Bitcoin Forum

BTC Price Statistical Analysis.
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https://i.ibb.co/pK3kvqf/chRt.png (https://ibb.co/94qd9Pb)

according to chart analysis entry should be taken around 2500$ and selling point is around 27700$ which is not bad and thia AI tool is getting data of previous seven days and then gives analysis according to this data. 24900 is the lowest price where btc crashed on 11 sep and this AI table showing same rate and same with selling rate which happened on 30 august. This AI tool is only gives you chart from old rate but btc price depends upon many factors like CPI meeting and other news in the market. Lot of works need for AI in term of trading suggestions and so far manuals analysis is great option.

"Please be aware that you are solely responsible for your investment decision "

This is what I was greated with when I clicked on your link to try and find out what this all about. I tried to copy it directly to quote for reference but I wasn't allowed to do that, why?

I don't feel comfortable why I get such warning so accessing the site further, I got discouraged. So why not paste your discussion here yourself for contribution.

That is just a candle sticks actually and not a real analysis.
You can’t still depend on that Ai generated trading analysis, it is not complete and too risky to follow. I agree that its better to analyze on your own since AI still can’t have a more comprehensive analysis when it comes to trading. Well, many might still try this especially those who are thought to make easy money in trading.

Even the recommendations he made are not accurate. He did the opposite, as if the price reached 27777, it would most likely break the resistance, which means the possibility of testing 30,000 and vice versa. The price momentum has begun to move, but I do not know what level it will reach. We hope that it will break the next barrier, although I think that the slowdown in the rise indicates that correction is coming.

The momentum may have moved but we still have difficulty knowing whether it is just temporary momentum or sustainable momentum to break through the next barrier. Maybe we must be careful for today and tomorrow because we are now at the weekend where there is usually a correction.

Right now, the price looks somewhat stable so there is a possibility that it will decline again but let's hope that doesn't happen. But it could be a downturn if negative news is released that forces Bitcoin prices to decline again.

If you look at the movement of the line, it looks like there will be a decline but the extent of the decline is still difficult to know. Breaking through the price of $30k still seems difficult to achieve because, at least, Bitcoin must stay above $27k for a while. And the important thing is that we are ready for what happens next.

If an AI merely analyze the market in this manner, the winning rate is relatively low. Why? It only use a daily time frame. If you are going to trade, I believe you should look at the higher time frames, such as monthly and weekly, to discover the exact trend. We can't establish the appropriate trend if we go to the lower time frame without first looking at the htf.

We thought the trend was bearish, but when we look at the htf, it's merely a retracement. It is something we should be aware of. If we do not trade against the trend, we have a good chance of winning. Always trade with the trend.

Exceeding the price of $30k is not the problem because we had approached prices of $31k several weeks ago, but the movement towards $30k has become more difficult. Note that we have become difficult to move between 26k and 27k This slow decline will not lead to breaking the $28.5k barrier, let alone $32k. One thousand dollars, so the price will soon lose momentum and decline to $25k.
The continuation of the price above $25K is an indication that even people who have been holding Bitcoin for a long time are still making a profit.


Image source (https://www.fxstreet.com/cryptocurrencies/news/bitcoin-profitable-days-shows-that-in-the-long-run-holding-is-usually-a-solid-strategy-202309192057)

Based on historical data just like several indicators such as EMAs, Volume profiles, Support and resistance levels, so how is this really AI? I think we are getting more and more case where the word Artificial Intelligence is being misused to make users get excited with the recent AI hype.

I don't think anything is special with your tool except just being based on the previous support and resistance levels, which I can also do with my tradingview chart set up.

To find candidate similar charts, we have to use AI which calculate similarity degree between two charts.

Charts are digital data, but they are represented in charts to be easier to display. However, computers understand the data and can easily compare it without the need for artificial intelligence.
Artificial intelligence is developed to improve prediction data when the available data is limited or cannot be obtained, and therefore we resort to guessing values, but what you have done does not require artificial intelligence.

Boss, really?

One of us here definitely does not know what Artificial intelligence is, and I am pretty confident that is not what it does or how it works. What you are talking about is just historical data and this is what technical indicators have been giving us for a long time