Is Technical Analysis Bullshit or Not?

[LUCKMCFLY]

The technical analysis is only a small approximation to the ideal but not real, because there is no indicator that measures the intentions or emotions of people, whales and all market participants. I am not in favor of a triangle telling me that if it breaks up it is bullish, or if it breaks down in bearish, because it can simply break the triangle up and then fall and vice versa, so I don't believe in technical analysis. I think that there must be a fundamental market analysis with the technician to form a much more powerful tool to attack market movements, taking into account the emotions that whales can cause in others.

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[barbara44]

Everyone can really do technical analysis, just line up something and draw some graphs, and there you have it, you can find the pattern and predict the future price of bitcoin. However, it is more than that, I mean there are so called experts who totally rely on technical analysis.

So I wouldn't say it's bullshit or something, definitely something you can find it very interesting specially if you hit your prediction, however, its not guarantee that the pattern will always works. Most of the time, the sentiments of investors takes over the market.

We cant classify those who are just playing with chart as someone who doing technical analysis , because before you can pickup p those charts to start analysis, you must have been fully trained about it, if you pick chart and start drawing lines, what do they know they will draw, so I would not want to agree that anyone will just pick chart to start drawing without knowing exactly what he or she is doing, except maybe the person is just trying to do some training which will be stupid enough of the person to predict an figure publicly when it is going through test.

Although there are some people that are just realizing some speculation and claiming its analysis, meanwhile they only got those predictions out of assumption, but someone who is well trained In TA will really give an accurate figure.

[imstillthebest]

depends if what is doing the anylysis . if he is a beginer or just a trader wanabee that thinks his pro and he do analysis without taking real efforts about the market and the coin, his analysis will likely going to fail and he can blame the analysis that he made ( calling it bs  )

 but if the analysis came from a pro trader that knows what his doing , there is a high chance that his analysis will be acurate .

[iMark]

Technical analysis isn't bullshit. It is just a basis into where a market will move.
Well, TA is not 100% accurate so don't expect too much on it but to be honest I see some experts traders that are relying on TA.

Agree, without technical analysis then with what will you make the choice to sell and buy? Will you do it without calculation and randomly? of course if you do that it will be the same as gambling right?
Indeed, technical analysis does not fully provide good results, but at least it provides a good picture and prediction for your choice in trade.

[virasog]

Technical analysis and day trading are memes. Try them and give your money to bots and whales.

You cannot say that trading is something with which we cannot gain any profits. I have seen many  traders who become millionaire / billionare only because of the crypto trading. Actually there are many people who come in the trading field without any knowledge and they think that they could earn quickly which is not possible.
Those who are the real traders and have the perfect technical analysis skills, they are still making good profit out of it. First establish your skills, both the technical and  the fundamental analysis and then try your luck in crypto trading .

[pinkpanther03]

Technical analysis is not bullshit to those who understand what trading really is, but of course to anyone who are lack of knowledge about in trading this is obviously a bullshit for them due to they don't have any idea about it. But I'd like to clear that TA is not a 100% will give you profit
because there is no perfect tools for us to make profit in trading.

[kennen1113]

Technical analysis isn't bullshit. It is just a basis into where a market will move.
Well, TA is not 100% accurate so don't expect too much on it but to be honest I see some experts traders that are relying on TA.

Agree, without technical analysis then with what will you make the choice to sell and buy? Will you do it without calculation and randomly? of course if you do that it will be the same as gambling right?
Indeed, technical analysis does not fully provide good results, but at least it provides a good picture and prediction for your choice in trade.

Exactly, although technical analysis does not provide a perfect choice for us but somewhere, it still provides some relative data, and from these data, we will increase our chances of winning, and this is really necessary when we have no basis to rely on. If we just look at the market and randomly choose, everything will be like you say, we are emotional and gambling, and our chances of winning will be very small when this market has too many unexpected situations, there is no basis to rely on, sooner or later, we will be toyed and lost by the market.

[perla]

Technical analysis is not bullshit to those who understand what trading really is, but of course to anyone who are lack of knowledge about in trading this is obviously a bullshit for them due to they don't have any idea about it. But I'd like to clear that TA is not a 100% will give you profit
because there is no perfect tools for us to make profit in trading.

Both technical or maybe our fundamental analysis can really help us, maybe it is right TA is not 100% will give us profit. Because if we can do both, we will be a good trader. Especially if h=we have strong mental as an addition, we can control our mental in every condition of market. If i can be like that, maybe i will be success trader, but not for now because i always panic when my coin dumped or i stuck in a coin and can't sell it.

[Julien_Olynpic]

Technical analysis only gives you the probability of making a profit, but does not guarantee that you will make a profit. If it were so easy, then everything around would be technical analysts. However, there are many people who do not believe in technical analysis. It's hard to say how right they are. Such disputes will last forever

[jhonjhon]

Technical analysis only gives you the probability of making a profit, but does not guarantee that you will make a profit. If it were so easy, then everything around would be technical analysts. However, there are many people who do not believe in technical analysis. It's hard to say how right they are. Such disputes will last forever

We can't tell that, we know people have a lot of differences and the market understanding as well. It (might) become an analyst of our own trades would be that easy, only we don't know how it is effective to find for...I hope it will. The market is often to change and relying on TA's all the times and I may think that it never been effective at all. Loses might we get in the end.

