1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Does stock chart analysis apply to cryptocurrency?

Discussion in 'CryptoCurrency' started by DConny1, May 29, 2017.

  1. DConny1

    DConny1 Registered Member

    Joined:
    Feb 20, 2016
    Messages:
    72
    Likes Received:
    11
    The ability to analyze a crypto chart and predict the future movement of it. Can this be done with some sort of certainty? If so, can someone learn this ability via traditional stock chart analysis techniques?

    Do you recommend any resources to help me learn? Thanks
     
  2. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

    Joined:
    Nov 10, 2012
    Messages:
    11,450
    Likes Received:
    32,373
    Gender:
    Male
    Occupation:
    Fun Lovin' Criminal
    Location:
    London
    Home Page:
    IMO No, but bet there will be some that disagree.
     
    • Thanks Thanks x 1
  3. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

    Joined:
    Mar 10, 2010
    Messages:
    15,926
    Likes Received:
    29,257
    Occupation:
    Selling CPA Sites
    Location:
    Not England
    Home Page:
    I would think that charting it would give you similar results as you get when you trade stocks or commodities.

    It is essentially a commodity like porkbellies, T-Bonds, wheat, etc.
     
  4. mickyfu

    mickyfu Jr. VIP Jr. VIP

    Joined:
    Dec 14, 2011
    Messages:
    6,855
    Likes Received:
    19,705
    Location:
    Solihull Young Offenders
    Yeah BHW. loads of billionaire traders here now, living the highlife, playboy style. Or so you would open, since Johnny threw his paper round money and took Warren status.
     
    • Thanks Thanks x 1
  5. TeslaFan

    TeslaFan Junior Member

    Joined:
    Mar 6, 2015
    Messages:
    117
    Likes Received:
    23
    Charts don't have a memory.
     
  6. Repulsor

    Repulsor Power Member

    Joined:
    Jun 11, 2013
    Messages:
    766
    Likes Received:
    275
    Location:
    PHP Scripting ;)
    Charts does give you an idea, but the demand,pump and dump,news affects cryptos 10X than it would affect stocks.
     
    • Thanks Thanks x 1
  7. avilux

    avilux Power Member

    Joined:
    Nov 23, 2014
    Messages:
    552
    Likes Received:
    290
    Of course the more experience you have with reading candlestick charts the better you'll be off, but predicting cryptos is incredibly difficult with all of what's going on. The best thing you can do is follow the social media for the larger cryptos, keep track of news events and holidays that could effect the prices, and then take a look at the past couple of weeks and months. Predicting on the week scale or even daily is pretty much impossible now with ranges going from 50-150% increases sometimes. Most common though is around 10% 24 hour changes, which is still huge.
     
  8. polldd

    polldd Jr. VIP Jr. VIP

    Joined:
    Jul 24, 2014
    Messages:
    117
    Likes Received:
    11
    Home Page:
    For now NO because crptocurrencies are more volatile than stocks.