Why do you watch crypto chart pattern

Mahanton

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Quote from: Semar Mesem on September 24, 2021, 06:54:19 AM

Quote from: rahmatrf331 on September 21, 2021, 12:19:58 AM

as investors need to understand and monitor chart patterns in every market price movement, an expert in trading of course they can predict bitcoin price movement signals by looking at previous patterns. because some of the chart patterns are influenced by internal and external factors on the part of big investors.

That's right, we must understand all the tools for price analysis, I think the pattern chart is the easiest chart to understand and easy to use and has proven to be more effective than other charts, of course we have to combine it with analysis from other charts so that we can make the right decisions.

When you are experienced enough then you could able to identify on what those candles and patterns been showing off compared into those people who dont know on how to read up charts.
Of course there would really be difference between experienced and a noob.I dont see for this not to be relevant or not useful because this is way more better compared on having
no preparations when making out trading decisions.Even though it isnt that precise that it could make you profitable but at least you are doing something to make those chances higher.

rhodelmabanal

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As a trader and investor I think we need to look at the price to know more about the price cycle from the past year and today's price, so that we can have a preference on what coin is good to buy at the moment it will become more easy if we look on to the price chart from the past and compair it at present we can easily make a balance in our investment plan.

Semar Mesem

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Quote from: rahmatrf331 on September 21, 2021, 12:19:58 AM

as investors need to understand and monitor chart patterns in every market price movement, an expert in trading of course they can predict bitcoin price movement signals by looking at previous patterns. because some of the chart patterns are influenced by internal and external factors on the part of big investors.

That's right, we must understand all the tools for price analysis, I think the pattern chart is the easiest chart to understand and easy to use and has proven to be more effective than other charts, of course we have to combine it with analysis from other charts so that we can make the right decisions.

jakdanyel

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kycfree

For example, I watch the Bitcoin chart pattern because I have made an investment into it. I like to observe the price movements and act according to it. Of course, I don't mean that I'm one of the panic sellers. I have already set a target for myself to sell when I see the price at it. But I still want to watch the chart to have some ideas about what I can see in the next days. But even this doesn't guarantee anything for my investment. Because Bitcoin itself is very volatile and we never know what will happen in even one minute.

Hamphser

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Quote from: Silberman on September 23, 2021, 03:23:09 PM

Quote from: Wawa2013 on September 21, 2021, 01:53:04 AM

Quote from: matchi2011 on September 21, 2021, 01:31:46 AM

Quote from: rahmatrf331 on September 21, 2021, 12:19:58 AM

as investors need to understand and monitor chart patterns in every market price movement, an expert in trading of course they can predict bitcoin price movement signals by looking at previous patterns. because some of the chart patterns are influenced by internal and external factors on the part of big investors.

They can use old data to predict the possibilities where the market will be heading, not accurately though since there are still
lots of influence that may change the direction, but for most traders who have good experienced they can use those charts
to set their expectations.

Better than taking your position and leaning with luck, it's difficult to work without real understanding of the market
flows.

Investing in crypto is not gambling, so we get profit without relying on luck. Therefore it is necessary to study crypto chart patterns, so we can
compare current crypto chart patterns with the past. We can analyze the results of the comparison, from there we can predict which direction
the coins will move. There's no guarantee that it's 100% accurate, but it's better than relying on instinct or luck.

Correct, some people think it is gambling because many traders use a probabilistic approach and they only enter trades once they have a certain amount of chances of winning the trade, to many people this sounds like gambling but in fact what they are doing is to wait for the market to present formations from which they know there is a high probability the markets go in one direction and then they make their trades with those considerations in mind, so it is not really luck they are just playing it safe.

Not actually playing safe but rather playing it wisely and having that analysis because it is just better if you do have some basis on watching out patterns and making up decisions rather than on making one

without any basis because you are just simply playing gambling at all.Trading is something needing for you to have some in depth analysis and make out decisions basing up on what you do have observed

and this is why crypto chart pattern might really be non sense for some but this is actually relevant most of the time because if you dont do such thing then you would really be having a hard time on this market.

Silberman

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Quote from: Wawa2013 on September 21, 2021, 01:53:04 AM

Quote from: matchi2011 on September 21, 2021, 01:31:46 AM

Quote from: rahmatrf331 on September 21, 2021, 12:19:58 AM

as investors need to understand and monitor chart patterns in every market price movement, an expert in trading of course they can predict bitcoin price movement signals by looking at previous patterns. because some of the chart patterns are influenced by internal and external factors on the part of big investors.

They can use old data to predict the possibilities where the market will be heading, not accurately though since there are still
lots of influence that may change the direction, but for most traders who have good experienced they can use those charts
to set their expectations.

Better than taking your position and leaning with luck, it's difficult to work without real understanding of the market
flows.

Investing in crypto is not gambling, so we get profit without relying on luck. Therefore it is necessary to study crypto chart patterns, so we can
compare current crypto chart patterns with the past. We can analyze the results of the comparison, from there we can predict which direction
the coins will move. There's no guarantee that it's 100% accurate, but it's better than relying on instinct or luck.

