This is a widely asked question all over the internet. Many people ask these questions, and many people say that "the crypto market is too young to use technical analysis on". Well, I think that that's bullshit, and in this post, I'll tell you why I feel so.

See, 2017 marked a new year in cryptocurrency. That was when the great bitcoin bull run, and alt season occured. A lot of people made a lot of money, and a lot of people lost a lot of money. But that's not why I mentioned it.

2017 was the year that institutional investors and Forex traders entered the market. They saw the prospects, and were happy with it. That year marked the year that TA began to work in crypto.

Remember that TA is a self fulfilling prophesy. In other words, so many people rely on these tools that they begin to work. Not that they work normally, but the belief makes them work.

In that case, I see no reason why someone says that the market is too young. The market doesn't need to be of age, but needs a certain number of people to accept the norms of TA for it to work. The people saying it's too young are probably those who are either too lazy to learn TA or have lost a ton of money in crypto that they're not willing to try. This is also the reason most people HODL. They're too lazy to learn how to trade, and so prefer to just, without any knowledge whatsoever, pick a cryptocurrency they feel will "moon" , go all in on that cryptocurrency and wait for it to moon. Which never happens by the way.

I use TA all the time, and I live off my crypto trading. And no, I'm not "surviving". I live a normal life. I eat out most of the time(not just eating ramen noodles like most of the public would make you think), I travel(or at least used to) and I don't live in my parent's basement. I also foot my own bills, pay my own tuition and other things. You get the idea.

So saying that TA doesn't work in crypto because the market is too young is a little far fetched.

So where do you learn TA from? And what works in crypto?

I have found over the years that the tools that work in crypto are simply: S/R structures(including zones, levels, lines, pools), trend lines, channels(you can literally get rich trading a long channel) and Fibonacci. The remaining stuff helps, but is mostly fluff.

Equally, most new traders feel that they should use leverage when starting out to artificially multiply their capital. This consistently ends in tears. I'm serious.

That's my two cents on the topic. Do you use TA? Let me know down below.