Crypto Charts Are Garbage | Bitcointalksearch.org

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

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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.

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Quote from: quarkfx on March 06, 2020, 06:13:40 AM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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

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Quote from: Vaculin on March 06, 2020, 04:19:10 AM

Quote from: Janation on March 06, 2020, 03:54:03 AM

Quote from: HakaseMarui on March 06, 2020, 03:33:55 AM

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.

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Quote from: Janation on March 06, 2020, 03:54:03 AM

Quote from: HakaseMarui on March 06, 2020, 03:33:55 AM

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.

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Quote from: imstillthebest on March 04, 2020, 12:57:08 PM

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.

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Quote from: HakaseMarui on March 06, 2020, 03:33:55 AM

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.

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Bitcoin is based on Candlestick if I am not mistaken, Im actually using that.

hahay

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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.

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In the very least, they give you an idea of the support and resistance levels of a coin.

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Quote from: Utoy101 on March 02, 2020, 03:13:51 PM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

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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.

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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:

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

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Quote from: imstillthebest on March 04, 2020, 12:57:08 PM

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.

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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

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Quote from: Sanitough on March 03, 2020, 07:28:25 AM

Quote from: maydna on March 03, 2020, 01:17:10 AM

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.

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Quote from: ?? on ??

Quote from: prussg on February 28, 2020, 10:04:24 AM

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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For me, Charts and indicators are just guide for us to make a better decision on trading it is not guaranteed to be correct all the time, I guess some assume that chart does not lie but I don't think so, crypto is sometimes really unpredictable. But learning those indicators, charts, recent news is better than nothing.

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After reading through the thread, all I can say is that:

– Technical analysis /charting is still a vital part of trading cryptocurrencies.
– Charting works with other forms of analysis (fundamental and sentimental). Being more flexible with more than one analysis type can increase one's odd.
– Technical isn't a guarantee to make profits.

The truth is that technical analysis still works despite the volatility with cryptocurrencies. These days, TA + price action gets the job done. If tge market is evolving, do the same.

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Quote from: sana54210 on March 03, 2020, 01:16:53 PM

Yeah, differentiating the good ones from the bad ones are the real trouble to people who do not read charts themselves. When you go into chart reading world you will realize that there are many people who are horrible at this but still continue to make charts and tell people what bitcoin will do and you are scared that people may actually believe them, that is why if you want to listen to other peoples chart readings and you want to take them seriously, you should first learn about it yourself.

If you can't read charts at all, you should not look at others as well since they could be very good at their job or maybe they are just making stuff up and newbies themselves, so you can't be sure.

For me I see no problem about monitoring for the crypto chart because it is still depend on you if you want to believe to it. This kind of chart give only a possible happen in the crypto, but it doesnt mean you need to follow or believe on what ever it say about crypto. For me its better to have enough and own knowledge about the chart and youre the only one who can say if its worth to believe or not.

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Yeah, differentiating the good ones from the bad ones are the real trouble to people who do not read charts themselves. When you go into chart reading world you will realize that there are many people who are horrible at this but still continue to make charts and tell people what bitcoin will do and you are scared that people may actually believe them, that is why if you want to listen to other peoples chart readings and you want to take them seriously, you should first learn about it yourself.

If you can't read charts at all, you should not look at others as well since they could be very good at their job or maybe they are just making stuff up and newbies themselves, so you can't be sure.

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Charts are Charts! period!. All you need to do it's understand how the market it's moving, charts give you a general idea of it. But be also careful you don't know when fundamental news can throw to the garbage your analysis. Grin

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Quote from: carlfebz2 on March 03, 2020, 07:46:48 AM

Why would need to choose among on the two if you can do both? Theres no such prohibition on using up two analysis which is technical and fundamental.

Lots of traders do really apply this kind of system,wherever there are valuable sources of information and at the same time have some solid signals then collaborating the two
might give out big results.

It will just vary on ones decisions on when he would go in and would go out.

