Topic: Did bitcoin has trading signals and indictors like forex? (Read 240 times)

I don't think there is any correlation between bitcoin and forex. The two are different things.

Since they were all different investment assets you can expect gold and bitcoin together with any other asset has thesame indicators,  their mode of engagement is also quite different, since am not interested in other form of asset than bitcoin, what we make use is our personal study, resea and findings and you get this from different means, you can also sit to study the chart flow and understand the parameters, the weekly candles as well as past event on bitcoin history.


They have different signals and each of them in independent of each other for their price.


Some make use of social media tracking apps to get notified about any time about every ongoing situation, this is what the forex traders uses.

I don't think there is any correlation between bitcoin and forex. The two are different things.

In some cases we can find some similarities between bitcoin trading and Forex trading but in the case signal and indicators I think bitoin ans forex trading has their different way. So if you wanna invest in bitcoin then you have to study for it to know the signals and indicators. Because bitcoin is highly volatile from forex trading in some cases. So the answer for your question is yes there is differences on bitcoin signals and indicators.

Forex and Bitcoin trading has their own signals and trading strategies. It is better to use their respective one. Bitcoin signals aren't available that widely, because people don't want you to get ahead of themselves. But it is possible to make one, but that will require some advance programming knowledge. Use your analysis knowledge and ask a programmer to turn that into code and create a bot which will give you entry and exit points.
There are some available, but I won't recommend them. Free things are always sketchy.

You need to understand that Bitcoin is quite different from the way we trade the forex market but there is a comparison between the both. In Bitcoin you can trade the market using technical analysis but the market is mostly based on the law of demand and supply. If you understand more about the law of demand and supply then you will have pior understanding about what I meant.

In forex market, we can trade the market mostly based on the news which is the time when liquidity mostly happens in the forex market.
You can buy signals and use to trade the market without having to go study multiple charts especially when the signal is prior to accuracy. The is signal too in the crypto market but are based on mostly pump and dump.

For me specifically, that while there may be some similarities between forex and bitcoin trading, it's important to keep in mind that they are ultimately different markets with different factors affecting their price movements.

Then, while you could potentially use some of the same technical analysis indicators on both markets, you may also need to consider additional indicators or signals specific to bitcoin trading.

Important, also worth noting that the lack of available apps for bitcoin trading signals may be due to the fact that it's still a relatively new and evolving market compared to forex.

Similar to the foreign exchange market, there are some common trading signals and indicators in the Bitcoin market that can help investors make more informed decisions. Here are some common Bitcoin trading signals and indicators:

Moving Averages: Moving averages are a common technical analysis tool used to determine the direction of price trends. In the Bitcoin market, common moving averages include Simple Moving Averages (SMA) and Exponential Moving Averages (EMA). These averages can help investors determine the direction of the trend and identify potential buying or selling opportunities.

Relative Strength Index (RSI): RSI is an indicator used to measure price momentum. It can help investors determine whether the market is overbought or oversold and identify potential reversal points.

Bollinger Bands: Bollinger Bands are an indicator used to measure price volatility. It includes three lines, including a centerline and two standard deviation lines. Bollinger Bands can help investors determine the upper and lower limits of the price and identify potential buying or selling opportunities.

Volume Indicator: Volume indicators can help investors determine the strength of the market. High volume typically indicates a strengthening market trend, while low volume may be a signal of a market reversal.

There are platforms and brokers that have both crypto and Forex pairs now. In the recent past it wasn't possible. Innovation has proved consistently that change is a necessity for growth and advancement. In fact, in 2017 when I joined the crypto business one could only trade cryptos as a Spot. The Futures option wasn't there. It was enter one sold Bitcoin for altcoins or exchanged it for fiat at once. There was no stablecoin to sell into. It was just a one-way traffic then to make profit. One could only buy and hodl, then wait for price to appreciate to sell off. It's different today as anyone can sell without even buying, just like what we've in Forex trading.

Talking about indicators, one can trade cryptos using the same indicators one trades forex with. It's just a matter of backtesting them to know which works well and with what parameters to set them to.

They are same technical analysis that will be used to expressed all but what really happened is that in forex it doesn't function as crypto although we can use same principles and practice to apply in crypto, any one who knows how to trade on forex very well can as much handles cryptocurrency pretty much fine because he would apply those knowledge and experience to bitcoin trading.

Forex trading partially different from crypto since they have days of trading for instance, trading Usd again Euro or any others currency.
In crypto it doesn't function that way, it solely depends on news either to be positive or negative, whenever the positive come you may see strong Green in the market same as negative news which affect the market negatively causing serious panic in the market.

