Do you believe Technical Analysis?

[Peanutswar]

If you manage to learn with the technical analysis this can be a heads up with your trading potential position you can easily manage to make a profit or to cut your loss. I don't say that the technical analysis is an accurate way but this can be a possible of getting the chance hit the target price, Base on my experience I believe in chart and of course with my knowledge its part of the foundation here if you don't know different techniques and strategy you wont able succeed most of your trades. But the counter part of it is the emotion, the ego of the person to make hold and wait or get fear to lose their money. So decision wise is a must.

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[Gallar]

~Snip

I'd like to pose a new question here.
What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

I personally really agree with this. Because basically human psychology or human habits can be predicted and they can carry out similar habits every day, week, month, even every year. Therefore, in cryptocurrency trading, there are so-called candlesticks or charts that can be analyzed by looking at past history. Although in reality predictions or analysis using candlesticks does not guarantee absolute success. However, many cryptocurrency investors or traders have proven that carrying out technical analysis is highly recommended for trading in the crypto market, so that can increase chances of getting more optimal profits.

Because personally, when I want to buy an altcoin or when monitoring Bitcoin price movements, I personally never miss the use of technical analysis to strengthen predictions regarding the potential price of a coin or regarding the price of Bitcoin. Because in essence, apart from studying sentimental analysis and fundamental analysis, studying or understanding technical analysis is also very important, if you want to be more serious about trading in the crypto market.

[tjtonmoy]

It has been like this for a long time. People still use past data and present market conditions to predict the future of the crypto market. But recently the market has been moving with sentiments. There could be many reasons why this is happening. The increased number of users, increased number of whales, many big companies investing in crypto/Bitcoin, etc. This can affect the market to some extent where people are influenced by it and they make decisions that are not similar to the past performance. That is why the technical analysis has become hard.

But if you still want to get involved in trading, the first thing you need to learn is the analysis of the market. And what better way to do it than technical analysis? To be more exact, this is the base on which your learning is going to be built. The chances of getting a successful prediction are less compared to the past but it still works. The percentage of success has dropped due to sentimental movements in the market but that doesn't stop us from using technical analysis.

[bitLeap]

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

Technical analysis is created to reduce your chances of experiencing losses. So it's not about predicting 100% correctly, this is a careful analysis option based on their past experience which ultimately gave birth to a method for anticipating. It is important to remember that a method can still be an effective method and it may not depend on its implementation. Therefore, analysis creates various types of techniques for reading price movements, this is because price fluctuations are always changing.

[bounceback]

For daily traders, technical analysis is very important and if they stay up late without doing analysis first then it is very likely that they will always lose money while in the market, because so far if we pay attention to the market movements that occur today do not always follow the prices from the previous day and we can say this only in certain events the price of bitcoin will follow its movements as happened in the past.
I believe that trading with technical analysis can provide opportunities for us to earn passive income when trading.

[mindrust]

I do inspect charts sometimes but I never make my decisions solely based on TA. Fundamental Analysis affect my decisions way more than TA. If the fundamentals are not looking good then studying the charts has little or no meaning. Making decisions only based on TA is not a good way to make trades. You might make lots of bad trades that way and making bad trades mean losing money. If you are going to do TA, at least keep it simple. Moving averages and one or two more indicators are enough. You don’t need to know or use every other new indicator out there.

[Lakai01]

It has been like this for a long time. People still use past data and present market conditions to predict the future of the crypto market. But recently the market has been moving with sentiments. There could be many reasons why this is happening. The increased number of users, increased number of whales, many big companies investing in crypto/Bitcoin, etc. This can affect the market to some extent where people are influenced by it and they make decisions that are not similar to the past performance. That is why the technical analysis has become hard.
-snip-

I honestly don't see it that way, no. I have been in the bitcoin market for a very long time and in my opinion we are currently experiencing one of the most stable and least influenced by emotions and feelings overall market sentiment ever.

You only have to look at the news situation and the charts from 2013 or 2017:

• Back then, every little thing was either hyped to push the price up ... or used to send the price down
• Also, one did not have too much opportunity to refer to data from the past (previous halvings, ...) and was therefore much more uncertain on the market - which of course does not mean that one should rely on the coming halving to trigger another bull run. Not at all.