Why not three or four or more strategies? Yes, I am serious about that. When two logically completely different strategies are spotting same price levels for buying/selling then the accuracy for being correct must be nearly 100%. Coincidence of different strategies might be having more power than we could imagine. (Honestly I just forget the term for technically what people do refer when more than one technical analysis sporting same price level for market action.)

At the same time technical and fundamental analysis will not do that because they are making use of completely different data but will be giving you what you need to do at the particular time of trading. You may still work on both of them for the confident trading.

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Quote from: Sanitough on March 03, 2020, 07:28:25 AM

Quote from: maydna on March 03, 2020, 01:17:10 AM

Quote from: Sanitough on March 02, 2020, 05:38:30 PM

They are not garbage but if you will solely based on them in making a judgement, that would not make you successful.
You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.

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.

Why would need to choose among on the two if you can do both? Theres no such prohibition on using up two analysis which is technical and fundamental.

Lots of traders do really apply this kind of system,wherever there are valuable sources of information and at the same time have some solid signals then collaborating the two
might give out big results.

It will just vary on ones decisions on when he would go in and would go out.

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Quote from: maydna on March 03, 2020, 01:17:10 AM

Quote from: Sanitough on March 02, 2020, 05:38:30 PM

They are not garbage but if you will solely based on them in making a judgement, that would not make you successful.
You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.

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.

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Well, I'm not quite familiar with crypto chart but as a traders we need to learn that things, though it may not be easy to understand it but really, really need to get that understanding of course, especially in the indicators sometimes it gives helps for us to be aware for what we are going to do in the actual trading happening in the graph.

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Then it is what? I was kinda confused at your statement. Reading Charts really is a useful tool for both forex and crypto trading. Can you cite an explanation why crypto isn't candle based?

While not all articles showing charts are really true, you can still stick to your own technical analysis. There is so called "confirmation and comparison" to your own charts vs their charts. Remember that their chart is their own readings and own basis. Yours is different. But if you are confident enough to your own TA, no need to see other's charts anyway.

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Quote from: Sanitough on March 02, 2020, 05:38:30 PM

They are not garbage but if you will solely based on them in making a judgement, that would not make you successful.
You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.

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.

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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 think on this matter i partially agree because most of the articles now(if not all of them) are shits and just released to gain popularity but to deceive people.
they talk as if it was a truth but its not because there are no exact prediction happens here and they are just lucky to sometimes Got it right but there is no acuracy.

Quote from: Sanitough on March 02, 2020, 05:38:30 PM

They are not garbage but if you will solely based on them in making a judgement, that would not make you successful.
You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.

yeah they are not but almost all are,but right Graph can be used as basis but not one to believe truly .

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Quote from: Kelvinid on March 02, 2020, 06:33:37 PM

You don't need to push yourself into crypto charts and tried to understand it if you don't even want it. It sounds like you are abusing yourself and brings you into getting tired and bored because it seems too hopeless for you. Having this tool is not the only way to understand the market and will help you out from losing. There is a lot of things we need to acquire and to learn in order for us to win the battle and not being infected with these negative mind.

Many traders have surpassed these struggles because they want a change and they want to learn something new. And that should have to work out and stop relying on charts if not suited for you.

Absolutely right! Crypto charts are just mere guide but not really a reliable source when you are in trading. crypto is a very volatile investment that they sometimes you can't apply any technical analysis that you know of. each alt or token have different trading behaviors as they depend on the project itself, their developments, actual services/product, marketing campaigns, and many others. i will not consider crypto charts as total garbage, but you can use it in some specific cases. if you are trading a particular coin, you need to be updated with their development's progress, else, you will be blindly trading them and losing money is very possible.

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You don't need to push yourself into crypto charts and tried to understand it if you don't even want it. It sounds like you are abusing yourself and brings you into getting tired and bored because it seems too hopeless for you. Having this tool is not the only way to understand the market and will help you out from losing. There is a lot of things we need to acquire and to learn in order for us to win the battle and not being infected with these negative mind.