Correct, some people think it is gambling because many traders use a probabilistic approach and they only enter trades once they have a certain amount of chances of winning the trade, to many people this sounds like gambling but in fact what they are doing is to wait for the market to present formations from which they know there is a high probability the markets go in one direction and then they make their trades with those considerations in mind, so it is not really luck they are just playing it safe.

junmisakiro

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Trend lines or typical price directions that cryptocurrencies are aiming for can help investors when they want to invest with these crypto assets, market prices are very volatile so observing a price movement chart may reveal highs and lows that form a linear pattern, price history tends to repeat itself so that it makes traders will react the same way when experiencing the same sentiment or trend.

el kaka22

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I do not, however I do have a lot of friends that does it. I actually do check chart patterns as well but I do nothing about them, that is why I said I do not, because usually the question entails why you check it and do something about it and trade accordingly, not just watch it and do nothing about it.

The reason why my friends read charts and trade is the fact that they are day traders and every small movement matters to them, even 100 dollar increase in bitcoin could mean a thousand dollars profit for them, which makes sense if you ask me, longer it takes the less charts matter. I do not because I hate day trading, requires way too much effort and time and mental capacity none of which I posses.

Victorycoin

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As a trader being equipped with knowledge and familiarity with crypto chart patterns allows you to recognize the chart's movements and directions thus enabling you to make more informed decisions about your business. By recognizing the patterns on different charts you will be able to make more accurate estimates as well as predict the market if you are aware that the market is bullish or bearish you can reduce the risk and increase the potential profit.

Oceat

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Quote from: ethereumhunter on September 21, 2021, 02:24:37 AM

Quote from: rahmatrf331 on September 21, 2021, 12:19:58 AM

as investors need to understand and monitor chart patterns in every market price movement, an expert in trading of course they can predict bitcoin price movement signals by looking at previous patterns. because some of the chart patterns are influenced by internal and external factors on the part of big investors.

Some investors do not need to watch the chart pattern too often because they invest in the coin for a long time and can handle their emotions if the price is down. Those investors can calm down and rebuy more amount when they see the price is down and hold it with the other amount until their target time or price reaches in the future. But if you are a trader, especially a daily trader, you should watch the chart pattern to predict where the price will move and place your order.

Yes, indeed and we are talking different kind of trading strategy here, the long term and short term investment. It's normal for a daily trader to look at the market too often to predict what's the market next movement so they can place their next order. By looking at the previous data and comparing it to the present that's how they would predict most of the price. But for long term investors, a small dip like this won't bother them since they could either buy more or hodl it depends on their choices.

They never bother to look the chart too often since the news will reveal most of what's happening in the market.

ethereumhunter

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Quote from: rahmatrf331 on September 21, 2021, 12:19:58 AM

as investors need to understand and monitor chart patterns in every market price movement, an expert in trading of course they can predict bitcoin price movement signals by looking at previous patterns. because some of the chart patterns are influenced by internal and external factors on the part of big investors.

Some investors do not need to watch the chart pattern too often because they invest in the coin for a long time and can handle their emotions if the price is down. Those investors can calm down and rebuy more amount when they see the price is down and hold it with the other amount until their target time or price reaches in the future. But if you are a trader, especially a daily trader, you should watch the chart pattern to predict where the price will move and place your order.

Wawa2013

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Quote from: matchi2011 on September 21, 2021, 01:31:46 AM

Quote from: rahmatrf331 on September 21, 2021, 12:19:58 AM

as investors need to understand and monitor chart patterns in every market price movement, an expert in trading of course they can predict bitcoin price movement signals by looking at previous patterns. because some of the chart patterns are influenced by internal and external factors on the part of big investors.

They can use old data to predict the possibilities where the market will be heading, not accurately though since there are still
lots of influence that may change the direction, but for most traders who have good experienced they can use those charts
to set their expectations.

Better than taking your position and leaning with luck, it's difficult to work without real understanding of the market
flows.

Investing in crypto is not gambling, so we get profit without relying on luck. Therefore it is necessary to study crypto chart patterns, so we can
compare current crypto chart patterns with the past. We can analyze the results of the comparison, from there we can predict which direction
the coins will move. There's no guarantee that it's 100% accurate, but it's better than relying on instinct or luck.

matchi2011

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Quote from: rahmatrf331 on September 21, 2021, 12:19:58 AM

as investors need to understand and monitor chart patterns in every market price movement, an expert in trading of course they can predict bitcoin price movement signals by looking at previous patterns. because some of the chart patterns are influenced by internal and external factors on the part of big investors.

They can use old data to predict the possibilities where the market will be heading, not accurately though since there are still
lots of influence that may change the direction, but for most traders who have good experienced they can use those charts
to set their expectations.

Better than taking your position and leaning with luck, it's difficult to work without real understanding of the market
flows.

rahmatrf331

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https://i.imgur.com/3fXQC4m.png

as investors need to understand and monitor chart patterns in every market price movement, an expert in trading of course they can predict bitcoin price movement signals by looking at previous patterns. because some of the chart patterns are influenced by internal and external factors on the part of big investors.

