Is it worth using the technical indicators in the cryptocurrency market?

naidray

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Quote from: harastvo on April 27, 2018, 11:25:37 AM

what do u think about the usability of technical indicators in the cryptocurrency market?

It helps during very short term trading. If you are going to buy something and than sell it right back again in couple hours at most than technical indicators are the way to go but if you are planning on investing even longer than 24 hours than it becomes worthless because crypto world is not depended on the indicators there are always something that happens out of the norm.

Sometimes a whale buys a lot of stuff, sometimes some exchanges delist some coins, sometimes there is "hacking" going on with an exchange, sometimes mtgox trustee sells coins at once and all that news. If something like that happens than all of your indicators are wrong and they will not help you, sometimes that news or the thing happened will help you sometimes it will hurt you but in the long run it is crazy and you should not depend on it.

If you want to use indicators you must trade quickly or it might not be really good for you in the end.

Nurshazwani

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Technical indicators are useful but it does not guarantee a good result as it is a volatile and sensitive to secondary activity.
Consider to your own circumstances, and obtain your own advice, before you rely on this information. Also, verify the nature of any product and service and consult the regulator website before you make any decision.

richcorner100

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Technical analysis is basic of trading and all trader should have knowledge about it, this TA make more easy to predict the support and resistance of the price, and when we know where is the support and resistance will be make more easy to decide when to buy and sell. In all kind of trading, TA is not fully worth but this is very helpfull to predict trend of the price.

chamika888

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Basic indicators are incredibly helpful. Trend lines, Fractals, RSI, Stochastics, MACD, and Simple and Exponential Moving Averages are some basic ways gauge resistance/support, momentem, and price direction.

lavishlifing

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Of course, as a trader I have been using technical indicators, the main reason
why I use technical indicators is a reinforcement to my analysis.

gabmen

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Quote from: shesheboy on September 10, 2018, 12:53:41 AM

Quote from: Bitkoyns on September 10, 2018, 12:13:41 AM

technical analysis helps a lot in terms of doing trading I got a friend who help people who wants to trade and with his ability to do some technical analysis his trading works so it helps a lot.

yes analysis do somehow aids us to do trading ( whether it is technical or not ) but analysis alone cant bring you a sustainable profit due to the reasons that cryptos are totally unpredictable which means there is still a posibility that the movement of the coin will reverse or wont go in a right direction as stated on your analysis . if you are unlucky , you can still experience to loose no matter how many analysis you do .

Well practicing t.a can help you get a better grip of how the market moves since it'll require a lot of study of different market situations. It helps but ultimately, with a market as unstable as crypto, itks not as accurate as those of stocks and forex t.as

michellee

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technical analysis can help us to determine where the price wants to go but this will not work if there are any other news that will make traders become panic sell or panic buy. but like the other analysis, if we can learn this analysis, I think we can get something on the market and we can make a decision to enter with the market or just watching longer to see another sign. personally, I am not too familiar with the technical analysis but I think it helps me to make analyzing the coins so I can predict where the coins move although I know that it will work 100%.

shesheboy

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Quote from: Bitkoyns on September 10, 2018, 12:13:41 AM

technical analysis helps a lot in terms of doing trading I got a friend who help people who wants to trade and with his ability to do some technical analysis his trading works so it helps a lot.

yes analysis do somehow aids us to do trading ( whether it is technical or not ) but analysis alone cant bring you a sustainable profit due to the reasons that cryptos are totally unpredictable which means there is still a posibility that the movement of the coin will reverse or wont go in a right direction as stated on your analysis . if you are unlucky , you can still experience to loose no matter how many analysis you do .

