do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
Yes its no ordinary asset like forex and stocks but the main difference is its volatility. Bitcoin is highly volatile compared to forex and stocks that needs a couple of months to double the money invested. Unlike in bitcoin it may take only a week for trading. News have greater impact to bitcoin but the goods news here is that many people starting to invest in bitcoin and let say this people is loyal though there is a scary news that will doomed the bitcoin. Then the price would go down not as down that it would not have value. That's why you need technical analysis, the example I mentioned earlier is a kind of opportunity that a beginner wouldn't notice. 
Topic: Technical analysis on btc or better just rely on fundamentals and news? (Read 708 times)
October 18, 2017, 06:40:51 AM
October 18, 2017, 06:23:10 AM
I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.
I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
Really? Which cryptos have you looked at? I mostly just look at bitcoin, for which TA seems to work pretty well. MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well. Support/resistance breaks commonly lead to a rush to the next level. Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect. The same was true on the way down to $3000. The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern. It was a little sloppy, but it was there. I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument. Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading. I do not know if Im not able to adopt to crypto charts or I need to view the charts differently. I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart?
For trading purposes I think it's important to look only at the major ones. The lesser/no-name ones that pump-pop-and-die don't really follow much in the way of predictable TA patterns. I've pretty much just kept an eye on bitcoin.
I would also note that I'm not a huge trader, in part because I don't have time to watch the charts continuously. But I have taken a few successful intra-day bitcoin trades (without losers), and I watch for MACD-price divergences a lot, and they look like they indicate directional exhaustion pretty well.
Trading is a great option of making money with digital currencies but for that you need sound knowledge and good market analysis. Crypto trading is better than stock one.
October 15, 2017, 10:59:45 AM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
Yes in trading you really need technical anlysis. You can never gain big profit if you buy and sell without any analization. In trading you should consider the price you should know when to buy and when to sell so that you can gain big profit. October 15, 2017, 06:07:21 AM
I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.
I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
Really? Which cryptos have you looked at? I mostly just look at bitcoin, for which TA seems to work pretty well. MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well. Support/resistance breaks commonly lead to a rush to the next level. Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect. The same was true on the way down to $3000. The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern. It was a little sloppy, but it was there. I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument. Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading. I do not know if Im not able to adopt to crypto charts or I need to view the charts differently. I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart?
For trading purposes I think it's important to look only at the major ones. The lesser/no-name ones that pump-pop-and-die don't really follow much in the way of predictable TA patterns. I've pretty much just kept an eye on bitcoin.
I would also note that I'm not a huge trader, in part because I don't have time to watch the charts continuously. But I have taken a few successful intra-day bitcoin trades (without losers), and I watch for MACD-price divergences a lot, and they look like they indicate directional exhaustion pretty well.
October 13, 2017, 08:09:58 PM
I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.
I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
Really? Which cryptos have you looked at? I mostly just look at bitcoin, for which TA seems to work pretty well. MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well. Support/resistance breaks commonly lead to a rush to the next level. Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect. The same was true on the way down to $3000. The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern. It was a little sloppy, but it was there. I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument. Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading. I do not know if Im not able to adopt to crypto charts or I need to view the charts differently. I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart?
For trading purposes I think it's important to look only at the major ones. The lesser/no-name ones that pump-pop-and-die don't really follow much in the way of predictable TA patterns. I've pretty much just kept an eye on bitcoin.
I would also note that I'm not a huge trader, in part because I don't have time to watch the charts continuously. But I have taken a few successful intra-day bitcoin trades (without losers), and I watch for MACD-price divergences a lot, and they look like they indicate directional exhaustion pretty well.
October 12, 2017, 11:29:08 PM
I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.
I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
Really? Which cryptos have you looked at? I mostly just look at bitcoin, for which TA seems to work pretty well. MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well. Support/resistance breaks commonly lead to a rush to the next level. Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect. The same was true on the way down to $3000. The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern. It was a little sloppy, but it was there. I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument. Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading. I do not know if Im not able to adopt to crypto charts or I need to view the charts differently. I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart?
For trading purposes I think it's important to look only at the major ones. The lesser/no-name ones that pump-pop-and-die don't really follow much in the way of predictable TA patterns. I've pretty much just kept an eye on bitcoin.
