Topic: chart reading and prediction - page 2. (Read 537 times)

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.

Well, I believe in technical analysis and fundamentals, it all works. But I don't trust all the analysis of all the traders that we see in social media because some of them are not real, not profitable traders. So beware of them, and I believe some of our fellow crypto users are lured by them. So if you have an edge in trading, you will immediately determine this kind of fake traders who just want to catch your attention for their selfish motive.

Correct? We cant really tell but its not really that bad to snip up some idea when it comes into those analysis and chart reading but never ever make yourself do easily
believe and making those analysis to be input up into yours or simply you are following them 100% because its not really that something worth on doing so knowing that
each one of us could really easily give out that kind of analysis which its neither that a good one or bad one, Market is truly that unpredictable and there's no way that we could really be
able to tell on where it would be heading. Come in mind that there are even speculators who do really make out some claims that they are really having that good profitable trades
and trying out to hook noobs to follow them.

We are all speculators on here on which it is really that common that there would be lots on social media platforms or on streaming sites with those chart predictions and
analysis on which you could really be able to see but its not really that something that would really be ideal for you to follow and nothing beats out on having
on your own rather than on trying out to follow those.

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.

A chart or technical analysis is a matter of what one's eyes "a Trader" can see or view from the trending market. for instance, some traders make their predictions based on the daily, weekly, and monthly timeframe analysis, and that is why traders' perspectives will always be different from the other traders' views, And that makes it not encouraging to take investments or trading decisions based on someone else's point of analysis.

Therefore, the bottom line is that at the end of the day, some will be right with their predictions while some will be wrong, reason being that no one is a master.

Some people can predict easily and their assumptions are true but we cannot trust everyone as we don't know that the predictor is true or false. Sometimes people predict by visualising the history as lots of people are saying that there are certain months in which market become dump so from these assumptions predictors concluded that as the conditions were in past so surely they will occurs once more.

A common man cannot identify the market with the help of price chart but it is the experts who can spread the accurate information when they imagine the price chart. According to my experience just focus on the suggestions of experts and never believe that everyone can make you successful through offering news about which we don't know that whether they are of accurate nature or are untrustworthy.

It's not easy to find those type of places and be sure that they would all work, obviously they may not work. However, if you are careful about what you are doing then you should be able to make a profit better, and one of the ways to do that for example would be buying when it's bottomed out like right now, and wait until the big bull run to make it a lot higher.

Chart reading is a great example of this, if you want to make a profit it's better if you end up with something that could profit you a lot, and should be considered a good job if you are careful about it as well. I get that it may not be all so simple, but it could be possible if you could learn how to do that all by yourself and not look at others to see what you should do.

Skill is most essential for trading, especially if you have good skills, it is definitely possible to profit from trading. However, if you want to learn about trading, you have to spend time and if you want to learn it by following videos or social media, it will never be good. In the early stages of trading you have to spend money, then you should not be restless because you may not get profit, but you should learn with patience. And when a good stage can be reached gradually, it will be possible to receive that education, and he will be able to gain good experience. To earn in trading, a person must spend enough money and time, but he can make a profit from it, otherwise he can never make a profit. That is why it is necessary to take advice from a good trader first, only then it is possible to gain experience in trading and earn money from it.

by reading charts we can predict what will happen next, apart from fundamental analysis, technical analysis can also be used to predict the next movement. In fact, many stock or forex traders have also applied it long before crypto existed, and from the graph we can see the trend that is forming and the possibility that prices will follow the trend, but it is not certain when this will happen.

IMO, I will not.
I will not believe only one of them but instead, collect their predictions and have a reference on it while making your own analysis.

A combination of two trading analysis (fundamental and technical) might give you a chance to predict near to the accurate results.
But don't forget the fact that these analysis are just a tool, there's no assurance to have accurate results.

@OP, check the previous result of the analysis before you will believe it, because IMO, everything in social media is a lie, there must be a hidden agenda about why they do that and show it publicly.

