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  • #61
  • Mar 13, 2021 5:11am Mar 13, 2021 5:11am
Quoting TaoTrader
{quote} I can't speak for anyone else here, but I'm a swing trader, and I use a combination of fundamentals & technicals. Bitcoin defies technical analysis whenever it feels like it also LOL
Btc works great on technical analysis. Countless examples if you see the chart.
Perfection is the enemy of good enough!
  • #62
  • Mar 13, 2021 5:14am Mar 13, 2021 5:14am
Fundamentals in crypto are useless.
persistence and determination alone are omnipotent
  • #63
  • Mar 13, 2021 5:17am Mar 13, 2021 5:17am
Quoting MichaelSch
{quote} Btc works great on technical analysis. Countless examples if you see the chart.
What I mean is it defies a lot of trading systems. My own trading method gets disrupted regularly when the price swings up or down a large amount. In general I would agree with you though. A lot of people look for certain technical signals to enter or exit a trade. Sometimes trading systems advise you not to enter a trade if a movement up or down is overbought or oversold. That's really what I was trying to say. Bitcoin will stay overbought or oversold for a certain period at a time, and it will scare people into or out of the market. I don't see this happening with Forex at all, unless its something major like with Brexit. I was trading the night of the vote and the price moved 2000 pips in one second. How would you decide on an entry or exit signal like that?
  • #64
  • Mar 13, 2021 5:29am Mar 13, 2021 5:29am
Quoting Ll1979
Fundamentals in crypto are useless.
I'm looking into creating my own cryptocurrency as I'm a software engineer. I assure you fundamentals are vital to trading crypto, unless you are a scalper who just wants to gain a few pips here or there.
  • #65
  • Mar 13, 2021 5:30am Mar 13, 2021 5:30am
Quoting TaoTrader
{quote} What I mean is it defies a lot of trading systems. My own trading method gets disrupted regularly when the price swings up or down a large amount. In general I would agree with you though. A lot of people look for certain technical signals to enter or exit a trade. Sometimes trading systems advise you not to enter a trade if a movement up or down is overbought or oversold. That's really what I was trying to say. Bitcoin will stay overbought or oversold for a certain period at a time, and it will scare people into or out of the market. I...
Every time this can happen. Make it technical analysis useless without combination of fundamental news? If you are happy to be in a huge positive profit you will only say this was respecting the fact of fundamentals? What about this? Fundamentals tell you stay on the sideline, but technicals say go. What will you do? You will not know if you are out of a good trade or out of a bad one. I learned to use a clean way between watching chart to my entry.
Perfection is the enemy of good enough!
  • #66
  • Mar 13, 2021 5:34am Mar 13, 2021 5:34am
Quoting MichaelSch
{quote} Every time this can happen. Make it technical analysis useless without combination of fundamental news? If you are happy to be in a huge positive profit you will only say this was respecting the fact of fundamentals? What about this? Fundamentals tell you stay on the sideline, but technicals say go. What will you do? You will not know if you are out of a good trade or out of a bad one. I learned to use a clean way between watching chart to my entry.
Sorry I'm not exactly following what you are saying.....I use fundamental and technical analysis all the time, but I don't think I have ever entered a Forex trade purely based on fundamental analysis. I DO think you can trade Bitcoin on fundamental analysis alone though, which I would not say about Forex or any other cryptocurrency. I prefer technical analysis with Bitcoin AND with Forex. But I'm trying to help educate the inexperienced traders here, so I'm advising all of them to use both forms of analysis.
  • #67
  • Mar 13, 2021 5:37am Mar 13, 2021 5:37am
Quoting TaoTrader
{quote} I'm looking into creating my own cryptocurrency as I'm a software engineer. I assure you fundamentals are vital to trading crypto, unless you are a scalper who just wants to gain a few pips here or there.
Perhaps we have different understanding of the fundamentals part.

What is the intrinsic value of ETH for example? It's all supply and demand.
persistence and determination alone are omnipotent
  • #68
  • Mar 13, 2021 5:46am Mar 13, 2021 5:46am
Quoting Ll1979
{quote} Perhaps we have different understanding of the fundamentals part. What is the intrinsic value of ETH for example? It's all supply and demand.
Perhaps. Technical analysis in my opinion unfolds organically in recurring patterns, which we can see all the time in the charts. What you see in the technicals is not simply random price action, but it is a reflection of what the market fundamentals are doing. As far as ETH, yes if its intrinsic value is supply and demand then I agree you are talking about fundamental analysis. What I'm saying is I would not be confident to trade Ethereum as a swing trader based on fundamentals alone. I would also use technical analysis. I think Bitcoin behaves much differently, because it dominates the market and has no competition among other cryptos.
  • #69
  • Mar 13, 2021 5:53am Mar 13, 2021 5:53am
Quoting Ll1979
{quote} Perhaps we have different understanding of the fundamentals part. What is the intrinsic value of ETH for example? It's all supply and demand.
Oops were you trying to say supply and demand is technical analysis? Because its fundamental.....
  • #70
  • Mar 13, 2021 5:57am Mar 13, 2021 5:57am
Quoting TaoTrader
{quote} Perhaps. Technical analysis in my opinion unfolds organically in recurring patterns, which we can see all the time in the charts. What you see in the technicals is not simply random price action, but it is a reflection of what the market fundamentals are doing. As far as ETH, yes if its intrinsic value is supply and demand then I agree you are talking about fundamental analysis. What I'm saying is I would not be confident to trade Ethereum as a swing trader based on fundamentals alone. I would also use technical analysis. I think Bitcoin...