Many traders have surpassed these struggles because they want a change and they want to learn something new. And that should have to work out and stop relying on charts if not suited for you.

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They are not garbage but if you will solely based on them in making a judgement, that would not make you successful.
You have to consider the hype, FOMO, and the FUD in the market, you won't see that in chart/s but you need to read some news and speculation in order to judge it well. Remember, graph is just one factor needed to read the movement, it's not the main factor.

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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

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Quote from: rexxarofmoknathal on March 02, 2020, 06:22:03 AM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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 problem isn't in the charts themselves, the problem comes from the people reading and interpreting the charts and in this case it's the article writer.
This in fact is a challenge because unlike you many people go by what the 'interpreter' tells them and obviously that's not going to do any good.

Many articles cite charts because it makes their work more credible but one must be mindful about how these charts are being read. It seems that what you're picking on is the sole fact that they include it rather than misinterpreting the charts - 2 different things!

Totally agree with you, and to be honest you can't analyze the charts well when you don't have a good knowledge in trading field, that's fact but many newbies are keep making the same mistakes and they complain always especially when their plans fail. it is better to stop giving the excuses, you just need to improve yourself and learn from your failed experiences, that's the most important thing I would guess.

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tehee...sounds like my friend whos using a robot to analyze the crypto chart. Dude, i told him today that he isnt the only one whos facing this issue right now. I called this issue not for his trade style but for robot actions. He miserably faces hard on this month ( last february ), from TA it seems chart goin up at start of feb, but lately on mid something happen which it called double top as someone called it. He think it will go down for sure, but crypto like always doin something that TA never predict which goes north after swing low then after that goes high for a moment.
Since my friend was a FOMOers he choose to stop his robot and buy it. And like we know, the price going down, this is the moment as i remember as your thread said... CRYPTO CHARTS ARE GARBAGE...Dude never expect crypto just like forex instrument, is more volatile and more rash than it. Believe me, keep your TA steady and u will understand it. I mean after i wonder how i can get profit daily is like pipe dream, now i more like how do i get profit weekly or monthly nowadays.

rexxarofmoknathal

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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 problem isn't in the charts themselves, the problem comes from the people reading and interpreting the charts and in this case it's the article writer.
This in fact is a challenge because unlike you many people go by what the 'interpreter' tells them and obviously that's not going to do any good.

Many articles cite charts because it makes their work more credible but one must be mindful about how these charts are being read. It seems that what you're picking on is the sole fact that they include it rather than misinterpreting the charts - 2 different things!

Oceat

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Quote from: prussg on February 29, 2020, 09:42:30 AM

All I’m saying is I know technical analysis doesn’t apply to crypto because it’s a highly manipulated asset yet, every time you read an article, it refers to technical analysis which is utter nonsense. Moving averages exist but whether you’re trading long or short they’re very insignificant.

Reading and applying are two different things, if you think this is insignificant then the other will use it because it gives them the advantages. Crypto charts and forex chart may be different but both are using the same chart to analyze the prices so it's still significant in trading.

Quidat

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Quote from: Lanatsa on February 29, 2020, 04:19:39 PM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Good thing that you had realized and this had been pushed up by most traders out there that charting does really work.This isnt in likes of stocks
or forex where charting do somewhat much better odds on profitability but here on crypto then it would be an another story yet we know the
price volatility is too high which cant really be compared on stocks when using up technical analysis and its quite amazing that youve been charting
for 10 years and you can able to tell the difference.

This is true but people are still using this stuff even here on crypto space since they do know that trading on different markets does really require these kind of analysis and it is way more better rather than doing blind or intuition trading.They arent garbage actually if you do know on how to read it up, the only difference here is the accuracy on such charting where it cant really be similar if you do make use it on traditional markets like forex and as you said the intensity of movement of prices is really different which highly affects the efficiency of signals being used.

