Admittedly, there is a reason for this. But other equally experienced traders believe that technical analysis remains an actual tool for working with such a specific tool. It is applicable for Bitcoin, as well as for any other currency and stock markets. But due to the low liquidity on cryptocurrency exchanges, the use of technical analysis has its own characteristics. In some situations, technical analysis can be even more useful for Bitcoin than for other assets. Because there is a very dynamic news flow and high volatility in this market. In addition, a series of the biggest highs and lows of prices on the chart emphasize the mood in the market. As the experience of previous years shows, price changes in the digital currency market can be very powerful.
In any case, before placing an order on the exchange, you need to know where to beign learning about crypto currency , conduct a thorough technical and fundamental analysis of the situation, and only if there are two or more confirming signals to enter the market. Now we can say that the Bitcoin exchange rate is highly dependent on the headlines in the leading media and crypto traders often make decisions only depending on positive or negative news. Therefore, a “technical” trader has a chance to react more carefully and independently of other people’s opinions.
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