020, 07:00:47 PM
#57
In the very least, they give you an idea of the support and resistance levels of a coin.
sr. member
Activity: 2842
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Vave.com - Crypto Casino
March 05, 2020, 05:39:38 PM
#56
Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.

I really agree with you on this, a lot of the so called expert have lost their reputations due to failed Technical Analysis given over many times. To my understanding,  i think cryptocurrency prices are more control by the potentials of the project behind it than the assumptions of it's traders. Sudden annoucement and project development can greatly influence token/coin price thereby rendering the chart useless. I think this is what causes major failure of technical analyses
The OP dependent only technical analysis not minding any sudden announcement made with regards to that particular coin would definitely defies any forms of TA especially charting techniques.
In stock markets there calendars of upcoming news which service as a guide to a  trader thus enabling a trader to trade with caution whenever a pronouncement that can influence the price movement is made, of cause such is missing in crypto markets fundamentals is the prime mover of prices of cryptos.
hero member
Activity: 2828
Merit: 611
March 05, 2020, 12:06:41 PM
#55
If you have already worked 10 years of your life with the stock markets than you should at least understand what actually candles are. Candles are nothing but just a pattern to show the market movements and we have to make our TA based on the market history.

Crypto markets and stocks markets do not have much difference as they both would only give us great profits depending on our technical analysis. You have to learn more about the charts and patterns and try to devote maximum time towards the crypto markets so that it gets easier for you to start trading. Speaking about the current trend, I can't predict the exact future but a small dip might be expected before the price starts pulling back.
copper member
Activity: 87
Merit: 6
March 05, 2020, 11:49:20 AM
#54
Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.


Only if your charts suck... Mine don't:

full member
Activity: 1330
Merit: 147
March 05, 2020, 09:42:38 AM
#53
Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
So what your intention to come here? if you are trader stock just trade at there and you will be fine.

We never say that stock is bad or anything else because we know what stock market is. And this is what you need, I mean before you make a conclusion especially bad conclusion who say crypto market are manipulated then you have to give a proof. I myself will accept it every your judgment is true, but if you don't have anything it will be useless.

hero member
Activity: 2562
Merit: 586
March 05, 2020, 09:08:33 AM
#52
Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
Some analysis I see don’t only rely on charts to make predictions on where the price is heading to. They make use of a lot of other factors and connect it together to determine where the price is really heading to. If you’re going to be relying on just chart you will keep getting it wrong and predictions most of the times wouldn’t be what is going to happen.

If you check analysis of the top ten cryptocurrencies on coin telegraph you will notice that it’s not just charts that are being used, there are other factors that are involved. Though when you combine all that it still doesn’t guarantee that your predictions are going to be hundred percent accurate.
legendary
Activity: 3094
Merit: 1127
March 04, 2020, 01:12:36 PM
#51
in what way you read your stock analysis ? via charts too or candle based ?   . i think stocks is like a crypto too because both of them rely on other factors  .  you think its not candle based but many people are still making graphs and based thier moves on it   .

 it does not suck too much because those tools are helpful somehow but obviuosly not 100 percent accurate because if it is then all traders are rich now   .  they are only annoying because they are everywhere , your annoyed if your not a fan of them
What are you saying man? The things you do talk is just basically showing up that you arent that much into trading. When you look up charts
the indicators would either be on candle,graph etc. which do indicates prices on a particular time frame.

I wont say that they are garbage because most traders do rely into this analysis.It might not be precise but people been doing or using this stuff
when dealing up with the market.Outcome would either be good or bad because market is always been unpredictable.
full member
Activity: 1638
Merit: 122
March 04, 2020, 12:57:08 PM
#50
 in what way you read your stock analysis ? via charts too or candle based ?   . i think stocks is like a crypto too because both of them rely on other factors  .  you think its not candle based but many people are still making graphs and based thier moves on it   .

 it does not suck too much because those tools are helpful somehow but obviuosly not 100 percent accurate because if it is then all traders are rich now   .  they are only annoying because they are everywhere , your annoyed if your not a fan of them
legendary
Activity: 2338
Merit: 1124
March 04, 2020, 12:49:19 PM
#49
Without using the chart, and only depend on the hype, FOMO, and the FUD, he cannot analyze too because he needs to analyze the movements from the chart. So it will have a connection between chart, hype, FOMO, and the FUD so you can analyze better than other traders, and that means, you will have a chance to make a profit.

Crypto charts are not garbage as long as you can use it with the right. You will have a sign or guide to predict where the price will move in the next hours. But you need to have the knowledge to analyze the chart so you will get the other clue besides using the hype, FOMO, and the FUD, and perhaps, you will have a good prediction about the price and the next movements of the coin.

That is what I am saying but we can't just fully rely on the graph and say, "HEY! I know what will happen next, I can see the trend".. with that as your way of predicting the price, that would not give you success, news is the best information and think what the majority would think, then analyze your decision.
Basically you would have to spend lot of your time in learning about the trend. You have to follow news but also you do not have to get affected by the FOMO going around. You have to make your own technical analysis and the charts would be the basic start for this. You have to learn a lot of new things before starting with trading if you want to have profits with minimum loss.

Charts are everything which explains about the trend and the market history so I assume them as the start of my TA. Only charts would never give you profits as earning profits is not that easy. You have to continuously speculate the graphs along with watching various news about updates in the markets. Any small change can lead to a huge price error and we should find our profits from such price gaps.
legendary
Activity: 3122
Merit: 1140
March 03, 2020, 06:56:48 PM
#48
Anyone sick and tired of articles citing charts? I’ve been in stocks for 10 years and I know how to read them. Bitcoin/crypto isn’t candle based.
I can see candles on the chart of crypto so I think it can be based on that. Even if there’s a big volatility in cryptomarket, i still depend on its chart to see the price movement and as a trader, I really have to rely on that. Candles in stocks and cryptomarket are different because of its volatility, but it still have the same concept.
It indeed on the same concept and i do heavily agree on what have said above that its better to make use of technicals rather than trading blindly
because you are just basically doing gambling in that case.

Trash for others but this one is a gem for some.I do rely also on technicals but i cant really deny that volatility can anytime wreck your Candle stick readings
unexpectedly and on high intensity.
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