chart reading and prediction | Bitcointalksearch.org

gunhell16

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Quote from: Silberman on October 05, 2023, 02:52:03 AM

Quote from: gunhell16 on October 04, 2023, 05:53:22 PM

Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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 question is, can you read the chart when you are on an exchange site platform? Because if you don't know or have no idea how to understand it, it's obvious that you're either a newbie or you're just basing your trading income on guesswork and luck. In short, you're just pretending to be a trader just to make others think you're a crypto trader. That's how it used to be for me.

But do you know that an individual trader who enters crypto trading must be able to read? For that to happen, you must first learn the basics of trading and also know at least some of the tools here, because this is what we will use to identify the direction in which the price of a crypto that we want to trade is likely to go.

The knowledge most traders have about trading in general is too shallow, lets look a one of the most simple indicators that exist, the simple moving average, also known as SMA, many traders use this indicator, but do they truly understand it? Do they know how it is calculated? Can they calculate it by hand? What is supposed to indicate? How it can be used with other indicators to produce accurate signals? What other indicators use the SMA as part of their own formulas? Very few people can answer those questions, and with this in mind it is not really surprising those people get poor results.

These questions you mentioned are mostly newbies or even if they are not newbies, they still don't know the questions you said. Because others thought that this is how Bitcoin trading is done in this field of industry, actually.

Basic things that they should have known first, but because they are in a hurry to get income, they always end up losing and making useless hasty decisions. They didn't think that before they can drive a car, they must first know the basics, what is the basic so they can drive a car, first they must have a license, and once they have it, they must know how to drive or the car will move forward. First, safety must be first, wear the seatbelt, start the car with the key, know how to use the parts in the car, the same should be done in trading, you also need to know how to use the tool indicators to predict the direction the price will go. value when they trade.

justdimin

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Quote from: jaberwock on September 29, 2023, 10:23:40 AM

Quote from: Mpamaegbu on September 28, 2023, 09:03:03 AM

Now is a safe time to make predictions to the upside. It's safe in the sense that we're in expectation of a bull rally occasioned by the incoming Bitcoin halving next year. Many influencers cum analysts are capitalising on this to put up figures. They will be right, eventually. It's not a bad thing to FOMO, just like it isn't to also FUD. However, one thing should be taken into cognizance and that's not to follow anyone's prediction blindly. Everyone should figure out what level they will exit after investing now. It's uptrend for Bitcoin. Don't be deterred by whatever dip you see now. It's minor price correction.

It's true that it looks like we are going to end up with some good results and it should be important to realize that you are going to end up making profits if you end up buying right now. Plenty of people are still waiting, and I do not get that idea, you do not have to see it going super high before you buy, that would be quite late and you shouldn2t do that, you should be buying right now so that you could profit when it goes super high.

I know that market doesn't work that way and in order to go from 50k to 100k, we need people buying at 99k to take it to 100k, so that means we need people buying at the top as well, or at least near the peak. However, we do not have to let it be under 30k right now neither.

It's true that buying right now should be providing some decent profits to people, but I think not everyone is ready just yet. We need to let them be for a while and they could do a lot better on the long run, it could end up with something that should be profitable to them if they know what they are doing.

I get that life is not all that simple but we can't just let people make decisions based on what we think, it's our thoughts and they have their own and if they think that they are going to profit a lot more by waiting and seeing it move first then we should let them do that. I agree that the market needs people who buy at the top as well, so we need those people and if they are fine that way then let them do what they want to do.

Silberman

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Quote from: gunhell16 on October 04, 2023, 05:53:22 PM

Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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 question is, can you read the chart when you are on an exchange site platform? Because if you don't know or have no idea how to understand it, it's obvious that you're either a newbie or you're just basing your trading income on guesswork and luck. In short, you're just pretending to be a trader just to make others think you're a crypto trader. That's how it used to be for me.

But do you know that an individual trader who enters crypto trading must be able to read? For that to happen, you must first learn the basics of trading and also know at least some of the tools here, because this is what we will use to identify the direction in which the price of a crypto that we want to trade is likely to go.

