Do you believe Technical Analysis?

[Bitcoin_people]

We have seen many predictions made about Bitcoin in the past and those predictions have been completely correct. People who do technical analysis have talked a lot about how the candlesticks in the Bitcoin market are reflected. All the chats we see in the past, however, are accurate predictions that are very similar today. I believe that people who have been associated with the Bitcoin market for a long time and know the various market strategies and analysis can predict the future. We can understand what Bitcoin will reach in the future by observing Bitcoin halving events and we believe them. Good predictions are made based on what has happened in Bitcoin history and what will happen in the future, and they are accurate. And many wise people have experimented in various ways about when the price of bitcoin will rise and the predictions are correct and I believe that the predictions of bitcoin are correct.

[m2017]

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?

Of course, I can't know how it really is, but I think that technical analysis is bullshit. If “technical analysis” worked, then all traders would have become rich long ago by making their forecasts based on “past charts (candlesticks)”. But as you can see, for some reason this didn't happen. I assume that this is primarily due to the fact that the future can't be predicted (based on technical analysis), because at any given time, many side events can interfere with the course of events that will change the current exchange rate of cryptocurrencies. There is a human factor in the cryptomarket, which is extremely unstable. Under the influence of the news background, any trader can buy or sell, which will cause a chain reaction, influencing the actions of other cryptomarket participants. It's impossible to predict. Because the cryptomarket, like any market, like the stock market, is a chaos of events. Try to predict this using some kind of chart, the past. This is impossible.

[poodle63]

Technical Analysis is very important for all trader because it predict entry price and zone price is likely to reverse, infact it give a lot of overall view of the market in term of price situation or condition if trending, consolidating and reversal all these are very important aspect of Technical Analysis, however fundamental Analysis drives the market it's causes the price to move with volatility which is very important for traders to take profit quickly therefore I am of the opinion that a trader who rely solely on Technical Analysis should also pay attention to fundamental news that can make or mar the price movement.

Technical analysis works as long as the manipulator allows it to do so. The manipulator has experts in technical analysis at his disposal, so he is always one step ahead. Therefore, you cannot blindly trust technical analysis. You need to be guided by other tools and also trust your intuition

honestly it sounds logical in my thinking, the market could be following technical analysis if the whales says so, after all, what prevent them from taking advantage of the technical analysis by forming exactly the same pattern and just reverse it when the pattern almost formed completely, it would baffle many and give upper hand for those whales.
therefore its also quite hard to see whether technical analysis really help or not because after all everything can be manipulated nowadays.
technical analysis supposed to tell us which direction the market will go but if there's manipulation then it all for naught.

[GreatArkansas]

(....)
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?

I do believe in it even if there's no guarantee, there are already a lot of people making a lot of money or making a living on trading with just technical analysis.
That's why there is risk management, stop losses for being able to let us minimize the risk and maximize the profits.
Since I'm into technical analysis guy I really believe in it.

[Jatiluhung]

We have seen many predictions made about Bitcoin in the past and those predictions have been completely correct. People who do technical analysis have talked a lot about how the candlesticks in the Bitcoin market are reflected. All the chats we see in the past, however, are accurate predictions that are very similar today. I believe that people who have been associated with the Bitcoin market for a long time and know the various market strategies and analysis can predict the future. We can understand what Bitcoin will reach in the future by observing Bitcoin halving events and we believe them. Good predictions are made based on what has happened in Bitcoin history and what will happen in the future, and they are accurate. And many wise people have experimented in various ways about when the price of bitcoin will rise and the predictions are correct and I believe that the predictions of bitcoin are correct.

Technical analysis actually puts more emphasis on studying market movements and everything related to the market that has passed. And yes, halving events and others have become important indicators or important ingredients in technical analysis. Because market movements actually tend to repeat almost similar movements. Because market movements are also based on the habits of people in the market which do not change from time to time. And those who can fully understand the market and study the history of market movements well, they will ultimately be able to make better analysis. Both technically and fundamentally.

[baenschi78]

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."

Past graphs can be used as a reference if the graph has the same patterns and events over and over again and there is a possibility that the same events will repeat themselves.

Your answer is correct, there are many examples of this happening.

[Webetcoins]

We can learn from the past, yes but not in a way that we can follow the past movement of the price because it won't always be followed. There are lots of factors that can affect the price. the number one factor would be is the manipulation. Manipulators disrupts the HODLers so that they will rattle and lose. If it's about Bitcoin halving then maybe we can give an exemption to this because halving decreases the supply of the coin.

The price can always increase no matter what. Candle sticks are mainly used by the traders not investors. Yes, it affects their psychology or decisions based on what they see. There are still other things that they can add before they finally do a move.

[Franctoshi]

I 100% believe in Technical analysis, What can you do in the market in terms of analyzing the trend, past market price movement, and market behavior without the chart patterns, Traders and investors base their predictions on the chart and with the news event. The chart is a representative of information about investors' and traders' views, opinions, or activities in the market trending market.

