Three types of analysis are used to trade cryptocurrencies

[Crypto123 0]

On 4/21/2020 at 9:45 AM, DoboniAyuuii said:

The technical ones are great and excellently needed, the fundamental is very important too. I thought the sentimental will not make good sense but it helps too. 

Yes, it is true. Emotional analysis does not depend on scientific and technical foundations, but rather depends on emotions and no feeling. I mean, you have a feeling, for example, that this currency will rise or fall and buy and sell as a result of this analysis.

[koussai999 1986]

On 2/4/2020 at 4:57 AM, Crypto123 said:

Hello my friends
Initially, I did a research if the topic was already in the forum in order to avoid violating the forum rules by writing duplicate topics.
In fact, I found a topic similar to this topic, but there is a difference between the two topics in terms of the number of species and in terms of the method of explanation, so I do not think the topic is repeated.

 

Let's start now:

For cryptocurrency trading there are three types of analysis, and being able to know these types plays a big role in your success.

 

1- Technical analysis
This type of analysis is most used as it researches the history of currencies and then tells you to make the appropriate decision.
It is used to analyze charts, so looking at historical data and price movement you will be able to use this information to predict what will happen at the moment.
This type is not always successful, but there is always a certain method of analysis that prevails in use.
When you open a chart, there are many tools and effects that you can use; things like Fibonacci numbers, theories of wave patterns, moving averages for example, Japanese candles and others.

 

2- Basic analysis
This type of analysis covers a broader range of topics, as it works on economic and political analysis as well as social factors that influence prices.

It may be difficult to put these items under one brief opinion, but luckily there are sites that track events that affect prices, and this helps you to be well informed of current events as well as it is good to know everything new about the digital currencies that you want to trade. As long as you are familiar with it, you will be ready.
You don't have to become a news addict; you just need to be aware of the constant news flow.

 

3- Emotional analysis
This is the last method of analysis and it takes a personal aspect. If everyone is completely objective it will be simple just follow the indicators to make a profit. But you know very well that we all have different opinions, each person’s vision will differ for the same scheme and then the analysis will differ and therefore the results that we extract from this analysis will differ.
You have the right to define your general sense of the market, you may feel that the price should be raised because you are confident. Although this is not necessarily the impression of the market. (It means you have an inner feeling that the price of a coin will go up or down)
Remember that millions of people influence the price. You have to determine what is the prevailing thought at the present time, and how confident is everyone? This kind of analysis requires little trial and error in the long run.

Thank you my friend for sharing such useful information with the members of the site
I think that the person should think that basic analysis in the world of digital currencies is a little difficult because it includes a wide and broad spectrum of people while preserving the privacy of people, so I don't think you can collect information and data to analyze the matter

[Crypto123 0]

3 minutes ago, koussai999 said:

Thank you my friend for sharing such useful information with the members of the site
I think that the person should think that basic analysis in the world of digital currencies is a little difficult because it includes a wide and broad spectrum of people while preserving the privacy of people, so I don't think you can collect information and data to analyze the matter

Until you do the basic analysis you have to collect a lot of information, this is not very difficult because there are a lot of sites that provide you with a lot of information. I wrote a topic in which a site resembles the favorites in a lot of important sites.

[Jeet Narayan 1940]

You are right my friend, technical analysis, basics analysis, and emotional analysis these are the best analysis before trading because without understand it we can do trade profitable. These three analysis is key points of trading.

[Ch Ayyan 9781]

I am agree my friend  and I think  if even we want to be  successful  in the world of trading we should  make deep study  of these three analysis. 

[Saboor 511]

All this analysis are done and it will be an advantage to those that can used the three analysis at the same time. This will only make us more competent and expert in cryptocurrency

[Crypto123 0]

2 hours ago, Saboor said:

All this analysis are done and it will be an advantage to those that can used the three analysis at the same time. This will only make us more competent and expert in cryptocurrency

Yes, it would be very good if you knew the three types of analysis. But you don't have to master it all. You can master two or two types. Also, you do not have to adhere to these types of analysis. Some people have a different way of working.