I would also note that I'm not a huge trader, in part because I don't have time to watch the charts continuously. But I have taken a few successful intra-day bitcoin trades (without losers), and I watch for MACD-price divergences a lot, and they look like they indicate directional exhaustion pretty well.
October 12, 2017, 10:41:21 PM
Bitcoin are far more different from other crypto currencies, in my own opinion technical and/or fundamentals analysis are no longer necessary.
News can make big impact on the value of Bitcoin.
News can make big impact on the value of Bitcoin.
October 12, 2017, 09:45:06 PM
I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.
I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
Really? Which cryptos have you looked at? I mostly just look at bitcoin, for which TA seems to work pretty well. MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well. Support/resistance breaks commonly lead to a rush to the next level. Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect. The same was true on the way down to $3000. The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern. It was a little sloppy, but it was there. I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument. Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100.I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
I usually check the coins that are I think are profitable. I know I am no expert in crypto currency trading and I consider my self in a new territory in crypto trading. I do not know if Im not able to adopt to crypto charts or I need to view the charts differently. I usually view my charts in weeks and months since that is my style in stocks. What timeframe you usually view your chart?
October 12, 2017, 03:56:50 PM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
I go for both but to quantify them the ratio would be 70% technical analysis and 30% fundamental analysis, but for alternatives coins 80% would be fundamental analysis and 20% for technical analysis as altcoins are highly volatile ang its price is driven mostly by pump and dumpers, medias, current news or events and whales manipulation. Just my cents as a trader, whats yours? 
October 12, 2017, 03:58:25 AM
Both are required for having a good sight in trading, you need to do some fundamental analysis for your first estimation in the market and second is the technical analysis for some confirmation or verification that the coin is a good to buy or sell.
October 12, 2017, 03:23:30 AM
A trader to be specific should not rely just one thing to trade on the particular asset. As you say Bitcoin is no ordinary asset, it derives various things for it to be analyzed. There are multiple things that can be used to analyze Bitcoin and they should all be used in order to predict accurate results.
So whether it be technical or fundamental analysis, use everything for better outcome.
Use any sources available on us. Having btc now and knowledge in coins and in trading can help us more in earning. We should be updatwd still in news and graphs record. So whether it be technical or fundamental analysis, use everything for better outcome.
October 12, 2017, 03:00:17 AM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
I go for both but to quantify them the ratio would be 70% technical analysis and 30% fundamental analysis, but for alternatives coins 80% would be fundamental analysis and 20% for technical analysis as altcoins are highly volatile ang its price is driven mostly by pump and dumpers, medias, current news or events and whales manipulation. Just my cents as a trader, whats yours? 
October 12, 2017, 02:44:31 AM
A trader to be specific should not rely just one thing to trade on the particular asset. As you say Bitcoin is no ordinary asset, it derives various things for it to be analyzed. There are multiple things that can be used to analyze Bitcoin and they should all be used in order to predict accurate results.
So whether it be technical or fundamental analysis, use everything for better outcome.
So whether it be technical or fundamental analysis, use everything for better outcome.
October 12, 2017, 01:43:23 AM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
The bitcoin is still in its beginnings,and the market is still very volatile so doing technical analysis is not recommended,
especially in long term trading.You could maybe earn some profits doing daily tradings,but for that,you should really know your stuff.
Currently it's much more preferable following news and updates as this still affects the price direction mostly.
October 12, 2017, 12:56:55 AM
You should be able to get by with fundamentals. The price of cryptocurrencies are ridiculously volatile and are, for the most part, only dictated by supply and demand with no regards to a certain company's performance, unlike stocks. Buy dips, and wait for a rally.
October 12, 2017, 12:56:36 AM
I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.
I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
Really? Which cryptos have you looked at? I mostly just look at bitcoin, for which TA seems to work pretty well. MACD-price divergences on a high enough time frame (hours) seem to indicate at least short-term reversals pretty well. Support/resistance breaks commonly lead to a rush to the next level. Like when we recently broke through resistance around $4500, price quickly shot up to almost $5000, as one would expect. The same was true on the way down to $3000. The initial run up to $5000 and subsequent drop formed a head-and-shoulders pattern. It was a little sloppy, but it was there. I'm not sure how well fibs and elliot waves work, but I'm not big on using those for any financial instrument. Although I did find some use in fib extensions when trying to determine where price might stop or at least pause after it broke out above the previous high around $1100. I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
October 12, 2017, 12:18:52 AM
I have been trading in stocks for a while now and to be honest i'm just a few months old crypto tradee but what i have noticed is technical analysis most of the time do not work in cryptocurrency trading. Fibonacci does not work. MACD, RSI, MFI, and Ichimoku do not work either. It's also hard to see chart patterns like elliot wave, head and shoulders etc. The crypto market is very volatile which has pros and cons.
