Three types of analysis are used to trade cryptocurrencies

[Crypto123 0]

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.

[Uttom Deb 333]

According to the three types of analysis, cryptocurrency is working, they say it must be, it may not be, it may be nothing, but I have limited it to three types.

[Sapdrx 469]

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.

[Rahul21 626]

Yes, of course, through these three types of analysis, we can achieve great success in trading.  And these three types of analysis actually sound good to me, and if all crypto users have done trading with this analysis, then of course we can raise our money based on this analysis.

[Crypto123 0]

5 hours ago, Rahul21 said:

Yes, of course, through these three types of analysis, we can achieve great success in trading.  And these three types of analysis actually sound good to me, and if all crypto users have done trading with this analysis, then of course we can raise our money based on this analysis.

Yes, you can use these types in the analysis, and everyone prefers a different method than the other, where some of them love technical analysis, others prefer basic analysis and some of them are emotional. But in the end all are useful ways.

[Popedee 377]

On 2/4/2020 at 10:57 AM, Crypto123 said:

- 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

Can you point me to sites that track such events that form basic analysis? To better my trading skills, I signed up to received coinmarketcap newsletter. 

Also, aside technical analysis, I expect to see coin metrics analysis too as that too is very important

[Crypto123 0]

On 2/8/2020 at 2:06 AM, Popedee said:

Can you point me to sites that track such events that form basic analysis? To better my trading skills, I signed up to received coinmarketcap newsletter. 

Also, aside technical analysis, I expect to see coin metrics analysis too as that too is very important

Well my friend, here you can find a list of the best sites that track cryptocurrency prices
https://alltop.com/cryptocurrency

I hope it will be useful to you. They are news sites concerned with cryptocurrencies.

[Yanadia 1517]

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

 

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.

Its true because A person's emotional level is compared to one's knowledge of facts .the most important thing that needs to be mastered in this Emotional analysis is really the key to both basic analysis and analysis techniques

[Gg233 1061]

Sharing this information to everyone or user here in this forum really have big impact now we just not have to earn here and also we are going to learn a lot because of this one.

[gigabyteRTX 1583]

Well, all this analysis is very important to attain so it's better for new in trading should know about this and always remember it for them to be more efficient in trading and have a more solid path and guide to follow.

[Crypto123 0]

58 minutes ago, CH Danish said:

 

Fundamental  strategy.

Technical analysis of different timeframes strategy.

Scalping.

Thank you dear, but in fact Scalping is a trading strategy and not a method for technical analysis of cryptocurrencies, I have explained a little about Scalping in a previous topic and you can review it from there.

[Crypto123 0]

3 hours ago, Muniru said:

Sharing this in order to everybody or users at this point in this forum has ended a large impression on us, not lone resolve we receive to earn at this time and for the reason that of this we are scholarship more.
 

Thank you, I liked to share these different methods of analysis in order to benefit the largest amount of members in the forum, because each person has a different way of trading than the other and some of them are trading without any method so it is useful that they learn these types.

[Jhadhasan 872]

Technical analysis is divided into several schools. We may see who depends on wave analysis and see who depends on supply and demand. Familiarity with all science of technical analysis is difficult, so we have to choose what is appropriate for our thinking.

[Crypto123 0]

1 hour ago, Jhadhasan said:

Technical analysis is divided into several schools. We may see who depends on wave analysis and see who depends on supply and demand. Familiarity with all science of technical analysis is difficult, so we have to choose what is appropriate for our thinking.

Thank you for adding this good information about technical analysis, yes this analysis is different types or as you say " different schools" and needs some learning and some experience. Therefore, each person must choose a type of analysis that corresponds to his nature and capabilities.

[Sasaki 171]

Well I do trading in a month now and didn't still use that analysis yet, well that analysis is good but you can't always rely on that it is still better if you are the one who learn how the market works so you will know what you're doing. 