I had tried both forex trading and crypto trading each signal are different from each other, forex pairs are less volatile you can open position at a very good price infact when price retrace a trader can enter a trade with just a small drawdown and ended up with a very good profit, however in crypto trading trading once you miss any chance of entry the price would have pump or dump massively thus making an entry very risky because an inexperience trader might have entered a trade when the price had hit a support or resistance and started retracing due to high volatility thus incur losses

The comparison of the analysis between forex trading signals and Bitcoin is quite different because of the volatility factor. It is best advisable to logical and analytical in your market illustration when trading forex as most people believe me that manipulation sets in at one point or the other which can be sometimes unavoidable. You set your “take profit” and “stop loss” while trading forex especially in order to avoid loosing your funds in your account and to be on the safer side. Bitcoin involves understanding the highs and lows point in the market situation, especially now that the price of Bitcoin has fallen to the bearest minimum which a lot of people has predicted already in the past, we only need to build ourselves by understanding the analysis of the market prices/situations, the more you understand how the market works in crypto, the better your level of confidence.  “YOU are the best teacher to yourself”.

Whether you are trading forex, crypto or stocks. You can use the same technical analysis. Whether it actually works to make you money is another question.

Largest difference between forex and crypto is that crypto usually has larger moves than forex. With forex you can perhaps make 50-75pips on a good day which isn’t much in percentage terms. With crypto it’s not unusual to get 5% daily moves.

As far as I know, all technical indicators, be the basic one to advance is the same across all markets. However, the price movement might not be the same, i.e. Bitcoin market is very volatile as compare to any other out there like Forex.

So most likely, you will have to make a "wild and educated" guess of your own in both market.

And if you are looking for like a stable source of income, both can be used, but it will be very difficult.

Well you can get free trading signals in Bitcoin in https://www.tradingview.com/symbols/BTCUSD/?exchange=CRYPTO

Even the forex signals you talk about are not really that accurate, so is it really important for Bitcoin trading? Nop. Perhaps signals are generated with trading tools like indicators, so if you are trading your Bitcoin on any platform, the indicators are still there to apply and get the signal of which direction the market is expected to go.

If Bitcoin trading was completely different, then we would be having any technical analysis tools and indicators similar to those of forex trading in trading view. One thing for sure is that no tool is 100% perfect in predicting the market right every single time! At least not available publically.

You can also create your own "signals" using the available tools and technical indicators

Beware of fake signals apps, malware, scammers and pump and dump groups.

Forex, Bitcoin, bullion, Uncle Sam's currency - it's like a perpetual round of "One of These Kids is Doing Their Own Thing!" Yet, amidst the contrasts, some parallels thread through these distinct markets. Take trading, for instance, a rollercoaster of thrills (or chills, based on your vibe). Plus, signals and indicators abound, guiding you toward well-versed trade choices.

But Bitcoin? The plot thickens. Even though Forex outnumbers Bitcoin in app and tool availability, that doesn't mean Bitcoin trading lacks signals and indicators to steer through the wild, untamed market. Heck, I've concocted my very own covert Bitcoin trading signals, dubbed "the Blockchain Boogie." Picture plenty of expressive moves and incantations - bizarre, I know, but it's a winner.

Naturally, the Blockchain Boogie isn't everyone's forte. That's why it's crucial to stay receptive and scout out a spectrum of tools and resources to pinpoint the ones that gel with you. Whether it's classic technical analysis or offbeat approaches like dance and melody, no single "correct" method exists for Bitcoin trading.

Yes, Bitcoin has trading signals and indicators just like forex. Some popular technical indicators used in bitcoin trading include moving averages, MACD, RSI, and Bollinger Bands, among others. Traders can also use various chart patterns and candlestick analysis to make informed trading decisions.

However, it's important to note that technical analysis alone may not always be reliable in the highly volatile cryptocurrency market.

Yes, Bitcoin trading also works the same way for traders like forex, but the volatility of the Bitcoin and crypto market is highly unpredictable and due to that sometimes the indicators might not work the way they are intended to work. The technical indicators work the same way, and if implemented with a good strategy, and proper trading plan, than the results will be positive.

No matter Bitcoin or Forex you should not rely on those signals that the apps give you. Most of those signals won't work, and you might lose your capital by following such baseless signals. It's always better to learn trading yourself rather than relying on the signals shared by someone whom you don't even know. And, if you lose your capital by following those signals, that won't cost them a penny, and they will still be making money from the ads on their apps.

The answer is no. It's just because their volatility isn't the same. So we predict that if your analysis in one specific trading pair is functioning, the other pair is not and will occasionally reach your SL. Aside from that, each trading pair has unique market behavior. As a result, when comparing the two charts, their price action is not the same.

So it is reasonable to always back test the trading pair if it is your first time to make your analysis working.