[Fatunad]

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?

Of course, I can't know how it really is, but I think that technical analysis is bullshit. If “technical analysis” worked, then all traders would have become rich long ago by making their forecasts based on “past charts (candlesticks)”. But as you can see, for some reason this didn't happen. I assume that this is primarily due to the fact that the future can't be predicted (based on technical analysis), because at any given time, many side events can interfere with the course of events that will change the current exchange rate of cryptocurrencies. There is a human factor in the cryptomarket, which is extremely unstable. Under the influence of the news background, any trader can buy or sell, which will cause a chain reaction, influencing the actions of other cryptomarket participants. It's impossible to predict. Because the cryptomarket, like any market, like the stock market, is a chaos of events. Try to predict this using some kind of chart, the past. This is impossible.

It might not work all the time but this is something better that you should really know on the time that you do make trading because we do know that making up some entries or exits without having those kind of consideration or any analysis would really be just that a pure gamble. Its true that precision would really be always in question since prices cant really be just going in line with those indicators been saying but at least on that technical side of it on which we are really that fully aware on what are the possible paths that it would be taking. Even though it is really that hard to prove out its relevance but movements do sometimes do really getting in line with those technical approach on which if people or trader do find out those kind of patterns then they would really be tending to believe and conclude that it is really that something recognizable on doing such action.

In case on that you dont really believe on TA's. Then how you would really be able to predict prices? Via that intuition or some voice into your head?
You arent doing trading but rather you are already doing gambling yet making out some positions without any analysis involved or any technicals around
then its not something that would really be ideal on doing so.

[bettercrypto]

Technical analysis is helpful, although its not 100% accurate to give us profit, but it can give us an idea of the prediction that we can see in the actual chart graph of trading. And of course when we do this there is still a lot to consider.

You know that in this situation we will still use different indicators to find out what we are looking for in actual trading as a trader. So it's really important that we know this in reality if you want to learn to trade and make money from it.

[Biznesmen]

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?

Why do we study history to learn what our ancestors were doing and what mistakes and good things they did? Then learn it, trying not to repeat the mistake they made, and improve our present. Because we know history repeats itself, we should be aware of our past to avoid repeating the same mistakes. The same goes for traders. When we analyze the market, we can be aware of past incidents. When it feels like repeating, we can avoid the mistake and the losses as well. So in my opinion, studying the market through charts is important, as is technological analysis as well. The trend of the market is repeating from the past, and over the years we have witnessed It shows the psychology of investors, and it reflects that nowadays too.

[Renampun]

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?

I'm curious, have you ever learned a little about trading? If you have, you will know how effective technical analysis is in the trading activities that are being carried out. However, it is important to remember that technical analysis alone will not be enough to help a trader get the right decisions in it trading activities, fundamental analysis also helps support the accuracy of technical analysis. Don't just learn one strategy in trading, if you don't want to continually update your knowledge in trading then it will be difficult for you to make the right decisions in trading.

[gunhell16]

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

There is no prediction that is 100% accurate, so the results of technical analysis will be subjective depending on how traders interpret price history which they then process into an entry signal. Actually, it is not a matter of trust but of possibility, in fact traders are very flexible to change the type of analysis used if it is not profitable enough.

Until now, technical analysis has been used by all traders who make money in the crypto business, even when no one can give 100% accuracy that their prediction is correct, because if there is 100% accuracy, then everyone traders have become rich in this industry.

That's why we are predictors and not fortune tellers, because we have many tools that are used to determine the direction we think the price will go. It seems that in our technical analysis that we do, we always have two buying directions, either up or down.

[shinratensei_]

Technical analysis is helpful, although its not 100% accurate to give us profit, but it can give us an idea of the prediction that we can see in the actual chart graph of trading. And of course when we do this there is still a lot to consider.

You know that in this situation we will still use different indicators to find out what we are looking for in actual trading as a trader. So it's really important that we know this in reality if you want to learn to trade and make money from it.

technical analysis is good for short term trading where we are looking at really short time frame here, trying to make profit off the margin at market movement, but we don't really use it for long term honestly.
I think many people are thinking the same way as me, technical analysis for long term prediction is mostly inaccurate, so many things could happen, one major factor that make the prediction fails is the rumour and news along the way that will unexpectedly make prediction invalid.

at the end of the day, the market is purely depend on supply and demand, don't get too fixated into something, because it might not be the answer here.
always try to make judgement towards coins from other perspective.