Currently, news such as "India plans to ban Bitcoin possibly or not" is no longer enough to trigger noticeable movements. For this, serious events are actually necessary, such as the FTX collapse.
But what is certainly true: The Bitcoin market is clearly more sentiment-driven than, for example, the gold or real estate market.

[o48o]

-cut-
When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

I believe that there's higher probability of prices going up when there's a right setup on the chart. And that there is a higher probability for the opposite scenario as well. It's just human psychology that if something catastrophic happens, people will sell more just to get out before they lose everything. With the fomo it's the opposite. And wall street market cycle cheat sheet paints pretty accurate human behavior in the market. And markets follow human mass behavior so they are predictable from the psychological standpoint.

That said, I don't trust most the indicators, and imho some are just way too out there for me. But some of them most likely act as self-fulfilling prophecies, as some traders follow them and act on them. I had succesfull trades using fibonacci retrace and stuff like that. And even

[Natalim]

Candlestick and price charts help to make predictions but it doesn't mean that they are going to be 100% accurate or right. Knowing TA is somewhat our advantage in trading but this makes us think that we are going to win the volatility of the market and predict it right because no matter what good we are in TA, things can't be changed as the market remains unpredictable. Well, at least we have some idea of what possibly be going next and are able to anticipate it. We can't make it perfectly but at least we are close to making the right decisions.

[Altryist]

Candlestick and price charts help to make predictions but it doesn't mean that they are going to be 100% accurate or right. Knowing TA is somewhat our advantage in trading but this makes us think that we are going to win the volatility of the market and predict it right because no matter what good we are in TA, things can't be changed as the market remains unpredictable. Well, at least we have some idea of what possibly be going next and are able to anticipate it. We can't make it perfectly but at least we are close to making the right decisions.

Technical analysis can lead us to the conclusion that, what next should happen in a trading pair, but they cannot guarantee us exactly which ones. Therefore, we must approach this issue comprehensively, but TA is something that I use quite often, it is related to market expectations and I think that is why it works.

But manipulators can use this for their own purposes, especially if it concerns some small-capacity coins. Technical analysis will not work for everyone, because I often see (when I watch market analysis) how different traders can interpret one market situation differently, so they will expect different outcomes and act differently based on their assumptions.

[Wexnident]

~

The past records are merely references to what could possibly be, they aren't exactly 100% guides to actually being able to read the future. You can say that the quote you indicated is indeed true, but it's not like it takes into account 100%, it's a zero-sum game, with that result, there were naturally people who were on the opposite spectrum and lost. Due to that, it's natural to see why erratic movement happens, because every investor often changes what they do.

While I do use history to judge the market, I don't exactly use it as a 100% basis for my decision. Well, I actually do DCA so whether I use it or not may not really matter much tbf, but anyway, I also use fundamental analysis, so it depends really. While I do trust it on some level, it doesn't sway my decision 100%.

[knowngunman]

I'd like to pose a new question here.
What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

Using previous charts to predict the future price is a good idea for people that know about the chart but one should also be aware that the past does not always reflect in the future as the case may be. There's no guarantee that the chart movement in the past will repeat itself in the future. Technical analysis is actually good but it should be seen as a probability and not with certainty. Also, using past charts is not for everyone as it require high skills in order to be mastered. Talking about psychology of investors, it's based on personal perspective and not everyone agrees that candle sticks reflect investors psychology. It just depends on how you interpret it.

[justdimin]

It has been like this for a long time. People still use past data and present market conditions to predict the future of the crypto market. But recently the market has been moving with sentiments. There could be many reasons why this is happening. The increased number of users, increased number of whales, many big companies investing in crypto/Bitcoin, etc. This can affect the market to some extent where people are influenced by it and they make decisions that are not similar to the past performance. That is why the technical analysis has become hard.

But if you still want to get involved in trading, the first thing you need to learn is the analysis of the market. And what better way to do it than technical analysis? To be more exact, this is the base on which your learning is going to be built. The chances of getting a successful prediction are less compared to the past but it still works. The percentage of success has dropped due to sentimental movements in the market but that doesn't stop us from using technical analysis.

