dear technical analysts, serious question here....

[alexyong342]

With Bitcoin 33% higher, did technical analysis cause the move or are background forces at work?

When trending down, the market is sliding down the slope of hope, and, when trending up, the market is climbing up the wall of worry.

At first glance, sliding down the slope of hope and climbing up the wall of worry don’t seem to impart too much wisdom, but, under the surface, these phrases describe not only crowd behaviour but also one of the biggest causes of the crowd’s losses.

As markets move down, news that has the potential to stop the rout gains more attention. And, as markets move up, news that could end the rally becomes the focus.

The process of sliding down the slope of hope and climbing up the wall of worry is continuous. Even in the sideways accumulation and distribution phases of the price cycle.

The 5% use this process as one of the checks before they take a position because paradoxically all liquid markets, including cryptocurrencies, exhibit the worst news typically portraying a near hopeless situation at major lows, and vice versa, when markets are soaring, and the news is good, when everything looks fantastic, and the thought of a market selling off looks highly unlikely, it’s then that markets typically print major highs.

The catalyst could be exogenous, external to the market, like a natural disaster, a geopolitical shock event, or a cryptocurrency exchange collapse. Or, it could be endogenous, something internal; a shock report exposing corruption within an organisation, an earnings miss or a profit warning.



https://www.altcoinsidekick.com/blog/wonderwall

[franky1]

if your talking about price cycles and trends. you are not a technical analyst your a trend anal


but to put some technicals into the most simplified numbers even a trend anal would understand
over the last 9 months. the bottomline (hidden) support went from $3500-~$5000
over the last 9 months. the volatile price (visible) went from $3600-~$9000-$7800

right now there is ~$2800 of speculative hype

[XinXan]

Technical analysis does influence a lot, however the trend reversal wasn't caused by technical analysis, at least not at first. The recent pullback most likely wasn't caused by TA either, although TA showed that a pullback was needed. It seems like a whale moved 25k BTC and sold most of them which caused the market to crash so it might look like it the responsible was TA but it wasn't. I'm fairly sure that big whales that want to manipulate the market will make sure to time their moves with big TA indicators, for instance if TA is showing a lot of bear pressure they can use that to their advantage and sell a lot of bitcoins which would cause the market to crash much faster and cheaper.

[funchiestz]

Many studies for Bitcoin are in progress. Especially everyone is trying to combine technical analysis and crypto currency.

However, at this point, this market does not provide accurate answers to the analyzes.

[davis196]

With Bitcoin 33% higher, did technical analysis cause the move or are background forces at work?

When trending down, the market is sliding down the slope of hope, and, when trending up, the market is climbing up the wall of worry.

At first glance, sliding down the slope of hope and climbing up the wall of worry don’t seem to impart too much wisdom, but, under the surface, these phrases describe not only crowd behaviour but also one of the biggest causes of the crowd’s losses.

As markets move down, news that has the potential to stop the rout gains more attention. And, as markets move up, news that could end the rally becomes the focus.

The process of sliding down the slope of hope and climbing up the wall of worry is continuous. Even in the sideways accumulation and distribution phases of the price cycle.

The 5% use this process as one of the checks before they take a position because paradoxically all liquid markets, including cryptocurrencies, exhibit the worst news typically portraying a near hopeless situation at major lows, and vice versa, when markets are soaring, and the news is good, when everything looks fantastic, and the thought of a market selling off looks highly unlikely, it’s then that markets typically print major highs.

The catalyst could be exogenous, external to the market, like a natural disaster, a geopolitical shock event, or a cryptocurrency exchange collapse. Or, it could be endogenous, something internal; a shock report exposing corruption within an organisation, an earnings miss or a profit warning.



https://www.altcoinsidekick.com/blog/wonderwall

There are no such things as "slide of hope" and "wall of worry".Those terms exist only in your imagination.
There are factors that will cause panic selling and factors that will cause buying and FOMO.