I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
I usually just use support and resistance along with moving averages in my cryptocurency chart.
Relying in news is always great for a short period of time. Remember the China and Dimon news the market dipped for a few days and it is always a good opportunity to buy on price dips.
October 11, 2017, 07:37:35 PM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
I think as you gain experienced, you need TA as well to see how the news will back up the analysis. I have seen numerous prediction by good market analysis and some of them was spot on with their prediction. But it was backup with a lot of TA. I'm not that well versed on TA though, I just read members here who are very technical in terms of how they predict the price movement. Of course bitcoin is based on speculation but its good if the prediction and news will somewhat meet in the middle. So as traders, we need both of them.
October 11, 2017, 06:54:38 PM
Rarely use technical. Because i'm not doing day trading (day trading use technical, right?), i prefer buy then keep for some time. And i sure many people like me so maybe that's why people are much more influenced by fundamental (news, rumor)
They are both are works technical analysis and fundamentals and news this is base in what i experience before bitcoin is not really well known it will be hard to see the movement of the price last 2014 to 2015 only technical analysis that we can use.. but after this 2015 the news was starting rising about bitcoin that can gives you idea that bitcoin could be increase more in the future until now that news can gives you signal to know if the price of bitcoin could be price down or increase.. and that news seem to have a higher impact on btc than candlestick formations or so..
So both of them are actually needed the same what other people think.. but most of traders doing is technical analysis if you wanted really to know if how long the price will increase or decrease..
yeah i know technical is good to know how much you must use your money for maximize the profit
however some people prefer safe way doing long term and don't care about daily chart
October 11, 2017, 06:49:16 PM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
I think as you gain experienced, you need TA as well to see how the news will back up the analysis. I have seen numerous prediction by good market analysis and some of them was spot on with their prediction. But it was backup with a lot of TA. I'm not that well versed on TA though, I just read members here who are very technical in terms of how they predict the price movement. Of course bitcoin is based on speculation but its good if the prediction and news will somewhat meet in the middle. So as traders, we need both of them.
October 11, 2017, 06:18:28 PM
Rarely use technical. Because i'm not doing day trading (day trading use technical, right?), i prefer buy then keep for some time. And i sure many people like me so maybe that's why people are much more influenced by fundamental (news, rumor)
They are both are works technical analysis and fundamentals and news this is base in what i experience before bitcoin is not really well known it will be hard to see the movement of the price last 2014 to 2015 only technical analysis that we can use.. but after this 2015 the news was starting rising about bitcoin that can gives you idea that bitcoin could be increase more in the future until now that news can gives you signal to know if the price of bitcoin could be price down or increase.. and that news seem to have a higher impact on btc than candlestick formations or so..
So both of them are actually needed the same what other people think.. but most of traders doing is technical analysis if you wanted really to know if how long the price will increase or decrease..
October 11, 2017, 05:19:33 PM
From my observations, technical analysis works pretty well with bitcoin, as it should with any auction-style financial market. The basic principles of bitcoin trading are the same as trading anything else like stocks, futures, etc. That said, news and fundamentals should not be ignored. The way I see it, news and fundamentals determine the long-term trend, while technicals drive the the price on a short-term (e.g., intraday) basis.
October 11, 2017, 05:07:16 PM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
Watching the market fundamentals and news about coins is very needed, but making technical analysis and playing with price charts are also very significant to make the trades much better.
October 11, 2017, 04:51:50 PM
It is so important to make your own analysis, it doesnt matter if you are making analysis for stock market or bitcoin. Remember that they all have the same patterns and reactions about the price and it's volume, so in fact, they work at the same way, and indicators works the same too.
Obviously, that news affects a lot too.
Obviously, that news affects a lot too.
October 11, 2017, 04:47:28 PM
Rarely use technical. Because i'm not doing day trading (day trading use technical, right?), i prefer buy then keep for some time. And i sure many people like me so maybe that's why people are much more influenced by fundamental (news, rumor)
and that news seem to have a higher impact on btc than candlestick formations or so..