The insane amount of study that you need to make in order to reach to a good level is important and many people try to skip that part. I have seen someone who studied for 2 weeks and assumed that they were doing good, that's not really how it should be done.

I believe that we are going to end up with some bad results if we are not careful and studying that little means that you are going to end up with a loss. If you really want to end up with some profits you should be making some profit and that should be the most important part. I realize that there are going to be some cases where some people learn it quickly because they dealt with trading before in other stuff, but if you are not like that, take longer time to learn.

[tjtonmoy]

~snip

I am not against someone trying out trading after some days of learning. It is important to have hands-on experience. You never know before you try it out yourself first. And the more you try, the more you get better at trading. Emotion control is important in trading, and if you don't trade, you won't be able to fix that or know how to control it.
So my suggestion for newbie traders is to try it out as fast as you can and always try to find your mistakes. So that in the future you can learn from your mistakes. But the important part is, only use a small amount when you are starting. Learning a little at a time is not a bad thing but stopping after learning that little amount is bad. One should continue learning while they are also implementing that knowledge. There's no limit on how much you can learn. So keep on going until you master it. The moment you stop, other things will keep on happening and you will miss out. The world doesn't stop spinning, so why should you?

[AicecreaME]

If you believe in luck in trading, why not believe more in technical analysis.

Technical analysis increases the chances of predicting the price chart right, it also boost your profit since it's much better rather than just simply deciding a random trade and hoping for a big profit, that would give you only frustration and depression leading to a much more difficult situation in your trading career.

[AliMan]

There's no question about their ability with different aspects of trading and skills they acquire, but I guess that's only for forex trading market. If you apply those skills with respect to cryptocurrency, that's totally different since the behavior of the market is volatile and unpredictable. However, technical analysis coming from experts and geniuses of this field of trading would literally come up a 60-70% chances once that principle will be applied radically.

[khiholangkang]

If you believe in luck in trading, why not believe more in technical analysis.

Technical analysis increases the chances of predicting the price chart right, it also boost your profit since it's much better rather than just simply deciding a random trade and hoping for a big profit, that would give you only frustration and depression leading to a much more difficult situation in your trading career.

Yes, that's right, technical analysis for me personally is to describe analysis and see opportunities at a certain point as a means of weighing before making a decision, and so far it works even though what we produce from technical analysis and the reality of market movements is a little different, but basically we can look at benchmarks for increases and decreases within a certain period of time.

And this is more precisely very useful for those who make short-term investments or trades. In other words, you don't just buy and hope to make a profit with a blind eye to market movements.

[DaMut]

The common response that its a reflection on the psychology of people is true. the thoughts and interpretation of every trader is what is being represented in the charts by candlesticks. Technical Analysis works which i am sure of but it might not be 100% effective and i dont think that any strategy is 100% accurate. if you are technical analysis trader it will help you to be ahead, predict the likely outcomes and make some profits overall depending on how consistent you are with your strategies. once you have the mind that you dont have to be right all the time then you are good to go.

[Mahanton]

Everyone knows that we can learn from the past to correct mistakes.
As a result, many economists attempt to predict the future through history.

We also have a known fact from the past.
The "Bitcoin halving" is correlated with price increases.

I'd like to pose a new question here.
What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

When it comes to type of analysis that could deal with then it would really be just on this two;

1. Fundamental
2. Technical

Fundamentals talking about news and events on the market neither it would really be correlated with those typical economic news and other markets which it do really correlates and connects out on crypto
space or not because having those kind of sentiments could neither be that affecting or not this space on which assuming out that this is really that correlates or connect then it is really that
safe to presume that it wont really be that a bad idea on trying to check out and consider on applying it into your analysis.This is why as a trader or a investor then you would really be needing
to be that versatile.

Now, speaking about TA's? We know that not all the time this market would really be having those kind of news and this is where making use of these tools or indicators would
really be that relevant or something that it is really that recommended on doing so.

[Bananington]

What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

Because many traders believe that history will repeat itself, they behave in line with history and assist history in repeating itself, that is why technical analysis following historical movement of candlesticks repeats itself again. Knowing and putting attention on technical analysis alone may work for you as a trader, but if you do not believe technical analysis and put your attention on Fundamental analysis alone, trading will not really be as successful as it should be. Technical analysis is necessary.