Technical analysis is 99% a self-fulfilling prophecy by this point.
People look a head-and-shoulders pattern and sell, so the fall in price that they expected to happen does actually end up happening. Then it's extremely hard to find whether the pattern would have been accurate without all these "technical analysts" trying to figure out what'll happen next.
Fundamentals are good and getting better. ETH is already taking a lot of suckers on the ride, but Bitcoin + SegWit = boom.
Topic: Bitcoin Forecast: Not so Optimistic (Read 378 times)
Thank you, glad you found it interesting!
Very interesting analysis. As a newbie in trading this kind of analysis serves to points. See different perspectives from different people and trigger curiosity on studying deeper the technical analysis. Although some say tech analysis is worthless in crypto i found it very useful in my short time and when looking back i see my gains lie mostly when why follow my tech analysis and my losses when i trade emotionally despite what the chart is telling me.
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