October 11, 2017, 04:40:30 PM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
Both of them are useful in trading of stocks,investment etc.you must do technical analysis base on the statistic trending of what happen in blockchain market,you must observe the digital currency price whether its pump or dump.while on other hand you must use also fundamental analusis best on what you heard and observe the currency new's happening of crypto currency world.both of them are our weapons in making investment better.
October 11, 2017, 01:19:52 PM
IMO, technical analysis is most useful when observing long-term trends. When you're dealing with BTC, people start taking trends that people observe over several months in normal markets over just a few days to a couple of weeks in BTC markets (like double tops and double bottoms) and acting as if they're an accurate way of predicting market movements.
It's difficult to pin down fundamentals though, since BTC isn't really worth anything by default (similarly to other assets) - you just have to look at things that might affect people's perceptions of BTC, such as transaction fees and network congestion; potential increases or decreases in congestion (such as the percentage of SegWit transactions gradually increasing); the certainty of the network (and what events may cause uncertainty, such as forks); transaction volume; new merchants and more.
Generally with fundamentals the smartest people are the ones who buy before the news, so you need to analyse the information already available to make predictions for future news, rather than just reacting to the biggest recent piece of news.
It's difficult to pin down fundamentals though, since BTC isn't really worth anything by default (similarly to other assets) - you just have to look at things that might affect people's perceptions of BTC, such as transaction fees and network congestion; potential increases or decreases in congestion (such as the percentage of SegWit transactions gradually increasing); the certainty of the network (and what events may cause uncertainty, such as forks); transaction volume; new merchants and more.
Generally with fundamentals the smartest people are the ones who buy before the news, so you need to analyse the information already available to make predictions for future news, rather than just reacting to the biggest recent piece of news.
October 11, 2017, 08:50:54 AM
Both technical and fundamental analysis are basic tools needed for a successful trading of bitcoin.
Technical analysis is the key for spotting price reversal especially when trading bitcoin using Japanese candlesticks in higher timeframe, there are some important candlesticks when formed at s/r area will triggers price reversal meanwhile fundamental analysis is the driving force of the price, it dictates price volatility.
Technical analysis is the key for spotting price reversal especially when trading bitcoin using Japanese candlesticks in higher timeframe, there are some important candlesticks when formed at s/r area will triggers price reversal meanwhile fundamental analysis is the driving force of the price, it dictates price volatility.
October 11, 2017, 07:45:35 AM
Probably It has some rules for BTC. But most of the time It's just based on the news. Now it's pumping just because of the coming fork.
October 11, 2017, 07:36:19 AM
there are no better between one of those because both of them are one,
because no matter what, you need to do the technical analysis to read the map(what will it be and what is going on),
and then make a move based on the fundamentals and news.
both of them needed when you want to make an action and strategies.
you can not rely on technical analysis or fundamentals and news because your action will not flexible.
Bitcoin is no 'ordinary' asset as you described above,
that is why you need to do more than before.
it's very unpredictable,and nobody can read it fully,because it can be manipulated easily by peoples/groups
because no matter what, you need to do the technical analysis to read the map(what will it be and what is going on),
and then make a move based on the fundamentals and news.
both of them needed when you want to make an action and strategies.
you can not rely on technical analysis or fundamentals and news because your action will not flexible.
Bitcoin is no 'ordinary' asset as you described above,
that is why you need to do more than before.
it's very unpredictable,and nobody can read it fully,because it can be manipulated easily by peoples/groups
October 11, 2017, 06:48:33 AM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
In my opinion technical analysis makes more sense than fundamentals in the case of BTC.
At least based on the assumption that the fundamentals of BTC hardly ever change in a meaningful way -- neither the BCH fork, nor the closure of Chinese exchanges have reduced BTC's value proposition all that much, and that's just recent examples. News events seem to mostly accelerate the market, ie. serving as a catalyst that forces the market to retest upper and lower bounds earlier than it would have otherwise. The drop to USD 3k,- would arguably have happened either way, just not as soon, if it wouldn't have been for China.
October 11, 2017, 04:15:22 AM
do you think it makes sense to do technical analysis for trading btc? I ask because i think that btc is no "ordinary" assset just like forex or stocks and that news seem to have a higher impact on btc than candlestick formations or so..
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