[Ssking93 51]

You can't always rely on how you learn market work, but you know better what you're doing. I've been trading for a month now and haven't used that analysis yet, well, that analysis is good

[Shaza Ahmad 1682]

On 2/4/2020 at 9:57 AM, Crypto123 said:

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 for your great explanation about these types of analysis. I think technical analysis is OK and can be taken into consideration and basic market analysis in general and where the market can go is good but emotional analysis I have not heard it before but I liked your explanation of it and maybe a lot of people rely on this analysis, and some of them may make a decision and succeed.

[Crypto123 0]

1 hour ago, Shaza Ahmad said:

Thank you for your great explanation about these types of analysis. I think technical analysis is OK and can be taken into consideration and basic market analysis in general and where the market can go is good but emotional analysis I have not heard it before but I liked your explanation of it and maybe a lot of people rely on this analysis, and some of them may make a decision and succeed.

Thank you, yes these types exist and if many people do not know them, in terms of emotional analysis I think that there are a lot of traders using it without knowing its name, they depend on the emotion or the internal feeling that the currency will decrease or rise.

[Crypto123 0]

1 hour ago, Hashimi said:

For me the effective rate should be at the bottom rate, it can be determined when there was a coin that gets a huge decrease in its price. I don't have a special strategy but just try to take the main key like put some money as my reserved funds to create take my chance when the price was dipping. The effective rate just speculation and that depends on how the technical analysis of such coin.
To anticipate the bottom is always become my main strategy in many cases and this is a must to get into my rocket that will bring me to a lot of profit.

Yes, I love your simple trading strategy. It is very useful for everyone to have his own method of trading and not to adhere to any particular method. I prefer every person to trade in the way that he feels comfortable with and finds it good and effective and that is all and there is no need for all these complications.

[Crypto123 0]

On 2/13/2020 at 6:52 PM, sophia34 said:

i think everyone have there own criteria of doing this, everyone knows better itself what suits you and your work, so we cannot list down the items like 1,2,3 as it is difficult to do this

Although I wrote this topic and put these three methods of analysis, I personally agree with the opinion and see that it is better for the trader not to adhere to these methods literally but rather to him - to find the method that relaxes him and may be different from all this.

[nicolas1234789 2566]

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

1- Technical analysis

This is popular analysis and used by trader to read market movement and replace the money. I just don't understand with number 2 and 3, for me that is psychology training/ tips to avoid bigger lost. We need analysis market and control our psychology to keep stay with plan.

[Crypto123 0]

6 hours ago, nicolas1234789 said:

This is popular analysis and used by trader to read market movement and replace the money. I just don't understand with number 2 and 3, for me that is psychology training/ tips to avoid bigger lost. We need analysis market and control our psychology to keep stay with plan.

Yes, your words are true, my friend. Analysis No. 1 is the most popular and most used among the analysts to analyze the movement of the market, and for the number 2.3, You don't care much about labels and the methodical explanation you just need you use the trading method that is comfortable with you regardless of the labels.

[Crypto123 0]

14 hours ago, wecrtv said:

Appreciate it intended for giving that info with us. I'm sure we need to understand this post previous to most of us start out dealing. In addition to by means of reading this article enroll we can easily fully grasp every little thing with this enroll. This will be useful for your small business and may strengthen your small business.

There is no need to thank because this is my duty in this forum and everyone's duty is to provide useful and good information and exchange experiences and information between members so that the benefit prevails to all members as well as to the forum.

[Crypto123 0]

On 2/26/2020 at 12:14 PM, MeiLynh said:

I usually only use technical analysis in trading. The basic analysis is quite complicated and I am studying it. In terms of emotional analysis, I find it comes from subjective emotions and should learn to control it.

Thank you for sharing your trading experience with us. Yes, the basic analysis is difficult and needs a lot of follow-up news, sites, analyzes, markets and others. Experts often use technical analysis, and casual traders often rely on emotional trading.

[jacker 1095]

Basically, these 3 analyzes will be the first step, in addition there are many other analyzes. To analyze it correctly or to increase the percentage of success is difficult.