chart reading and prediction

[coinfunda]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

[Oshosondy]

Some people are correct while some are not correct. As some of them are predicting uptrend, some of them at the same time will be predicting downtrend. Then who should we believe? No one. The best is to make your own analysis and believe in yourself.

I can see a guy recently on Twitter that says that bitcoin is going to $5000. Is that possible? That is not possible. I also see the guy posted a chart on Twitter that bitcoin will fall after 2025 halving, but which is not possible.

Anyone can be an analyst as long as he is analysing. Anyone can analyze good or bad.

[hugeblack]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

It is difficult to trust in its accuracy in altcoins market, since only supply and demand control the price directly, but it can be considered an assistant to you in making trading decisions, as it has good accuracy in the long term, and the accuracy decreases as the time period decreases.

In Bitcoin trading, you can start by creating a demo account, searching for people whose analyzes you trust, and then forming your idea about trading. After that, you will be able to draw the same charts yourself and you can rely on them at a rate of:

 - Technical analysis 25%
 - News and analysis 25%
 - Your study of the market and the nature of your risk strategy 25%
 - Your intuition is 25%

Thus, you can get better results in trading.

[dothebeats]

Some are accurate, some are not, and some are just trying to gather audience to make their accounts gain engagements. I'm not one to believe in them fully, I take every predictions and readings with a grain of salt and I think everyone shouldnas well. We need to be critical with this kind of thing cause we can never be too sure.

[Gladitorcomeback]

These analysis is basic tools when someone start trading btc but it is just prediction on the base of previous history and marketcap of the coin. As far learning purpose some of videos are useful but for trading everyone has own strategy and way of analysis and there is no guarantee that any one analysis will also work for you.

I know many Youtubers and twitter influencers who is just doing just for views and community interection, some of them will make daily 2-3 videos and if any of their analysis become true they will shill it again and again. Analysis is just one factor for predicting btc As hugeblack mentioned, other factor are also involved and we have to look for all these factors when we trade btc

[superman184]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

I don't trust price charts made by other people, because when they are wrong and we experience losses because we follow the graph lines made by other people. We cannot blame the person because we must bear all the losses ourselves. So that's why I still don't believe in chart lines made by other people and besides that, I also rarely trade for a long time, which makes me less interested in understanding prediction lines for various cryptocurrencies up to now.

[cafter]

In  their so called "technical analysis" anything is possible if they want to make chart look like bullish then they can draw lines which shows the market will be bullish, at the same time other charter wants to show it bearish he can show bearish by drawing more some lines, means the charting is just speculating the future prices without solid fundamental reason for why the price will go up or down.
But in short time frame it works because lots of bots with huge liquidity are trading at this breakouts, breakdowns, macd, rsi, etc.  

[Y3shot]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

Many who predict chart on social media don't really know what they are doing but the essence for them doing is just to get audience that can generate income for them. One thing about chart reading and prediction, it is something traders are much interested to know when they see it. Some people just predict it inaccurately just for the  interest they will gain from it, it is important for people to know who they can take price chart from because taking the wrong one can lead to massive loss, traders should not see any price charts predicted as ultentic, most of them are wrong.

[Oshosondy]

Some are accurate, some are not, and some are just trying to gather audience to make their accounts gain engagements. I'm not one to believe in them fully, I take every predictions and readings with a grain of salt and I think everyone shouldnas well. We need to be critical with this kind of thing cause we can never be too sure.

Most of the analyses are for self profits, in a way they will make money from it. Some that are accurate is not that the people that get it right are able to be accurate, but just that the market go towards the direction they take, it can be opposite next time. With how the analyses have been, I do not read about it again for me not to be disappointed. The worst are signal providers that only care about their pockets.

[Bureau]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

If you are referring to Bitcoin then it is not that easy. Just by reading the charts it won't be easy to predict Bitcoin. News is another aspect to consider to determine the hype. I haven't seen anyone being able to closely forecast Bitcoin price and how it will react.

If you are a shit coin trader, Twitter is the place where you need to be. Follow a few market influencers such as Elon Musk and you might be able to make profits. No, guarantee whether your investment would reach the moon, you can lose everything you invest.

[Kelvinid]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

Charts show what is happening on the market but people may have different opinions and predictions because that will be based on their interpretation of the market trend. Of course, the chart but not fully to the person who interprets, I'd rather make my own than others. But also, we can't assure that we are right because predictions often go wrong due to the unpredictable nature of the market, so we never have to expect to be right.

[Don Pedro Dinero]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

No, basically because after seeing so many failed predictions, some of them very sophisticated, I don't believe that any one is more reliable than another. If you've been doing this for a while you get an idea of where the price will go in the next few years, but so do they, no matter how sophisticated their prediction. In addition, many of them make these predictions because they usually make money with the visits, and if they don't make money they are still looking for popularity, which encourages them to make predictions every now and then. If they paid me well, I would do it too.