The knowledge most traders have about trading in general is too shallow, lets look a one of the most simple indicators that exist, the simple moving average, also known as SMA, many traders use this indicator, but do they truly understand it? Do they know how it is calculated? Can they calculate it by hand? What is supposed to indicate? How it can be used with other indicators to produce accurate signals? What other indicators use the SMA as part of their own formulas? Very few people can answer those questions, and with this in mind it is not really surprising those people get poor results.

gunhell16

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Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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 question is, can you read the chart when you are on an exchange site platform? Because if you don't know or have no idea how to understand it, it's obvious that you're either a newbie or you're just basing your trading income on guesswork and luck. In short, you're just pretending to be a trader just to make others think you're a crypto trader. That's how it used to be for me.

But do you know that an individual trader who enters crypto trading must be able to read? For that to happen, you must first learn the basics of trading and also know at least some of the tools here, because this is what we will use to identify the direction in which the price of a crypto that we want to trade is likely to go.

dunfida

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Quote from: cafter on October 03, 2023, 04:32:03 PM

Quote from: BigBos on October 03, 2023, 09:25:00 AM

Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

When influencers provide content related to crypto price predictions, I prefer to use their knowledge and make it a new insight, not use it as a benchmark or belief that we don't research more deeply. Because in terms of determining predictions we will again be faced with the decision to buy or not, to invest in crypto or not. So my advice is that you only need to take positive points like the methods they apply. Because that's just what we need to take, not believe it without reconsidering the decision. One more thing that influencers do when they predict is usually for commercial purposes, namely being paid so that what they talk about becomes profitable because it has attracted beginners to enter.

It's really important to be careful when it comes to crypto and investing. Don't just blindly trust anyone, no matter if it's an influencer, big company, or even just a person with good intentions. It's hard to predict what the future holds for stocks and cryptocurrencies, so it's important to do your research and make sure you know what you're getting into. YouTube and other social media platforms have become a hotbed for crypto promotion, but not everyone has your best interests at heart. You might see "shitcoins" being promoted or people getting paid to promote shady projects, which can be really risky for new investors. Don't just jump into something just because you see it online - do your research and learn more about the technology, team, use case, and long-term potential. Your financial security should always come first.

The thing here is that on the time that you are just basing up or depending on your analysis then it wont really be giving out that kind of regret unlike when you do follow someone and really did get their analysis and follow

it into your trades and ending up on a losing one then the feeling of regret is really that extreme on which this is something that not really give out that kind of good feeling.Nothing beats out if you do simply rely with your
own analysis rather than on being that too reliant or dependent with other peoples analysis. Its true that we are all speculators on here, and it doesnt matter whether those price increase claims and predictions do came from known people or companies on which getting in line with their suggestions or price predictions arent assurance that they would happen. We are all speculators here on this crypto world on which price will really be
only determine by the demand and some factors on which there's no way that it could really be predicted.

Chart reading might be that hard but it does takes time for you to have a good grasps to it and this is where effort and hardwork would count because chart reading and trying to
see those indicators and other tools does really that sufficient knowledge.

cafter

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Quote from: BigBos on October 03, 2023, 09:25:00 AM

Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

When influencers provide content related to crypto price predictions, I prefer to use their knowledge and make it a new insight, not use it as a benchmark or belief that we don't research more deeply. Because in terms of determining predictions we will again be faced with the decision to buy or not, to invest in crypto or not. So my advice is that you only need to take positive points like the methods they apply. Because that's just what we need to take, not believe it without reconsidering the decision. One more thing that influencers do when they predict is usually for commercial purposes, namely being paid so that what they talk about becomes profitable because it has attracted beginners to enter.

It's really important to be careful when it comes to crypto and investing. Don't just blindly trust anyone, no matter if it's an influencer, big company, or even just a person with good intentions. It's hard to predict what the future holds for stocks and cryptocurrencies, so it's important to do your research and make sure you know what you're getting into. YouTube and other social media platforms have become a hotbed for crypto promotion, but not everyone has your best interests at heart. You might see "shitcoins" being promoted or people getting paid to promote shady projects, which can be really risky for new investors. Don't just jump into something just because you see it online - do your research and learn more about the technology, team, use case, and long-term potential. Your financial security should always come first.

