Topic: Beware of fraud crypto analysts! - page 6. (Read 1645 times)

most influencers are not technical analysts but 'trend anals'
they stupidly just draw a line on a chart based on a random number of days of their choosing of previous trades and pretend that history repeats itself.

these 'trend anals' are better known as pump and dump groups. they are not predicting the future but instead trying to create a narative and hope people program their bots to blindly follow the narrative so that its the followers that create the situation.
thus not predictive but creative

having a line on a chart where the only piece of data it equates to is historic chart data is meaningless.
there are many other things that contribute to making the underlying value such as the cost of creating bitcoin(mining) and other things like monitoring the cold wallets of exchanges to see if they are at high supply or low supply.

however. if you are getting this information from some youtube influencer who spend hours glamourising charts, recording the video and then uploading it. then by the time you have seen it.. the data is old and too late and those who seen it first have already acted on the real information and are most probably just promoting what they desire as the after effect

EG if the price is dipping, they buy.. then they promote it hit bottom and people should then start to buy on the rise.. thus them other people cause the rise. for the initial person to sell at profit..
only after selling at profit would they then say the high hit the top and others should start selling. just so the first person can buy the dip again and repeat.
this is standard pump and dump tactics
so the best advice. dont be a follower, because your going to be the last to know and have most to lose following old data

Be careful of the influencers you follow on social media like twitter. There was one who was exposed recently of photoshopping his trades to fool his followers and get more subscribers to his paid group. He said he did that to make the images look better hehe. Please follow this thread https://twitter.com/Trapouts/status/1238598898559488000

Cointelegraph also covered the story https://cointelegraph.com/news/crypto-analyst-accused-of-photoshopping-trade-screenshots.

There will always be scammers who will take advantage of people's ignorance. Let's prevent that from happening to us by learning how to read charts on our own and not solely rely on free and paid signals from random people on the internet.