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RE: Bitcoin(BTC/USD) Update: Is Korea Announcement Of Exchange Closure Is A Reason For Current Fall.......
Interesting @ jimmyrai28 ! Now here’s a question for your comment.
Why does the technical analysis (TA) theory and practice that weree formed around stock price behavior apply well to cryptocurrency price behavior? I studied that theory in some books on TA many years ago, and have repeatedly used it in my stock market trading.
Given the multiplicity of exchanges around the world, and none with really deep order books, as shown in the ease with which big %changes can be produced in bitcoin, why does that theory not need major revision when being applied to cryptos? This is what I keep asking myself.
Cheers!
Basic of technical will never be changed. One should buy above the support or when resistance is crossed or sell near the resistance or break of support. That support resistance can be of trendline, channels, horizontal lines, moving averages.
One just need to fine tune oneself accordingly and this fine tunning takes time according to individual. Technical analysis is nothing but reading the charts for getting an idea of one edge happening over other. One just need to apply that without second thought, rest is to the market and in ur contol is exit whether in loss or profit thats another matter.
Chart is a chart whether its of crypto or stocks or forex. Whether it is monthly weekly daily or minutes chart, pattern of reading is same one just have a knowledge to read and collect that info correctly and put that in to practice.
I hear you; but do we have enough years of crypto statistics to be sure that basic technicals will never be changed?
Longer the data greater the chance of correct analysis but after three months of data one can get the idea where the script can go.
Interesting. I have many years of trading stock options and stocks, plus studying and acting on chart patterns, and would find a few months to provide a rather thin dataset; but, as they say, "you live and learn".
Please tell me if you know of major crypto-oriented web sites where articles are published in Hindi or Panjabi.
Thanks in advance.
Sorry, i don't know any.......
Okay, thanks.