[Blitzboy]

Always doubt, pal. Everybody has a hypothesis, pattern, or secret, dont they? A chart cant tell you everything, especially if its from someone else

I'll tell you what I do believe in - my own analysis. I analyze and draw my own judgments after looking closely. I ignore the noises of opinions on the internet. Why? Because everyone's got a motive, and its rarely in your best interest

Do your own research, be skeptical of online projections, and arm yourself with facts in a world of misinformation. Maintain an open mind, healthy skepticism, and choice freedom. And chart reading is not that hard, so spend some time to learn them

[mindrust]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

No. Chart reading is basically fortune telling. What you guessed may or may not happen in the future. Nobody can know it. If it was possible to make educated guesses by looking at charts, everyone would do it and everyone would become rich. Do you know a trader who is making 100% right guesses? Of course no. There are some people that make more good guesses but give enough time they will become losers too. (Assuming that they are making their guesses only by looking at charts) The truth is, successful traders use lots of other information too. They follow the news and sometimes they get insider information. Charts don’t tell you all that.

[Kelward]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

It is difficult to trust in its accuracy in altcoins market, since only supply and demand control the price directly, but it can be considered an assistant to you in making trading decisions, as it has good accuracy in the long term, and the accuracy decreases as the time period decreases.

In Bitcoin trading, you can start by creating a demo account, searching for people whose analyzes you trust, and then forming your idea about trading. After that, you will be able to draw the same charts yourself and you can rely on them at a rate of:

 - Technical analysis 25%
 - News and analysis 25%
 - Your study of the market and the nature of your risk strategy 25%
 - Your intuition is 25%

Thus, you can get better results in trading.

Truly it is difficult to trust the accuracy of charts in bitcoin, because of it's volatility, reason why different people comes with their different perspectives of charts. In the end the unforseen factors of supply and demand in the market might swing to a different
unexpected dimension that is not expected, so it is best to take charts as advice rather than facts.

I can relate with your mathematical analyses of viewing charts, because a person needs to put some factors together in order to arrive at a decision. Charts are predictions to determine future occurrences, therefore, someone needs to have a formula that serves as a guide to arrive at the decision. Bitcoin price fluctuation as we know is quite unpredictable, so after taking analysis from different sources, this your 4/100 equation can guide the person to arrive at his own chart.

[famososMuertos]

I don't understand how there are people who follow these analyzes without them learning/understanding it first.

You should always see them and analyze them first, then you compare your analyzes with those of these people, and you can qualify how good you are or how much of a liar these so-called "experts" are.

[Smartvirus]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

Would you rather believe in your guts or expectations and just jump on a trade without having any logical explanation as to why?

The charts is what we’ve got. Getting to define those support level and resistance level to the candles, using your trend line and RSI to determine direction and strength of the persistent side in the market (bulls or bears). At least, it makes more sense than just jumping in and placing trades based on sentiments.

I don't understand how there are people who follow these analyzes without them learning/understanding it first.

Being able to deduct the codings in an analysis simply means you understand it. At least to some level but, the point should be, you having to be the one that comes up with the analysis.
Those that might just follow without understanding are traders and it could easily be an issue of the blind, leading the blind.

[Silberman]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

It is not a matter of believing, it is a matter of demonstrating your results with facts, it is the easiest thing in the world to draw a few lines over a chart and make a prediction, however how accurate are your predictions? How much money you can make with them? How much money do you lose with them? What methodology was used to create that prediction? Those are all questions that need to be answered by the ones speculating with the price otherwise you should not bother about anything they say about the markets.

[usekevin]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

The chart in the trading application is enough to predict the coin movement.The analytical skill was essential one for the trading,the time need to spend on the trading.The person who learned good trading knowledge had an capacity to earn more money from the trading.If the trader at the initial stage and not ready to spend money to learn trading.Then they will not able to earn from the trading,the better option for him to move to the other business.All the social media now helping the people to learn trading,the trader should ready to spend the time on learning.

[KingsDen]

everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?

Obviously there are too many chart reading on the internet. Most of these readings are not close to being accurate and were just generated based on unrealistic values. It is a few of these very reading that are correct and near the estimated prediction. And that is why it is called speculation and no one uses that as a fundamental basics for their investment. The best way to survive, is to listen to all the craps and then do your analysis by yourself. With your own research you come to your own conclusion of making any decision that is relating the cryptocurrency.
If you are not very good with the charts, atleast try to be knowledgeable with the fundamentals, so that you will not be taken totally unaware by the market.