BigBos

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Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

When influencers provide content related to crypto price predictions, I prefer to use their knowledge and make it a new insight, not use it as a benchmark or belief that we don't research more deeply. Because in terms of determining predictions we will again be faced with the decision to buy or not, to invest in crypto or not. So my advice is that you only need to take positive points like the methods they apply. Because that's just what we need to take, not believe it without reconsidering the decision. One more thing that influencers do when they predict is usually for commercial purposes, namely being paid so that what they talk about becomes profitable because it has attracted beginners to enter.

stadus

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Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

Their predictions are not the same, though. Of course, few of them are right. Personally, I believe in them, especially if my analysis would align with theirs. I mean, we don't have to follow them blindly; we can only agree if their technical analysis is backed by various reasons or factors that would affect the price movement going towards the price movement they are predicting.

Any platform is useful; there are lots of traders who make vlogs for content. But you can easily spot those who have good analysis because they have a good number of followers or subscribers.

doomloop

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Quote from: GreatArkansas on September 24, 2023, 08:32:25 PM

Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

To be honest, I believe more in people who are doing charts or technical analysis than telling it randomly without basis or proof. Some are also using fundamental analysis which is not really bad but I am more into technical.
So for me, it's fine and I can believe on it.

And those people who actually do it are only moving in silence. They don't let anyone know their next moves which makes sense because trading is about losing and winning. I mean there are traders who win in one side and the other is losing. So, we need to be selfish to earn more profit out of it. But, there are wise guys who mislead people by publicizing fake information.

Yeah, I also noticed that only a few traders are using fundamentals or it's not being talked about the most as compared to technical analysis. I guess that is because one-of-a-kind news or major news about the financial market or cryptos, doesn't come that often but traders can do a technical analysis anytime they like.

Silberman

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Quote from: kingvirtus09 on September 30, 2023, 10:22:12 AM

If you know anything about trading, I am confident you can tell yourself that if you see something on YouTube or Twitter, you will know if the influencers are telling the truth about trading. Because, in my opinion, the majority of them have only a rudimentary comprehension of trading.

They just appear to have a broad knowledge of trading, but the truth is that they only know the fundamentals. That's what I've found among YouTube content providers, even though they occasionally miss the essential explanation in trade.

The majority of those influencers are either lying through their teeth, and they are simply making it seem as if they know what they are talking about, something not too difficult as the majority of those that watch their videos know nothing about trading, or they know how to trade for real, but since they are trying to get views and subscribers they have decided to twist the facts a little bit in order to give more interesting predictions and attract people in this way.

harizen

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Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

As long as the prediction came up with a good analysis, it's good to consider as one of your future references on your next trading action. The market is unpredictable and too volatile, therefore, at least we don't just want to rely on instinct, emotion, guesses etc. on what would be the best possible actions. Don't approach trading like that.

Chart reading is obviously not 100% accurate but since it uses some tools and indicators, we can somehow able to predict some scenarios and design a strategy on that situation.

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Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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 consider charts useless, then you are rejecting technical analysis, for which the basis is the analysis of charts in order to predict the price movement in the future. The fact that you do not understand anything when you look at the graph does not mean that they are useless at all, but shows the lack of knowledge you have, which is solved by training.

Bushdark

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Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

Anyone can go to the social media and say whatever they like about a particular cryptocurrency asset. We don't have to be blind to what they are saying because some of all these social media influencers can be saying the truth about the market while thousands are only there to promote some crypto project and keep collecting money from the project team for promotion.

This is why the cryptocurrency market is full of different categories of people and projects too so we need to be sure on what project we are putting our money or else we'll going to keep making loses that we never planned about. There is need for us to do research about anything we see online do that we will not be unfortunate on some certian false news.

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Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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 know anything about trading, I am confident you can tell yourself that if you see something on YouTube or Twitter, you will know if the influencers are telling the truth about trading. Because, in my opinion, the majority of them have only a rudimentary comprehension of trading.

They just appear to have a broad knowledge of trading, but the truth is that they only know the fundamentals. That's what I've found among YouTube content providers, even though they occasionally miss the essential explanation in trade.

jaberwock

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Quote from: Mpamaegbu on September 28, 2023, 09:03:03 AM

Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

Now is a safe time to make predictions to the upside. It's safe in the sense that we're in expectation of a bull rally occasioned by the incoming Bitcoin halving next year. Many influencers cum analysts are capitalising on this to put up figures. They will be right, eventually. It's not a bad thing to FOMO, just like it isn't to also FUD. However, one thing should be taken into cognizance and that's not to follow anyone's prediction blindly. Everyone should figure out what level they will exit after investing now. It's uptrend for Bitcoin. Don't be deterred by whatever dip you see now. It's minor price correction.