[phizusiki 239]

On 3/9/2020 at 10:45 PM, Jone20 said:

I use technical analysis, which is often referred to as the chart or charting, it is a type of market analysis that aims to predict future market behavior based on previous price movement and data on volume data.

by analyzing trends, trial and error. It is simply a function of changing probability to your advantage. very effective for many traders, some find it easy to trade and this is the best way to do it

[Thekingcallme 1975]

I think the best analysis among these 3 types of analyzes in the field of cryptocurrencies is the fundamental analysis certainly because its results are guaranteed by a very large percentage

[Saboor 511]

On 5/5/2020 at 1:16 PM, Crypto123 said:

Yes, it would be very good if you knew the three types of analysis. But you don't have to master it all. You can master two or two types. Also, you do not have to adhere to these types of analysis. Some people have a different way of working.i

In cryptocurrency, technical tools are useless and they aren't the best for judging the price of cryptocurrency, the volatility is high and those tools are meaningless, I just wonder how it was possible to predict cryptocurrency

[BTC Future 3946]

On 2/7/2020 at 12:23 PM, Sapdrx said:

Beside these 3 types of analysis I hear a lot of traders talking about fundamental analysis. I think this the same as basic analysis because it's about macro ecomics and long term forecasts.

Fundamental analysis cannot be applied on cryptocurrencies. They are not companies that keep books and provide profits and pay taxes. Most of them just have some hypothetical office registered in an island as Seychelles and don't provide any valid financial data or being audited by any financial institution. That's why crypto is called the internet far-west.

[Jessica Karren 1242]

On 5/5/2020 at 6:16 AM, Jeet Narayan said:

You are right my friend, technical analysis, basics analysis, and emotional analysis these are the best analysis before trading because without understand it we can do trade profitable. These three analysis is key points of trading.

Exactly without doing these analysis we can't make good profit. These are prerequisites for doing successful trading and technical analysis is the most important one.

[Soaib khan 1035]

On 3/10/2020 at 11:25 AM, duncun007 said:

as someone who has been trading for 3 years now i can tell you that no analysis will ever tell you how the market will behave exactly but rather its just speculations that might be right or wrong.

that's absolutely true none can exact can tell you where will the price of bitcoin or any other kind of assets go they can just predict that this is may be happen they are not sure as well because they gives us stoploss

[Crypto123 0]

1 hour ago, Jana Ara said:

The topic was awesome and there is a lot to learn from it.  Strategic intelligence needs to be used in trade and technological advancement, and the more time spent on market prices to trade, the greater the chances of profit.  In order to do business, you need to know the basics and if you know the basics, the steps to succeed in business will go ahead.  You can never be emotional when trading, and as long as you keep yourself strong, the trading strategy will work.

I am glad that the topic liked you, my friend, I have tried to provide as important information as possible for the benefit of all, there are many people interested in trading but they do not have enough experience, of course these tips will not make anyone an expert in trading but he will definitely benefit from it.

[DreamStage 2105]

Technical analysis is the main factor of achieving a good or bad investment profit. You have to understand which currencies are the best to invest at a specific time or when an event happening.

 

Basic analysis brings you the information regarding how good a coin is, if it's active or dead coin based on it's 24 hour trading volumes and much on that exchanges provide.

 

Emotional analysis brings you the sentiment and feeling that you are scared to make such investments because everything might fail as you expect thus not able to profit.

[Calvinpriva 17296]

Most of the time i use technical and fundamental analysis, they are helpful but they require knowledge. There are many things which we can learn and use them and they will help to increase our trading profit.

[magd 5231]

Technical analysis is one of the basic analyzes of trading on any platform because we can know the steps that may happen in the future that must be observed. As for emotional analysis, it is different between traders and I am one of the traders who do not use emotion but rather rely on concrete facts

[Whited35 15285]

@Crypto123I am preferring technical analysis to perform any sorts of trading activities. There is another analysis too which is known as sentimental analysis. We should be able to perform different analysis if we are focused to earn benefits from the cryptocurrency tradings. 

[Raqeebzy 6456]

3 hours ago, Whited35 said:

@Crypto123I am preferring technical analysis to perform any sorts of trading activities. There is another analysis too which is known as sentimental analysis. We should be able to perform different analysis if we are focused to earn benefits from the cryptocurrency tradings. 

In fact, for a professional trader who wants to be assured of profits most of the time, you might need all of the trading analysis techniques or a little bit of them. It is unsafe to say they will guarantee profits 100% but at least to a satisfactory extent.

Another type of analysis I believe it should be included is historical analysis.