Lanatsa

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Good thing that you had realized and this had been pushed up by most traders out there that charting does really work.This isnt in likes of stocks
or forex where charting do somewhat much better odds on profitability but here on crypto then it would be an another story yet we know the
price volatility is too high which cant really be compared on stocks when using up technical analysis and its quite amazing that youve been charting
for 10 years and you can able to tell the difference.

FanEagle

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Look, I am one of the people who think TA is a bullshit as well and I do not agree with them most of the time but telling that they are garbage is also not a thing neither as well. The thing is, there are THOUSANDS of people who are trading without any data at all and they are simply just trusting their instincts and so forth and I still think that emotions should not possess a place in trading.

So, the people who do chart reading are basically just simply doing one more step than all other people, it still doesn't guarantee you a profit but when you compare just emotions versus charts, at least charts are better option because you know what you are looking for in charts instead of just making stuff up. Like I said none guarantees profit but at least it exists.

Findingnemo

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Bitcoin = Financial freedom

Quote from: pakhitheboss on February 29, 2020, 01:07:33 AM

Quote from: Findingnemo on February 29, 2020, 12:49:41 AM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Technical analysis don't give you 100% assurance on price movement because crypto prices are highly volatile and often goes with manipulation by whales so it will not follow the price charts always but when the market is in sideway for too long then your TA can help you to make more profits.

Crypto price prediction never works. Bull market or bear market strategy do not work. It only helps to minimize your losses. I personally do not consider them 100 percent viable way to analyse the market. You need to consider other aspects such as news.

I am talking about side way means the price sticks to particular region for too long but still have the daily price swings of 3 to 4% which makes the TA to be more effective than bear or bull trend.

prussg

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All I’m saying is I know technical analysis doesn’t apply to crypto because it’s a highly manipulated asset yet, every time you read an article, it refers to technical analysis which is utter nonsense. Moving averages exist but whether you’re trading long or short they’re very insignificant.

desertfox470

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I think the OP wants to say that the bitcoin or other cryptocurrency is not a candle based is that due to the volatility of the market we are not able to use the candlestick, Actually it's just my interpretation but in my opinion candle stick and charts are very helpful in order to predict or get a sign or rather a signal to change a trend or whichever phase the markets are.

The Sceptical Chymist

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Quote from: exstasie on February 29, 2020, 12:15:15 AM

"Not candle based?" What does that mean?

That's what I was wondering as well, but I'm not a believer in TA--not for stocks, and not for crypto. Unfortunately crypto doesn't lend itself to fundamental analysis, so the only way to analyze anything is by studying charts and trying to predict the future based on that. I wouldn't argue that it never works, but I've seen some bizarre analysis from TA guys.

And no, I'm not sick of crypto charts, because I don't read crypto websites in general and when I visit the Speculation section I pretty much know they're to be expected. If chart analysis makes some people money, more power to them and they must be doing something right. It's not for me, however.

Baofeng

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Well I'm sick and tired of seeing crypto related article posting bullshit charts, just to get some clicks, in short they are garbage, thus for profit making scheme. But there are good analysis in this community, you just have to go around and see some 'reputable" technical analyst here.

What do you mean by "Bitcoin/crypto isn’t candle based" though? As far as I know, candle sticks can show you the highs and lows, so it can help you track price predictions.

ice098

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Quote from: davis196 on February 29, 2020, 06:29:30 AM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Perhaps the article authors are going a bad job interpreting those charts.That doesn't mean that the charts are shit,just the article authors(who in most cases aren't experts in technical analysis) usually suck.
You are right that the crypto charts have little to do with the stock charts,but that doesn't make them a useless instrument for market analysis.Can you refer to some low quality chart analysis articles that you don't agree with?

Most of those who give their further details of analysis has been very inconsistent with a certain trend. Some of them were very aggressive on every thoughts which sometimes exaggerating to read. I am pertaining on respective movements of each coin value, and I don't see fair outcome because some analysis was only trying to attract other individuals interest, in which we need to be careful as well.

