Does technical analysis work with crypto?

By MadMaxx | Psycho Crypto | 31 Dec 2019


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We've all heard of TA.

Using the charts to predict the charts.

Masters of TA are basically on the same level as the Jedi.

They have those awesome mind tricks.

They can trick the market to do what they want it to do.(Of course they can't. The market does what it wants, when it wants)

And all this is well and dandy for Forex and stocks.

But crypto?

Does it work with crypto?

Let's find out!

See, when crypto trading started, it wasn't this full of tools and sweetness.

It was actually a very frustrating thing to do.

There were basically no other fiat pairs apart from BTC/USD, you couldn't see the candlestick chary because it simply wasn't there, and volumes were so tiny they could fit in your wallet.

Then crypto blew up.

Now exchanges like Binance and Bitfinex are all over the place, giving some crazy good charting tools and other useful features.

Does that mean that TA works with crypto?

Well, given that Forex and stock traders are the majority of crypto traders now, it definitely does.

They all use the same methods of TA, with different approaches, and thus all TA methods and candlestick chart patterns become self revealing prophesies.

And this leads to patterns and graphs working the same way that they would work in Forex, just with WAY more volatility.

So yes, TA works in crypto!

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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