Bitkoyns

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technical analysis helps a lot in terms of doing trading I got a friend who help people who wants to trade and with his ability to do some technical analysis his trading works so it helps a lot.

tanzaholzmann

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I use technical indicators in the market to add predictions of price movements of cryptocurrency assets in the market, maybe that's all.

befriendmywater

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Quote from: harastvo on April 27, 2018, 11:25:37 AM

Hi, in this topic I would like to discuss the usability of technical indicators in the cryptocurrency market! So, Let's start!
Indicators were developed by financiers for traditional markets. Over time, key indicators spread to most markets, where they also showed their applicability. In this way, thanks to the proven versatility, they were on the crypto currency market. The cryptocurrency market as a whole differs from traditional ones a little. Mainly because its participants are the same or at least the same people as those who trade on the traditional. The thinking of the traders is the same, the methods of responding to the market situation - too, so the assets on both cryptomarket and traditional behave more or less the same. And that's why the technical analysis and its key indicators in particular are successfully applied on cryptomarket.
So, what do u think about the usability of technical indicators in the cryptocurrency market?

I think technical analysis is very necessary for the Crypto market. Because you can not price these technology businesses because they do not have any reports about the annual report. So we need technical analysis to make a profit when investing.

flowers5

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I would use them if I was comfortable and have traded with them in the past. I usually use the RSI with Candle charts and thats it. The rest I go by feel and use some AI bots for short term indicators to give me one more thing to take into account.

crptotrader007

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Sometimes it is but still you can't follow them blindly.

KuromaYoichi

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It is working and you can also use it un crypto, at least to help you find out then to sell or buy, identity the support and resistance zone. Although sometimes the price in crypto moves very wild because of the pumps and dumps but you can trust the technical indicator most of the time.

LogitechMouse

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In some points, technical indicators are worth to use it but on the other hand, technical indicators are not like a tool for success in trading. These are used for basis only especially in trading. I have used some indicators when I'm trading. There are times that I got profit using it but there are times that I got lost because of using indicators and at the same time, lack of patience.

Its worth it indeed because it can help you in trading. Using some indicators will help you predict your next move in trading.

noah tall

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Quote from: Airbuxf on August 31, 2018, 06:12:33 AM

I never used technical indicators for trading. Maybe because I'm more concentrated on long term investment than day to day trading. Research and strategy are my ways to go.

A lot of people have never been so fond of technical indicators because they lag anyway and you will need to be able to mix them with some other things so as to be able to make the best decision.
One thing with this market which I and everyone know is that, it is highly volatile and sometimes, it is always better to even have a clear chart and a clear mind, knowing what to do when trading it. I prefer clean charts which is why I am more into the candlestick pattern and price action to make decisions in the market.

MalcolmBee

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The hypothesis is that technical indicators are untested in this market, and as a result, analysts and traders may or may not be applying them properly. We set out to find out whether or not certain technical indicators have any value in predicting any upside or downside performance.

noah tall

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Quote from: doanlang on August 29, 2018, 05:25:17 AM

The useful indicators of technical analysis are important to know the market conditions in rising or falling. Although technical analysis is not entirely correct, it also helps to decide when it is best to buy and sell.

Apart from those who may prefer a clean chart with just price action and candlesticks pattern to trade, virtually higher percentage of traders make use of indicators.
The only issue I have ever had with indicators is that they can be pretty much lagging, but at the same time, they still help you when making certain decisions in the market as they help you know the possible change in trend of the market, and that can help you see all you need to know to make the right decisions.

adaseb

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Technical indicators are never 100% accurate. Even the best indicators maybe are correct 25-33% of the time at best during certain conditions.

Its impossible to get every trade correct, especially when there is alot of influence such as news that the charts don't take into account.

For example even in the stock trading world the TA can fail for example like it did with Facebook (FB). Most indicators were bullish but it had a huge drop one day because of bad earnings, something that would of been very difficult to predict unless you had insider info and you would of lost money trading with basic TA.

You need to use TA with a good risk/reward scenario and try and leave emotions out of it. Its basically best to be a bull in a bull market and bear in a bear market and not countertrend trade.

Fredomago

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Quote from: robertsu on September 01, 2018, 11:40:13 PM

I not sure that there are people who doing a trade the same way. But, in my experience, I saw only a few who used something like a moving averages

Only those who fully understand the system can work with this idea, most of the time inside crypto fuds and news are moving the value, not even the
indicators and past charts movements can be a strong basis of buying an assets, there's no clear path as manipulations really exist and dominating the
market, but in some other aspects we can also use indicators to give some ideas of possibilities that the next move will be favoring our assessment.

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