Topic: How important technical indicators are in cryptocurrencies volatile market? - page 2. (Read 201 times)
April 14, 2018, 01:05:29 PM
Technical indicators are my compass, even as a Forex Trader. Relying solely on them in the crypto market has also been awesome for me. Though I must acknowledge that the crypto market dwells more on fundamentals than TA due to its ever present volatile FOMO and FUD. Any slight news makes a mess of TA in cryptocurrency.
April 14, 2018, 12:42:07 PM
What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )
I don't at all think technical indicators help in the cryptocurrency markets. The reason you see people saying that they predicted the price at a certain time is because there are thousands, if not millions, of people making their predictions about what the price should be in the future by using charts and graphs. If there's such a high volume of people creating their predictions, there's bound to be some chance that one of the predictions actually lines up with what happens. So, what you end up with is a load of graphs and technical foreshadowing about what the price will be in the future. If you "choose the right one" you might be able to make money, but what are your chances of making money off of one out of a million predictions?
This is just my personal qualm with technical indicators. Maybe it works for others, but it hasn't worked out for me.
Okay you got my eye! This is what I think about the crypto indicators or the technical indicator itself. I mean I never trust these signals because they are just made up one and with every graph the whole future changes a lot. Many people apply different theories in the first place and end up with some random results with heir signal. There is no math embedded in it as such and thus it makes it unrealistic data and can not rely on it completely. Take example of many signals published in those telegram channels, they really suck. If you enrol into two different channel and see the predictions for same coin then they will be different one. So thats what tell us it doesnt really work.
April 14, 2018, 12:32:56 PM
i do not see any significant use of those thing so called 'Technical Analysis' when the market goes craze like today.
i made and saw many Technical Analysis from different perspective but none of them could explain the market.
everything is out of control because Bitcoin price get manipulated by people.
that is why we will not see anything on Technical Analysis,logically if everything is well explained on Technical Analysis.
everybody will get profit right ?
i made and saw many Technical Analysis from different perspective but none of them could explain the market.
everything is out of control because Bitcoin price get manipulated by people.
that is why we will not see anything on Technical Analysis,logically if everything is well explained on Technical Analysis.
everybody will get profit right ?
April 14, 2018, 12:27:48 PM
What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )
I don't at all think technical indicators help in the cryptocurrency markets. The reason you see people saying that they predicted the price at a certain time is because there are thousands, if not millions, of people making their predictions about what the price should be in the future by using charts and graphs. If there's such a high volume of people creating their predictions, there's bound to be some chance that one of the predictions actually lines up with what happens. So, what you end up with is a load of graphs and technical foreshadowing about what the price will be in the future. If you "choose the right one" you might be able to make money, but what are your chances of making money off of one out of a million predictions?
This is just my personal qualm with technical indicators. Maybe it works for others, but it hasn't worked out for me.
April 14, 2018, 12:17:07 PM
Technical indicators help some of the time as they can at least still give you some direction or what to expect, but that does not mean you should rely totally on them, which means you are still left to use your discretion as a trader when things decide to go the other way.
For instance, we have seen bullish divergence on MACD ending bearish and vice versa. Also, if we were to judge based by the books, the recent formation on btc before the triangle breakout should not have turned bullish but it did anyway. That is how it is and we just have to blend with the trend even with the indicators most of the time, if you know what I mean.
For instance, we have seen bullish divergence on MACD ending bearish and vice versa. Also, if we were to judge based by the books, the recent formation on btc before the triangle breakout should not have turned bullish but it did anyway. That is how it is and we just have to blend with the trend even with the indicators most of the time, if you know what I mean.
April 14, 2018, 11:24:05 AM
What are your thoughts on the technical indicators and their utility in such a volatile market of cryptocurrencies. ( open to discussion )
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