Crypto market is completely different than usual forex market, those technical analysis may not be completely true in case of altcoin trading like in forex but it might help you to some extend. Hypes and Fuds have much larger effect on altcoin market.
The pump and dump mentality rains supreme because of the relatively low market capitalization of most alts and the never ending line of fools ready to follow dreaming to hit it big.
Crypto market is completely different than usual forex market, those technical analysis may not be completely true in case of altcoin trading like in forex but it might help you to some extend. Hypes and Fuds have much larger effect on altcoin market.
This is really correct, technical analysis wont really matter on crypto trading because its different for forex trading.There are some things on crypto that cannot be determined on any technical tools which we do commonly used on forex it might work sometimes but I strongly believe they wont really be needed at all but still a good choice as using it as a tool specially on making some trendlines but for Fibonacci and other stuffs would be useless at all,honestly speaking.
Thanks for your opinion. So if TA is useless for trading altcoins, what is useful and what to use in order to make predictions as accurate as possible ?
Also, do you do altcoin trading?
I do trade, generally going in for longer periods of times (several months) you can do good by understanding the fundamental side of the coin. Other than that its about reading the hype and fud that is peddled on this forum and the poloniex trollbox, and the relevant alt's slack for the most part.