Hamphser

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Quote from: Silberman on September 20, 2021, 02:26:50 PM

Quote from: GreatArkansas on September 19, 2021, 07:41:30 PM

There are different people in crypto, traders, investors, or even non-crypto people, they are still watching or observing cryptocurrency markets.

So if you are a trader, probably you are spending a lot of time in chart, identifying different patterns of indicators that may help you to enter a good trade.
So, if you are just a normal cryptocurrency investor, it is suggested not to check the chart from time to time, especially if you are long-term investor, it will just make you stress.

I am going to agree with this, different people have different needs, a trader is going to need not only to watch the charts all the time every single day but they also need to be very proficient on their ability to read them, however someone that is an investor doesn't really need something like this and they can get away with just watching the charts once every week just to know how their investment is going on and they do not really need a lot of skills to read what the market is going to do in the short term because they don't need to.

There are really people who do really mind on watching charts most of the time and there are people who doesnt and this is actually depending on what type of trader or investor you are because not all woould really be just the same which it would really vary and differs.

And also watching out chart patterns is much more better rather than having no basis at all in regards into your trading decisions.TA's might not be precise but it is much prefer rather than doing nothing at all.

Its up on someone to take whether they do like to watch for some patterns all the time or would really be on situational.

dezoel

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I do not check the patterns or TA or anything to make my investment because I am a long term investor. It could be 44k, it could be 40k, it could be even lower and I would still keep on buying and hoping that it will go up. If you give up on crypto than crypto will give up on you.

The only way to make a profit on crypto is to believe that you are going to make a good profit, and it will go up. If you start thinking that you will not make a profit and the price is crashing and you should get out etc etc. then you are going to be feeling that loss in the long run. I have to say if you insist on making a profit here, then you must think it will go up in the long run.

Silberman

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Quote from: GreatArkansas on September 19, 2021, 07:41:30 PM

There are different people in crypto, traders, investors, or even non-crypto people, they are still watching or observing cryptocurrency markets.

So if you are a trader, probably you are spending a lot of time in chart, identifying different patterns of indicators that may help you to enter a good trade.
So, if you are just a normal cryptocurrency investor, it is suggested not to check the chart from time to time, especially if you are long-term investor, it will just make you stress.

I am going to agree with this, different people have different needs, a trader is going to need not only to watch the charts all the time every single day but they also need to be very proficient on their ability to read them, however someone that is an investor doesn't really need something like this and they can get away with just watching the charts once every week just to know how their investment is going on and they do not really need a lot of skills to read what the market is going to do in the short term because they don't need to.

RealMalatesta

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Quote from: Gosgosking on September 05, 2021, 09:52:53 AM

Interestingly, these patterns appear to be technical patterns such as pennants and flags, which indicate a high likelihood of important moves ahead once cryptos break out from them.

What is your point? Have you ever spotted any non-technical pattern in bitcoin markets? Bitcoin market is nothing short of any other markets like forex or stocks; bitcoin market is having similar massive volumes in major exchanges hence when a market is having good volume then it will definitely obey all the technicals of trading.

Quote from: Gosgosking on September 05, 2021, 09:52:53 AM

A convincing break to the upside increases the chances of a re-test of the prior highs in April, while a bearish breakdown would increase the chances of a re-test of the $30,000 support level.

Yeah, this is how bitcoin market is being trading since I started watching it from 2013. Do your technical analysis have anything new to surprise this community? I mean that we are all expecting about reaching $100k before end of this year and there could be less possibilities for going back to break $28k again but if your chart patterns get anything new to support these or to oppose, then we are all glad to have them.

gabbie2010

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Quote from: XCANA on September 17, 2021, 10:05:45 AM

Taking a close look at the crypto currency chart pattern will give one an idea of where next will be the movement of the market so that you will the trading decision to take. S advisable for one to do so since that is the only to make an informed trading decision. History of the chart 📈📉 do repeat it self most time in the crypto currency market and that is why people do watch past and present chart pattern before taking a decision.

That is exactly what I do consistently everyday, I installed 2 moving averages on my chart just to indicate the trend of the market while waiting for the appropriate chart pattern to form after a price pullback in the opposite of the overall trend, I will wait for an opportunity to enter long or short, the importance of chart patterns analysis cannot be overemphasize for any successful trader, once a trader is used to it, the patterns historically repeat itself over and over, its up to every crypto traders or hodlers to take time and practice charting patterns knowing it will aid or guide them towards making profits consistently.

GreatArkansas

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There are different people in crypto, traders, investors, or even non-crypto people, they are still watching or observing cryptocurrency markets.

So if you are a trader, probably you are spending a lot of time in chart, identifying different patterns of indicators that may help you to enter a good trade.
So, if you are just a normal cryptocurrency investor, it is suggested not to check the chart from time to time, especially if you are long-term investor, it will just make you stress.

Topic: Why do you watch crypto chart pattern (Read 338 times)