Janation

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Doesn't mean you use this strategy means it will always be as successful as the other assets.

Candlestick is been used by a lot of traders and it will not always give you a profit since it is not a 100% profit-strategy since we all know this is just a strategy that gives you indications, movements of the price of assets you are investing in. Those charts are just based on the changes that happened, you can't blame it. Cryptocurrencies are naturally volatile, you should always expect a worse outcome.

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Quote from: ultrloa on February 29, 2020, 04:10:26 AM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Nope actually we are not tired to read it since by reading it we can get an idea on where does the events turn on crypto in some instance but you shouldn't expect that you will get a accurate analysis from it since sometimes it doesn't give you what you want in quick instance.

But don't ever think that its a trash since many people learn on how to trade from reading it.

I consider this to be a very important document before deciding to invest because you may not always know exactly what is happening in this market. Everyday I always analyze or consult some opinions of others to trade because this is the best way to reduce risks. For me, chart knowledge is never junk and you should take the time to study instead of whining.

davis196

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Perhaps the article authors are going a bad job interpreting those charts.That doesn't mean that the charts are shit,just the article authors(who in most cases aren't experts in technical analysis) usually suck.
You are right that the crypto charts have little to do with the stock charts,but that doesn't make them a useless instrument for market analysis.Can you refer to some low quality chart analysis articles that you don't agree with?

beerlover

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Quote from: exstasie on February 29, 2020, 12:15:15 AM

"Not candle based?" What does that mean? Candlesticks can be applied to any price chart, any instrument. They just track the open, low, high, and close.

Probably he is referring that candle stick pattern recolonization is not working for crypto trading. I also have felt like that. It is like when"doji" appears, we may expect a reversal of market trend but market may continue its current trend. It is possible for any market where whales are shaking directions on their own preferences. Even crypto markets are having enough volume, it is not big enough to withstand against few individual/group of people's manipulation.

All the markets which are getting manipulated time to time, may turn as an exception for technical analysis. Technical analysis work perfect with enormous volume; enormous volume is needed for ensuring withstanding against manipulation.

ultrloa

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Nope actually we are not tired to read it since by reading it we can get an idea on where does the events turn on crypto in some instance but you shouldn't expect that you will get a accurate analysis from it since sometimes it doesn't give you what you want in quick instance.

But don't ever think that its a trash since many people learn on how to trade from reading it.

sheenshane

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How could I vote the poll if the choices are the same? Angry

Crypto chart reading or having Technical Analysis(TA) through reading a chart is wont to give an accurate result in actual price results in crypto. It is very helpful for traders to give a forecast price movement based on the previous price. It is good to predict if you have references in trading, otherwise predicting the market movement without using this is might be boring.

Targeting profit through candlestick pattern might having beneficial to traders, I didn't consider this tool as bullshit and no use in trading.

xSkylarx

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Quote from: Findingnemo on February 29, 2020, 12:49:41 AM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Technical analysis don't give you 100% assurance on price movement because crypto prices are highly volatile and often goes with manipulation by whales so it will not follow the price charts always but when the market is in sideway for too long then your TA can help you to make more profits.

Some people rely on technical analysis because it serves as their guide in investing and we can't blame them for their belief. Most of us don't rely on technical analysis but it doesn't mean that it's just a piece of trash because we all rely on our comfort zone. The market is volatile and unpredictable so there's really no guarantee that charts are 100% accurate and it's just for us if we'll deal with it.

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Quote from: The Cryptovator on February 29, 2020, 01:30:30 AM

Chart itself can't effect on the price of coin, but it helps analyzers get an idea how would move future.

Agree. The chart just helps traders to consider what they are better to do in the near future. It doesn't determine that someone can success to reach their target in profits. Everything depends on the trader itself. Traders can use the chart as one of the sources to make their decision but never relies on the chart. Remember that the chart is only about the current history of crypto price moves and the prediction of the next moves. It can change anytime!

