Bitcoin Forum

What do you think of newsbtc's technical analysis?
Does it have basis for us to believe?
http://www.newsbtc.com/2015/03/19/bitcoin-price-technical-analysis-for-1932015-rebound-likely/

Nope.

I have seen plenty of news sites trying to predict the price and trying to read every line in the chart, etc. And all are wrong most of the time  :D

Cryptocoinsnews.com for example fits exactly in this picture. If the price goes up, an article pops up saying 'Bitcoin will advance to new levels' bla bla bla.

If the price goes down another article pops up saying 'Bitcoin heading down trying to find new bottom' bla bla bla.

At some point they will be lucky and their prediction will come true. That's not because they are good analists, but pure because of the luck factor.

Any forecast is just an educated guess. There are way too many variables to account for. If your guess is highly educated you might get lucky, but I suspect most highly educated guessers are spending their time in exchanges making money rather than writing articles.

No one can really predict the market.  Take that article with a grain of salt.

I don't think nothing, it is only an "useless" opinion. As the other forum users said : no one can predict how much the bitcoin price will arrive, it is only a supposition. No one can predict the future, this is obvious ... isn't it?

Even if they managed to get 60% success rate on their predictions I still think they would be better off earning money from trading rather than writing some articles. I notice that most of the time the news coverage will be written in a way that follow based on the current trend but somehow it will still go wrong. Nobody can really know how low of the low it will get and how high of the high it will get.