Bitcoin is indeed a class of it's own and in some way comparable with Gold as an asset class or hedge against inflation.
persistence and determination alone are omnipotent
  • #71
  • Mar 13, 2021 6:01am Mar 13, 2021 6:01am
What can be done here? What are the news telling before?
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Perfection is the enemy of good enough!
  • #72
  • Mar 13, 2021 6:03am Mar 13, 2021 6:03am
Quoting TaoTrader
{quote} Oops were you trying to say supply and demand is technical analysis? Because its fundamental.....
All i wanna say you can't figure out what's the value of a coin like a normal stock. So it's all comes down to TA -> supply and demand aka feer and greed.
persistence and determination alone are omnipotent
  • #73
  • Mar 13, 2021 6:08am Mar 13, 2021 6:08am
Quoting MichaelSch
What can be done here? What are the news telling before? {image}
There was a technical signal with a cup w handle pattern. There are also many bullish fundamentals today for this upward move.
  • #74
  • Mar 13, 2021 6:09am Mar 13, 2021 6:09am
Quoting Ll1979
{quote} All i wanna say you can't figure out what's the value of a coin like a normal stock. So it's all comes down to TA -> supply and demand aka feer and greed.
I agree with you.......I agree that supply and demand translates into technical analysis eventually. How else would all us small traders even be in the market. We need to look at the charts LOL. I just think there's more involved though.
  • #75
  • Mar 13, 2021 6:23am Mar 13, 2021 6:23am
Quoting TaoTrader
{quote} There was a technical signal with a cup w handle pattern. There are also many bullish fundamentals today for this upward move.
I don't understand. In forex you have fundamental new GDP, NFP, etc., in crypto you don't have fundamental new.
  • #76
  • Edited 7:12am Mar 13, 2021 6:32am | Edited 7:12am
Quoting Tim_isoara
{quote} I don't understand. In forex you have fundamental new GDP, NFP, etc., in crypto you don't have fundamental new.
Fundamentals are everything outside of the technicals you see in the charts. Technicals do not exist without fundamentals and vice versa. They support each other. It's always been that way. People just have a tendency to isolate one or the other. You are probably thinking of a certain kind of fundamental news event. Like the Nonfarmers payroll which comes out every month. That's just one type of fundamental news. I think a lot of people also tend to not fully understand what fundamental analysis includes. If you are inside the chart looking for your entry and exit signal, you are trading technicals. If you are using anything else in addition to this, you are also trading on fundamentals. It's really that simple. Some might say no that's wrong, but that's really just a nuanced way of looking at it. Supply and demand is a long standing fundamental analysis indicator, for example. But some people view it as technical analysis. I try to keep it simple. Inside your charts is technical analysis, outside of them is fundamental. This is how I usually explain it for inexperienced traders.
  • #77
  • Mar 13, 2021 6:45am Mar 13, 2021 6:45am
Quoting TaoTrader
{quote} Fundamentals are everything outside of the technicals you see in the charts. Technicals do not exist without fundamentals and vice versa. They support each other. It's always been that way. People just have a tendency to isolate one or the other. You are probably thinking of a certain kind of fundamental news event. Like the Nonfarmers payroll which comes out every month. That's just one type of fundamental news. I think a lot of people also tend to not fully understand what fundamental analysis includes. If you are inside the chart looking...
Ok. Today, what was fundamental news for bitcoin go up?
  • #78
  • Mar 13, 2021 6:49am Mar 13, 2021 6:49am
Quoting Tim_isoara
{quote} I don't understand. In forex you have fundamental new GDP, NFP, etc., in crypto you don't have fundamental new.
Another example about crypto fundamentals is related to the crypto project itself. The team working on the project, whether it is stable, whether it is stagnant, whether it is growing. How is it being used? Is it over or undervalued? How many real world uses does the crypto actually have? This is what makes Bitcoin the dominant crypto. Another question for fundamentals is what kind of competition does the crypto have? I'm aware that the long held view of crypto by a lot of people is that it lacks fundamentals. But that is just an opinion formed by those who lack an understanding of what crypto is. It's not just something you trade online. Each crypto started as a project, they all exist for a specific purpose, and they all have real world uses. Even DOGE coin has a real world use. This is a fundamental indicator.
  • #79
  • Mar 13, 2021 7:00am Mar 13, 2021 7:00am
Quoting TaoTrader
{quote} Another example about crypto fundamentals is related to the crypto project itself. The team working on the project, whether it is stable, whether it is stagnant, whether it is growing. How is it being used? Is it over or undervalued? How many real world uses does the crypto actually have? This is what makes Bitcoin the dominant crypto. Another question for fundamentals is what kind of competition does the crypto have? I'm aware that the long held view of crypto by a lot of people is that it lacks fundamentals. But that is just an opinion...
OK. Today, what fundamental move bitcoin up?
  • #80
  • Mar 13, 2021 7:04am Mar 13, 2021 7:04am
Quoting Tim_isoara
{quote} OK. Today, what fundamental move bitcoin up?
The news of the US stimulus package and money hitting the bank accounts of US citizens today is bullish news for Bitcoin.
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