What do I need to trade Cryptos?

Updated

If you doubt about techinical analysis, (thousands of traders trade on technicals, so it works)
Basically what I have found most useful as technical analysis during my trading career are the following factors:

Trendlines, Pivots , EMAs, (Trend, Support and Resistance)
Momentum
and basic chart patterns (Bull flag, Bear Flag) to define an accurate entry and exit point

I have tried thousand of Indicators, complex patterns and everything trying to find the Holy grail or even something near but as you would guess, I failed. The only thing that have worked for me has been these factors metioned above

What about other indicators? As you may know, all other indicators are always delayed and need the price to move in order to react, by that time, it is too late to take the trade.
As per my opinion, you don't need anything else but basic Trendlines , Pivots and in my case EMAs to succeed in your trading career (some other uses SMA instead of EMAs which is also ok).

This does not only apply for Cyrptocurrencies but for any other Techinical analysis (Stocks, futures, Forex)
A part from that, Money management is extremely importan, maybe you have heard it, at least 1:2 Risk/Reward Ratio. YOU MUST BE OBSESSED minimizing Risk!

You only need basic techinicals (those obvious entry and exit points where everybody will buy or everybody will sell) and a good money management

Alberto MT

Note

Following this topic, look how well it is respected the Overall trendlined (Diagonal Blue lines).
Price reached those levels and Massive Resistance is found there (Big Sell off reaching those levels). By now after an aggressive breakout, we would expect a big retracement. It is a like a Rubber band the strongest you stretched, the more aggressive it retraces back.
Overall, What a green day for the BTC.

KarySah

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.