Do you trust chart analysts?

[fulmetal08larz]

Admittedly, I sometimes believe in the analysts representation on charts, but there are also times where I do the exact opposite of what they say about their analysis. So far, Bitcoin has an unforeseen future nestled somewhere in time and it has proven its unpredictability throughout the years. This feature of bitcoin is what makes other people attracted to it, falling into a belief that it can make them wealthy overnight, but in reality, it all depends on how they strategize in this volatile market.

[Crasengover]

None of the analysts can predict a coin price for sure. Of course there're some major factors that definitely affect the price, but all the analysis is nothing more than just a guess. The market depends more on news, exchange listings, partnerships, etc. So I prefer to use such news than analysis in my daily trading.

[EmJay]

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.

No one can predict the future of bitcoin but i analysts have an idea. I don't completely believe in them but at least I have also an idea because they also know better than us because they are analysts. In short I am getting an idea from them but not totally believe in what they say as they are also not too sure of what might gonna happen.it is just a predictions or speculations.

[Hillthy]

Sometimes It is impossible to demand perfection and accuracy from them. I have more confidence in the speculation of trade experts than the analyst of the chart. For the cryptocurrency market, fluctuations are affected by a variety of factors. Metrics are sometimes not very effective.

[mahibul49]

YES expert analysers chart is always helpful.crypto trading is not so easy.chart is so good to understand.

[recsoninlight]

I usually checked chart analysts for bitcoin's price, but I don't focus on the recent price of bitcoin to predict the future outcome of the price. I suggest watching bitcoin news to become more aware if the bitcoin's price will go up or down.

[b3llsf1l3s]

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.

Analysis is analysis, its only a prediction for where the charts will going into. Mostly i only use fundamental and news info than just looking at people's chart.

Because recently, i still cant use chart analysis 

[cobeksede]

Until this moment I'm still dizzy with graphics, I do not think so. I rely on imaginary coins to buy

[CarnagexD]

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.

We should definitely have an analysis on ourselves that might help us to decide on the possible transaction we would make. I do not recommend to depends on the article of someone too much but it does not mean that it is not reliable in some point there are people or pages that analyze the real market of bitcoin in the current state.

[karman383]

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.

In stock exchange or commodity exchange, we recoznize two methods of market analysis. There are  Fundamental Analysis and Technical Analysis. In Fundamental Analysis, we study macro economic. There are several factors or economic indicators that can influence why price goes up or down, including supply and demand. This analysis will answer and identify why price move is going up or down, uptrend or down trend. While in the technical analysis, an analyst will study historical data regarding price movement and try to forecast future price movement. These two analysis have been used generally in the world and can guide us to trade or to invest. we have to realize that market analysis is only a prediction and no one can trust it 100 per cent. Decision to follow or to take in trading depends on us.

[Winner]

Trusting on chart analysis is not good but yes getting ideas from their suggestion and their results are good. Otherwise everyone need to keep update itself and find a way that how he can predict price of bitcoin from market condition is best way of prediction of price. Market analyst about price is using their own ideas but mostly they are giving opposite suggestion to one another.

The chart growth is one way to see if the coin is generating any money. If there was no markets then there would be something else to replace those places also the pairing of the coin to fiat/etc.

[sureshotcoin]

Usually Technical analysis don't work in Crypto.  Crypto market is so young to react to charts

[bad_apple]

I trust chart analysts but not 100%, let's say, just 70% of it. Why? Because they're not God actually in the first place so there would be no 100% accuracy onto that when it comes to prices/trends, it's just a matter of reference and idea on when is the right time to buy/sell/trade and how or what to do in case of some problem regarding the trend. Char analysts are helpful but make sure to yourself that you have to be smart and wise when making decisions to avoid serious issues.

[mast3rm1nd]

a lot of people don't me personally I don't day trade in that way and there for I don't really use them a lot. I think that TA is a lot like story telling as it explains the price in the past, but when it comes to predicting the future events sometimes it hit sometimes it's a miss.

[BennyOnions]

It seems that if you zoom in or out a certain amount then you can manipulate what you are trying to show your audience.  It seems like no one really knows when momey will pour in or pull out

[dknight456]

For a long time it has been clear to me that the rules that are usually applied in traditional markets are not in any way applicable to the crypto market, as there seems to be a greater influence of rumors than fundamental or technical issues. That is why we continually see the so-called expert analysts fail again and again in their predictions, even though some of them have eventually succeeded, more due to the mere law of probability than to their supposed analytical capabilities.

[Geoll29]

There are many ways to check the status of bitcoin and the chart is one of the ways to check it. Aside from the chart we can also consult the individuals who already has experience in this type of investment.

[Destined2B_Rich]

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.

Charting is a good way for you to be able to significantly know the movement of the particular coin you are following on the market. It is a good discipline that you always read FUNDA news on the market cap and read charts so that you have guidelines and basis on all of your trades

[gakadem]

right, dont never trust a graph analyst.
because bitcoin is really unpredictable, I am more confident with the discussion in this forum and I analyze bitcoin from everyone post in the forum.
and me make my own analysis.

[Victorycoin]

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.

No one can predict the future of bitcoin but i analysts have an idea. I don't completely believe in them but at least I have also an idea because they also know better than us because they are analysts. In short I am getting an idea from them but not totally believe in what they say as they are also not too sure of what might gonna happen.it is just a predictions or speculations.

Any seasoned trader need no telling that the place of charts and other trading tools is not such to attach or expect 100% trust or confidence. They're simple tools to aid a trader in reaching trading decisions and not the crystal balls newbies and even some experienced traders often take it for. Moreover and more important, they function best when they're combined with others tools to arrive at trading signals that can be said to be credible.