It's true that it looks like we are going to end up with some good results and it should be important to realize that you are going to end up making profits if you end up buying right now. Plenty of people are still waiting, and I do not get that idea, you do not have to see it going super high before you buy, that would be quite late and you shouldn2t do that, you should be buying right now so that you could profit when it goes super high.

I know that market doesn't work that way and in order to go from 50k to 100k, we need people buying at 99k to take it to 100k, so that means we need people buying at the top as well, or at least near the peak. However, we do not have to let it be under 30k right now neither.

tjtonmoy

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Don't trust anything until you do it on your own. Market analysis is a legit thing and that's how people make trades and make profits from it. But it's never 100% accurate. People making money from such things will never share their own hard work for free on Instagram, TikTok, or other platforms for free. Even if they are real and they are sharing that for free, never trust them 100%. It's so hard to find one who's legit and even if you find one, there's no guarantee that their future prediction/ analysis will be as successful as the previous ones.

Learn the thing on your own. Give it a try and experience it. Trust me, this is the best way. The things you learn on your own will stay with you for a long time. And you can use that to your advantage at any time. You won't have to depend on such influencers on social platforms. Even if you lose, you lose on your own. That should be something to be proud of.

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Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

Now is a safe time to make predictions to the upside. It's safe in the sense that we're in expectation of a bull rally occasioned by the incoming Bitcoin halving next year. Many influencers cum analysts are capitalising on this to put up figures. They will be right, eventually. It's not a bad thing to FOMO, just like it isn't to also FUD. However, one thing should be taken into cognizance and that's not to follow anyone's prediction blindly. Everyone should figure out what level they will exit after investing now. It's uptrend for Bitcoin. Don't be deterred by whatever dip you see now. It's minor price correction.

AakZaki

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Quote from: kojektea on September 26, 2023, 02:10:36 PM

I believe that though it is true. Even if we understand how to read charts, it doesn't have to be 100% accurate in our predictions, sometimes when we want to make a trade we are still ahead of what we consider to be a prediction. I prefer to use it, at least it doesn't mean I make trades just based on my feeling that the coin will go up or not, but because the chart is correct.

The charts will depict it all and never trade with feelings. That feeling is not recommended, this is not gambling. Trading requires data that must be analyzed. The crypto market has data that is continuously updated, looking at past data and matching it with current data charts. Reading and predicting charts requires good analytical knowledge and also understanding how fundamentals occur. Even though predictions are not 100% accurate, at least we know how the market will flow.

Silberman

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Quote from: poodle63 on September 26, 2023, 06:53:40 PM

Quote from: kojektea on September 26, 2023, 02:10:36 PM

I believe that though it is true. Even if we understand how to read charts, it doesn't have to be 100% accurate in our predictions, sometimes when we want to make a trade we are still ahead of what we consider to be a prediction. I prefer to use it, at least it doesn't mean I make trades just based on my feeling that the coin will go up or not, but because the chart is correct.

this is also my point, when the only way to determine the right decision is through chart reading and technical analysis I don't see any reason to just ignore it.
its better to have something to hold to, even though there might be miscalculation and inaccuracy involving these technical analysis
they are more or less still good indicators and way to know the market.
because if we just invest based on gut feeling then most of the time it will result in loss, because you can't just outright trust gut feeling without proper reasoning meanwhile TA in general always use proper reasoning.

And that is precisely where TA excels, TA should not be taken as an absolute truth and instead it should be taken as a guide of what to do on the unlimited scenarios we may encounter while we trade, this is why one strategy can tell you to buy and another strategy under the same scenario could tell you to sell and still both strategies could help you to make money if you follow them, however very few traders think of TA in this way, which is why they get mad when they lose and then make a lot of mistakes trying to compensate for those losses.

ancafe

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Quote from: coinfunda on September 24, 2023, 05:34:21 AM

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?

There are hundreds of chart readers who are always doing their job, some are right and wrong, what we need to do is make our own predictions before deciding. Chart readers can help us learn to understand how, but it is not recommended to completely follow because when we rely completely on people's predictions it will actually mean that we never learn to read graphs independently.

Regardless of the good and bad analyzes made by graph readers, at certain times they can help many people learn to make analysis, especially for those who always share analyzes with an accuracy rate of above 75%. Analysis itself is also really needed so that we can understand it and get used to making adjustments.

Topic: chart reading and prediction (Read 537 times)