The use of the technical analysis in cryptocurrency investment is very important. When you make use of technical analysis you will have to understand the issues of the charts very well.
How important is it to understand the charts for investing in any cryptocurrency? Can or should you invest without knowing them?
- Thread starter Sariana23
- Start date
It is quite important to have the knowledge around the technical analysis before you delved into cryptocurrency trading in order to avoid losses and to maximize your profit in that venture.
It is very important to analyse tracks because the chart analysis is very instrumental stuff in the cryptocurrency space because you will need to understand the gimmicks behind the pure price action before you invest.
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If you do not have a knowledge around chart analysis, it is better for you not to going to cryptocurrency because you'll be loose and it will not be a good thing for you at that period.
Investing in cryptocurrency does not need any serious understanding of chart. You can just follow some expert and you can ask them to help you predict the best time to buy the lowest bottoms. Since this is usually ones in a while.
There are two ways to analyse the cryptocurrency market. The first one is the fundamental analysis, the second one is the technical analysis. If you want to trade cryptocurrency, you need both knowledge of the fundamental and technical analysis. The fundamental analysis could be of great help if you only want to buy and hold the digital currency for future gain.
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It is very important for you to have at least a little idea of how to read the volatile chart in any of the cryptocurrency you are interested to invest, this will guide you to prevent you from investing at its peak. It is necessary to some extent.
Knowing technical analysis in the crypto currency exchange Business depends on the fact if you are going to be a trade or an investor. If you are an investor, you need news more but as a trader you need chart more.
In my opinion, technical analysis is absolutely eessential for anyone that intends to invest in the financial markets.
It reduces the chances of making the wrong decisions.
It reduces the chances of making the wrong decisions.
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I completely agree with this your opinion.
If one is not very vast at analysing the charts chances are that one would not be making the best investment decisions.
It is a non negotiable aspect of investment. Even if you don't have the skill, expertise and time to analyze, it would be wise to enquire from one with such qualities.
That is what I always advise investors to look for people that have the expertise and experience so that they will seek investment advice thereby helping them get good results.
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Unfortunately, it's hard to find such people. I know because I searched. Even if they tell you when to buy, they rarely give take profit points, not do they share what they do if they see signs that their trade would go in the other direction.
This way, you lose money even if you got the signal.
It is possible to gain profits by just analysing the news .
But in order to stay profitable for a long time it would be great to combine it with a little bit of technical analysis.
But in order to stay profitable for a long time it would be great to combine it with a little bit of technical analysis.
The charts I know just kind of things but they are representation of actual trading behaviour that you can be able to compare with trading history and then make decisions with so they are very important.
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The cryptocurrency chart analysis is very necessary and it is needed to analyse the market sentiment.
The direction of movement of the cryptocurrency trend is calculated using the technical and fundamental analysis.
Yes , it is not really easy to have access to people that are genuinely interested to drop signal for the benefit of everyone but unfortunately I have few of them in my little group and communities online.
It is really good to help each other by sharing relevant informations.
It is a pity that so many members who would like to hide informations and not willing to see others gain from it.
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It is really important to possess detailed knowledge on the charts because these are the basis on which you will be able to predict price rises and falls. This has a direct effect on whether you are going to run at a profit or loss.
if you find buy or sell order is wagering you open in same time real account and place same order then if you find chart is loser in demo account you do not do it so it is good to alternate between demo account and real account and not use demo account for a period this is wrong thinking.
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