[Crypto123 0]

10 hours ago, Whited35 said:

@Crypto123I am preferring technical analysis to perform any sorts of trading activities. There is another analysis too which is known as sentimental analysis. We should be able to perform different analysis if we are focused to earn benefits from the cryptocurrency tradings. 

Yes my friend, I mentioned this emotional analysis, I also prefer technical analysis because it is more accurate and better, of course there are other types and everyone can choose the type that suits him, as well as not necessarily rely on one type in the analysis.

[Brushless4500KV 4214]

11 hours ago, Whited35 said:

@Crypto123I am preferring technical analysis to perform any sorts of trading activities. There is another analysis too which is known as sentimental analysis. We should be able to perform different analysis if we are focused to earn benefits from the cryptocurrency tradings. 

As far as I know, sentimental and technical analysis are pretty much the same because a technical analyzer tries to find out how the majority of coin owners have felt in a period of time. All those lines, curves and angles are used to determine the market direction based on sentiment. Now, what do you mean by sentimental analysis? Do you use any particular formula to achieve your goal? In technical analysis, there are lots of patterns to follow to predict the future shape of graphs. Is this the technique you use in so-called sentimental analysis? If there is any major difference between the two, please explain it to us.

[Crypto123 0]

18 minutes ago, Brushless4500KV said:

As far as I know, sentimental and technical analysis are pretty much the same because a technical analyzer tries to find out how the majority of coin owners have felt in a period of time. All those lines, curves and angles are used to determine the market direction based on sentiment. Now, what do you mean by sentimental analysis? Do you use any particular formula to achieve your goal? In technical analysis, there are lots of patterns to follow to predict the future shape of graphs. Is this the technique you use in so-called sentimental analysis? If there is any major difference between the two, please explain it to us.

Thank you, my friend, there is not much difference between them, sometimes the names differ, but the meaning is the same and therefore it is OK if the names differ, also for me it is not important to follow one method, but it is possible to mix between the many types and in the end you can make your own style that suits you.

[George10 9932]

The three given types of analysis for trading are helpful especially in the forex market where there are many factors that can influence the price movements like news and patience also is needed never should you trade out of your strategy or indicator signal you follow otherwise you will make unnecessary losses.

[Whited35 15285]

On 6/15/2020 at 12:35 AM, Brushless4500KV said:

Now, what do you mean by sentimental analysis? Do you use any particular formula to achieve your goal? In technical analysis, there are lots of patterns to follow to predict the future shape of graphs. Is this the technique you use in so-called sentimental analysis? If there is any major difference between the two, please explain it to us.

@Brushless4500KV and @Crypto123

Good question.I try my best to elaborate here, constructive criticism is appreciated here if I am wrong.First of all, Sentiment analysis is not my so-called analysis, it is widely discussed and used to understand market sentiment. Well, Technical Analysis and Sentiment analysis can be relatable but actually not the same. Technical analysis involves the observations of market trends by taking the references of some technical details like graphical chart,price history,uniqueness and performance of certain cryptocurrencies etc. These details are used to detect further direction of market but in the case of sentiment analysis, it is utterly based on emotions and opinions of audience. So you ask me a question like what formula you are applying to perform sentiment analysis? I do not think any traders or investors would generate sentiment data so that I can evaluate them however index of feelings can be applicable here in which opinions of random people towards cryptocurrency can be a key factor to generate sentiment index. So let's tell me yourself, suppose there are 500 traders, they are currently performing trades according to current market movements but due to some reasons, more than 90% of them are about to go for bearish trend and you are not aware about their decision and just performing technical analysis, would it really help you to get profits from trading? So here is a key difference.Looking like it is going to be quite long, here are some resources which may help you. Thanks.
Resources for you:-

• https://cryptoverze.com/types-of-market-analysis/
• https://news.bitcoin.com/sentiment-analysis-is-the-best-trading-tool-youre-not-using/
• https://medium.com/the-capital/sentiment-analysis-in-the-crypto-world-how-important-it-is-for-a-new-venture-of-crypto-9ba9eff5beb0

 

[Brand1 1336]

I have read a lot of information about these analyzes and for me, I prefer and always choose the basic analysis because it does not contain fewer risks and depends on political and economic analysis. Fortunately, this analysis contains sites that track the events that affect prices permanently while technical analysis depends on graphical analysis And on expectations and predictions, it can be considered a little dangerous