[btcholder]

Interesting post (great for beginners) detailing 3 premises to understand what technical analysis is and how the crypto market works https://www.publish0x.com/crypto-chart-wizard/technical-analysis-bullshit-or-not-xlzvwm

Trading is bullshit if you don't get it perfectly. There is no method perfect for trading. Many people success in trade with this technical analysis, many people see the worst part too. No one can said that he/she didn't see the worst part of trading not even success one. Those people who success today they also face bad time. So in trade anything is possible. If we want success then learn, patient and hard work is best option for us.

[Rubick99]

Technical analysis surely for real, that can work if you understand how candlestick move. For people who frustrated about trading in the market, they will say it bullshit, it can't work, etc.
But technical analysis can't be 100% true that will happen like what we're seeing. Personally, I will enter to market after market in "the end" of bearish market, when people just selling, i will buy for them for a cheap price.

[Rose_btc]

Technical Analysis is a pseudo science. Few traders read the charts so well that I feel surprised how is what is it that made them so sure of that. Once of my close friend is full time trader he says that "charts talk to you, if you build that connect". I am not that fond of candle sticks but, I would never address it as a bullshit as I know the people who have dont incredible trading based on TA.

Profit and loss are part of the game or you can say different faces of coins but that does not mean TA is bullshit.

[dark08]

Underestimate technical analysis at your own perils in crypto currency trading buddy. Despite the fact that fundermental analysis is one of the key factor to be considered, both technical and fundermental analysis must be considered be one can take an informed trading decision for a better outcome.

I agree to you technical analysis is so powerful thats a reason trader want to understand the fundamental analysis to know when the right time to buy/sell. In this kind of situation to bitcoin we already on undecided decision because it can be break or bounce anytime just observe its behavior and a good entry.

[hahay]

Underestimate technical analysis at your own perils in crypto currency trading buddy. Despite the fact that fundermental analysis is one of the key factor to be considered, both technical and fundermental analysis must be considered be one can take an informed trading decision for a better outcome.

I agree to you technical analysis is so powerful thats a reason trader want to understand the fundamental analysis to know when the right time to buy/sell. In this kind of situation to bitcoin we already on undecided decision because it can be break or bounce anytime just observe its behavior and a good entry.

Yes because technical and fundamental analysis about this will be very helpful for us to make better decisions without a doubt because it has a source that at least becomes a reference for us to take a further decision when we worry about the market situation that occurs.

[Bob Smith]

Underestimate technical analysis at your own perils in crypto currency trading buddy. Despite the fact that fundermental analysis is one of the key factor to be considered, both technical and fundermental analysis must be considered be one can take an informed trading decision for a better outcome.

True, a combination of technical analysis and fundamentals is required for successful trading. Bullshit stands nowhere near. Its very important for traders.

[silversurfer1958]

Technical analysis is really needed in the crypto market. The indicators are correct and reflect the short-term direction of the market.
My teachers have earned tens of thousands of dollars in a few months based on indicators.

[TheUltraElite]

If only use technical analysis I think yes its bullshit, but we must combine between technical analysis and Fundamental analysis so that the signal we get is more accurate and precise, although in trading is nothing 100% right according to prediction.

That second part of your statement makes the first part redundant. Nothing is 100% in prediction and that is why it is a prediction. Lets not go into signals here because people reading these will get the wrong idea that they should join signals groups which are scams. Instead what you said about analysis is correct. Although every analysis even if done by your hands should be taken with a grain of salt. However few things can most of the times be predicated nearly making placement of orders easier and ordering funds easier.

This overall makes a trader's life easy if you know how to use them.

[MetalGear]

Interesting post (great for beginners) detailing 3 premises to understand what technical analysis is and how the crypto market works https://www.publish0x.com/crypto-chart-wizard/technical-analysis-bullshit-or-not-xlzvwm

In a way, technical analysis is still usable because of the analysis' evaluation of investments and analyzing statistical trend through their gathered trading activities like volume and price movement so that they can identify trading opportunities, therefore technical analysis isn't bullshit at all, it's just that technical analysis are not that reliable if you're gonna use it for your whole trading cause it might fail as your strategy and might put your trades at risk or worst case, make you lose everything.

[deisik]

people who dont understand technical analysis say its bullshit

people who dont understand investing and trading say investing and trading is a bullshit

The question itself, well, actually both questions quoted are too broad to elicit any definitive answer, like a stringent no or an emphatic yes. For example, following the trend is statistically a winning strategy and finding a trend is surely the task for TA. But does that mean that TA is legit on the whole based on that premise alone? To put it differently, if some of the TA tools and methods are not working most of the time and when they do, they simply follow the broken clock pattern, does it render the whole TA invalid and useless? The point is, if TA helps you earn dough, stick to it. If it doesn't, stick to something else

As the saying goes, if it fits, wear it (and don't ask silly questions)