[HONDACD125]

Why do we study history to learn what our ancestors were doing and what mistakes and good things they did? Then learn it, trying not to repeat the mistake they made, and improve our present. Because we know history repeats itself, we should be aware of our past to avoid repeating the same mistakes. The same goes for traders. When we analyze the market, we can be aware of past incidents. When it feels like repeating, we can avoid the mistake and the losses as well. So in my opinion, studying the market through charts is important, as is technological analysis as well. The trend of the market is repeating from the past, and over the years we have witnessed It shows the psychology of investors, and it reflects that nowadays too.

We look at the record of the past, because we anticipate that it may happen again in the future, but that does not mean that the past repeats itself, something new can happen. It is  possible that what happened in the past may not happen in the future. Just as when Bitcoin was trading between $28k and $29k many analysts and experts were expecting Bitcoin to fall to $20,000,but instead of falling to $20k, Bitcoin crossed $35k.

You are right that chart reading is important but this is a crypto currency market anything can happen. We should not only rely on the past or charts, but prepare ourselves for all kinds of situations. News also has a huge impact on the crypto currency market here and often good news plays a major role in pumping up the crypto currency market and bad news does not spare the market.

[Eternad]

Technical analysis is helpful, although its not 100% accurate to give us profit, but it can give us an idea of the prediction that we can see in the actual chart graph of trading. And of course when we do this there is still a lot to consider.

You know that in this situation we will still use different indicators to find out what we are looking for in actual trading as a trader. So it's really important that we know this in reality if you want to learn to trade and make money from it.

technical analysis is good for short term trading where we are looking at really short time frame here, trying to make profit off the margin at market movement, but we don't really use it for long term honestly.
I think many people are thinking the same way as me, technical analysis for long term prediction is mostly inaccurate, so many things could happen, one major factor that make the prediction fails is the rumour and news along the way that will unexpectedly make prediction invalid.

at the end of the day, the market is purely depend on supply and demand, don't get too fixated into something, because it might not be the answer here.
always try to make judgement towards coins from other perspective.

Technical analysis is both good on long term and short term trade since you can use the time frame to adjust the goal of your analysis. Longer time frame means you are aiming for long term price result and vice versa.

I believe you are pertaining on fundamental analysis which focuses on news about the project that gives impact to the price in short term. Technical analysis has various usability and one of them is to determine the price behavior in long run through the use of old price data.

[TimeTeller]

Technical analysis is helpful, although its not 100% accurate to give us profit, but it can give us an idea of the prediction that we can see in the actual chart graph of trading. And of course when we do this there is still a lot to consider.

You know that in this situation we will still use different indicators to find out what we are looking for in actual trading as a trader. So it's really important that we know this in reality if you want to learn to trade and make money from it.

technical analysis is good for short term trading where we are looking at really short time frame here, trying to make profit off the margin at market movement, but we don't really use it for long term honestly.
I think many people are thinking the same way as me, technical analysis for long term prediction is mostly inaccurate, so many things could happen, one major factor that make the prediction fails is the rumour and news along the way that will unexpectedly make prediction invalid.

at the end of the day, the market is purely depend on supply and demand, don't get too fixated into something, because it might not be the answer here.
always try to make judgement towards coins from other perspective.

The fact that each project has their unique market performance and have their own trend behavior in the trading market,
will be difficult to determine their indicators when it comes to long term prediction.
But having the knowledge of technical analyses would be an advantage in spotting some trends and may help you understand what's going on with its market.

[Amphenomenon]

I believe you are pertaining on fundamental analysis which focuses on news about the project that gives impact to the price in short term. Technical analysis has various usability and one of them is to determine the price behavior in long run through the use of old price data.

True but I will still put fundamental analysis above it because its the news that determine how people relate to the market positively or negatively, in regarding to Bitcoin technical analysis is better since we know Bitcoin is trustworthy but in contrast to crypto space fundamental analysis should be placed above Technical analysis based on the fact that there are too many scam projects

[kingvirtus09]

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?

We can learn not only from wrong decisions or strategies to correct them but also from the right decisions or right strategies that we have made, of course. That means, good or bad, we have the same lesson to learn from these two.

Now, in terms of technical analysis, many people make mistakes here even after they have gone through this lesson. It is because they do not fully understand what they are studying, or they may just have a hard time getting what they are studying to convey because it is different talk when the basis is actual compared to theory.

[Fivestar4everMVP]

Well, like i believe ive said in one of my comments on another board, Bitcoin and cryptocurrency prices in general, are not predictable, or easy to predict, but then, i personally still believe in technical analysis, even though they do not act as a guarantee to correctly predicting the price of a crypto coin, be it a bitcoin or altcoin, the use of it still gives those who know how to effectively and efficiently use it an edge, or a chance at arriving at something that could be close to the price of the coin at the period being research on.

So yeah, even though like i said before, that technical analysis is not a guarantee, as a trader, it's very important to know how to use it, than not knowing it at all, knowing and using technical analysis makes trading way easier, makes it feel more serious and professional, trading without technical analysis, or other vices like news, makes trading feel very boring and more like a gambling.