Do you trust chart analysts?

[ShadyMash]

Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.

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[Leftneck]

Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.

believe it but not completely. because there are still many ways to find out the price of a coin. for example by knowing news throughout the country. and read the volume of the coin. in my opinion.

[HashFace]

I don’t really trust chart analysis for anything.  It gives you something to think about, but I would not rely on it.

I’ve been watching CNBC for decades and their chart guys are wrong as much as they are right.  In other words, random guess would work as well ... and that is for stocks, where they don’t move nearly as much as crypto. 

I agree with you that crypto seems be driven almost entirely by news, and for the most part moves in unison.  The top 50 or so appear to be highly correlated more often than not.

[btcton]

I believe more than anything that demand and supply run a market in the long run. What happens in the short term is up to people trying (and some being successful) to game the market. In reality, it is quite hard to read the market correctly and only very experienced day traders would be able to do it successfully. Chart analysts follow patterns mostly and try to make sense out of what seems to me to be following the weak-form market hypothesis (https://www.investopedia.com/exam-guide/cfa-level-1/securities-markets/weak-semistrong-strong-emh-efficient-market-hypothesis.asp). Because Bitcoin is much public, it usually reflects all market information except in a few exceptions (see Coinbase in the Bitcoin Cash fiasco). When all the information is present, chart analysts are able to identify patterns with more accuracy, but in the end it all still comes down to just having a best guess. No one can predict the future value of anything with complete confidence.

[Yucatan]

There is a saying - trust no one )
But anyway and always, you need to use charts, news, rumors, inner voice and common sense.

[jseverson]

Data is nice, but it would do well for everyone to note that past performance is not indicative of future results.

The crypto market is speculative, and while some people's predictions could be on point every now and then, it's better to attribute it to luck than anything else. Some speculations are more educated than the others for sure, but in the end, everyone is still just speculating. Never go all-in on the basis of chart analysis.

i think bitcoin price and other crypto price depend on supply,demand and NEWS.

Yep, emphasis on news! Short of an actual working crystal ball, no one can predict what happens in the future, no matter how well decorated they are. It must be noted, however that news isn't truly a deciding factor -- it simply affects demand, which in turn affects prices.

[hachiman13]

I don't fully trust TA, the crypto market is easily swayed by whales and news. But is can still be used as reference if used to a more established cryptocurrencies like eth an btc as they have the least susceptibility to pump and dumps.

[liuqi]

Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.

Who said this chart analyst. First you should think your own chart is a past reference and graph is a present reference but only supply and demand is the exact analyse of Bitcoin price. It is one part of the analysis and something new technology is launching that time Bitcoin server is busy so price fluctuation is happen in the market for example last year December 28 Segwit2X is launched in Crypto market that time Bitcoin value is sudden drop in the market. So we don't analyse the future only you should trust this coin it will make good profit. But news channels are creating curiosity of the cryptocurrency because it is not explained in complete news so many peoples are eagerly waiting for proper news this is not affecting the Bitcoin value. Because most of investors are well known in Cryptocurrency.

[majest3]

I guess it depends on who is doing it and how well they know there stuff. Lots of people out there that have no idea and people blindly follow them. Prices repeat themselves so do patterns and because there is so many traders that believe in it, it becomes a self for filly prophecy . You only need to look at Fibonacci levels and look at how many times a trend reacts at the 61.8% price. Whether you believe in it or not, you have to acknowledge it does get it right at least 50% of the time. If you then use good money management practices, you can make money off that.

[Wind_FURY]

Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.

So you do not trust the hard data in front of you, but you trust the people behind every news? How do we know that the news released are not FUD or hype?

The chart can be interpreted in many ways, but all of them will likely agree that Bitcoin is either bullish or bearish because price data cannot be faked.

[Shreek]

if not with charts, with what do you convince your analysis? I do not fully believe in charts, so I always see also the demand and market conditions.

and traders also always use charts to analyze and then go to market to convince the analysis.

[Thadeous]

Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.

Charts are not for trust, charts are for analysis and individual conclusions.
Charts do not affect market, but simply reflect past trends and behavior.
In fact, charts tell absolutely nothing about the future.

[iryboy]

Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.

When trading I analyze charts myself and normally not trust charts from other people.

[gurunanakji777]

Yes I do agree with your words supply and demand decide the price of crypto currencies. Even I do not fully rely on chart analysis. It gives ideas but It's not guaranteed market will move accordingly. News also plays a major role in the crypto market sometime news gives the direction to the market. This market doesn't works like forex market.

[jaaeeeyyyy]

Charts will not give you accurate informations but will give an idea on how they interpret such data and will take you to their view of points onto something it will depend on you if you are going to believe and trust it. However the creator of chart had an above educational background, that chart would be more effective.

[ChickenDuck]

I don’t think TA really works for crypto, the price of btc is driven by supply vs demand.
If lost of people cash out/take profit then the price will go down, if lost of people buy/HODL then the price will up.

Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.

[krauzzer02]

supply,demand and NEWS.

The first and second points are correct but the third one NEWS? really? some of them is like poison in the community, they keep on spreading false information and chart analysis when it comes to bitcoin, not all of them did the same thing only the bias and one-sided news articles and channels spread the FUD in the community, you can check most of the news online saying that bitcoin bubble just burst to sell it before its too late or the non stop FUD that bitcoin is dead, how many times did bitcoin died from them?

[Marrionbitcoin]

Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.

Yes. You really need to know, believe and understand the chart or graph so that you will have ideas on when is the best time to buy or sell. It shows the historical flows and the average of prices throughout the months and it will really give you information. So, it is better to learn on how to read the graph specially the candle stick. News, can also be helpful to us but you should check if it is reliable because you might ended up in wrong decisions.

[oddwh]

I would say I trust these charts a bit like the meteo    Charts are great to see the trend but we can't give 100% of our faith on it.

I trust these a bit, but I try to make a summary of some charts to see what is the general trendline. Everyone has is own opinion and cannot be fully objective, especially when the chart targets a small altcoin, that's why we must do our own research and opinion. Checking charts from some people and not only one can be a part of this research 

That can be valuable with yourself too, don't only trust yourself, as sometimes our own vision is blinded by what we want to see.

[Hallmader]

Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.

There are some truths in chart analysis although of course it is not 100% accurate. It cannot be that accurate. We have to admit that Bitcoin and altcoins' prices are unpredictable in general. There may be some accuracy but it does not happen all the time and it is only to a certain extent. The supply of crypto does not move anymore. They are fixed. The prices are basically based on the demand. News, updates, and other very important announcements also play a very vital role in the prices of cryptos. But it can also be seen on the charts somehow.