Can we use the same analysis on forex to appropriate our trading on bitcoin like the way gold and US dollar trades same signals.
Did bitcoin has trading signals and indictors different from forex or they're all same signals and indictors but different price movement from bitcoin?
Because forex do not actually include bitcoin signals when trading bitcoin on forex apps. Instance! When you wants to trade forex you can get signals and indictors apps from google play store but no such for bitcoin?
The answer is no. It's just because their volatility isn't the same. So we predict that if your analysis in one specific trading pair is functioning, the other pair is not and will occasionally reach your SL. Aside from that, each trading pair has unique market behavior. As a result, when comparing the two charts, their price action is not the same.
So it is reasonable to always back test the trading pair if it is your first time to make your analysis working.