Rosilito

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Quote from: rodskee on February 29, 2020, 01:26:10 AM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Yeah more than 2 years account and just logged in to post this hatred for Technical Analysis this sounds great 😅 are a failed trader mate?why seems very angry about the charts and gave us choices with same answer ?anyway if you really knew how to read charts you will not be posting like this instead you will share your own analysis here

Probably, mate. He/she may be want to express his/her anger here. Felt sorry for you, man above. Charts are charts though it is quite significant for traders but you do not have to be totally dependent on it, you have to look on something else, and decide solely on your own analysis. Get better, man. There are many traders out there who look on the charts as well, and then probably might failed like you but moved on and did keep getting better. Build your own strategies man so you'll never be (might be) dependent on charts alone.

Sadlife

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Indeed crypto charts are much more unpredictable because of its unstable nature and tend to go wild swings in just a matter of hours. The regular trading strategy in stocks might not be compatible to crypto. So that's why many traders loss while others already adapted and has indicators and strategy of their own.

The Cryptovator

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Chart itself can't effect on the price of coin, but it helps analyzers get an idea how would move future. During live trades sometimes traders also follow chart trends. Everyone have different strategy for trading, we can't say others are wrong if they follow chart candles. For me, I see chart candle for previous prices. When price was bumped and pumped, what was ATH and what was monthly ATH etc. So I won't say chart is garbage at all. If it's not helpful for you then likely you don't know proper use for it. Perhaps it's helpful for lot of other people.

rodskee

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Yeah more than 2 years account and just logged in to post this hatred for Technical Analysis this sounds great 😅 are a failed trader mate?why seems very angry about the charts and gave us choices with same answer ?anyway if you really knew how to read charts you will not be posting like this instead you will share your own analysis here

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Quote from: Findingnemo on February 29, 2020, 12:49:41 AM

Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Technical analysis don't give you 100% assurance on price movement because crypto prices are highly volatile and often goes with manipulation by whales so it will not follow the price charts always but when the market is in sideway for too long then your TA can help you to make more profits.

Crypto price prediction never works. Bull market or bear market strategy do not work. It only helps to minimize your losses. I personally do not consider them 100 percent viable way to analyse the market. You need to consider other aspects such as news.

Findingnemo

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

Technical analysis don't give you 100% assurance on price movement because crypto prices are highly volatile and often goes with manipulation by whales so it will not follow the price charts always but when the market is in sideway for too long then your TA can help you to make more profits.

joniboini

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While it's true that the rate of success of technical analysis is lower on crypto, it doesn't mean you can ignore it. One of the obvious reasons is that a lot of traders also use that, so it creates a 'self-fulfilling prophecy' culture such as with the fibo sequence.

10 years on your back should be enough for you to tell that TA is just probabilities. Even if a chart has a 90% success ratio, you can still fuck it up.

harizen

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

You have to consider other factors as well to act as your references instead of relying purely on charts. Crypto is volatile and in just a glimpse, it might rise or crash.

Chart indicators will tell you what should you do base on the given trend, price action within a given timeframe, "possible" and "expected" things to happen and so on. If you have been in stocks for 10 years you should at least know how to differentiate using charts to crypto and stocks.

How long are you here in crypto? It's fine if you are currently having difficulty applying analysis base on the chart. You will be used to it soon. You already have knowledge about trading indicators so that's already an advantage. Adjusting how to deal with the crypto market shouldn't be a problem for you.

exstasie

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Quote from: prussg on February 28, 2020, 10:04:24 AM

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.

"Not candle based?" What does that mean? Candlesticks can be applied to any price chart, any instrument. They just track the open, low, high, and close.

Are you saying TA doesn't work on crypto?

prussg

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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.

Topic: Crypto Charts Are Garbage (Read 419 times)