Actually I will say from my perspective that in 2025 we shall experience a bullrun and my predictions is not stamped that the price of bitcoin should be something I know that will be upwards always, it has regulations in the market, for those Instagram, twitter and any other social media I know concerning bitcoin, I believe that those thier predictions is to make people to venture more into cryptocurrency investment and especially bitcoin so that it will enhance in making their coins to be known during bitcoin bullrun, some of the speculation of bitcoin getting increased is done because some particular people have agenda or plans of using the influence of bitcoin increment to make their coins to have influence and also propagate in volatility in crypto market.

Hmm, most of you are talking about are the crypto influencers you so-called celbs, in my TBH, I think most of them are real and some people just pretent to be good market readers to attract some audience and encourage them to buy their shity premium services. So you need to choose by your expeexperienceh them. I used to follow a couple of my local Youtube analysts, and sometimes I find tier views really interesting as a whole I cant cover eveeverything my own so a mentor stuff isimpis importanture to follow up on the DYOR.

Next to it there is a type of people, who just increase views and try to get a bunch of people following them for the signals what tey theyy really is a game they use to create 2 groups haha this is also a fan base story so I don't own the content originality s my words are also inspired from someone, but yes I had put something in it and removed some useless content from it. Moving back to the topic I t,hink they create 2 groups ptting half on one side and half on the other and giving a bullish signal to one side and Bearish to othedifferent s wins and there they promote their premium services and on the other side some motivational quotes.

T on the other sidehere are some goodexcellentpleas well but 80% of the premium services signal group sales are fake and they are trapping the newcomers. So learn before entring the field.

Yes chart reading is really important part for trading. If you do proper chart reading, then it will help you to understand the market better. And as you understand the market better, so it will help you to get more profits in the longer run. Now regarding the social media channels you have mentioned in the OP, then I cannot guarantee how accurate readings these people are giving at a particular time about the market. Learn to analyse the chart and it will help you to make less losses.

Others just do it to show off which is why most people don't trust it. Also crypto is very unpredictable which is why it is difficult to predict but still that is the number one thing that a trader will do read the chart and read the news to make sure if the entries go their way. Though it still does not mean that it is guaranteed to win a trade because mostly in crypto it is based on news if there is new news the probability of affecting its price is high.

It is still better to have your own analysis if you decide to follow it because having knowledge of trading and not just relying on someone's chart prediction is not good as in the long run you will need to do it yourself.

You don't have to trust what you get from social media, especially if you don't know the influencer. You should make your own predictions based on your abilities and study material so you can know what to study next.

Those who make predictions are also based on what they have learned, although some make their predictions based on other people's results that they have found. So what you need to do is re-examine their predictions so that you can find more useful information for you and you can determine when to enter and exit the market.

You should trust yourself more than other people, especially if that is about prediction. No matter if later you find that your prediction is wrong, that will be your lesson to learn more about analysis. That will improve your analysis skills so you do not depend on other people's predictions.

Yes, I believe some of them but only the trusted ones. Most often, people who make predications in social media are only for engagement purpose and does not really have a strong foundation and an immense knowledge in trading. So the best advice that I could give is to know who you are following and who should believe in. You can check their credibility or history if they've been giving a helpful information to their audiences. If they are not able to do so, then they are not reliable and you shouldn't rely on them as it can negatively affect your trading.

It's okay to be reliant on these chart readings, but you also have to be knowledgeable about these things because you cannot depend on these people all the time. And for you to be able to get better results, you have to educate yourself first to reduce risks.

Don't believe. However, if it is a reference, yes. Many social media influencers tend to use it for their personal gain, but not all influencers do that. It would be better if we had our own analysis/had skills in technical and fundamental analysis and used other people's analysis as reference material only. We should believe in the analysis we make ourselves, this is for our good so that we can survive in any situation.

We can't expect a perfect reference with technical analysis based on chart ready, because sometime it falls with low success rate. Specially in times of quick decisions we can't figure out a specific judgements with respect to projecting the right target. Predictions sometimes a win or lose trend, much better if we have a close monitoring of the trend as you became more educated and experience with this field trading career. However, I can't suggest this type of money making process to become sustainable in the future, since there's no perfect predictions to apply in different situation.

Most of the influencers who make forecasts on the social media channels you mentioned, such as Twitter and YouTube, are simply correct and have no logical basis. I'm sure I've only seen a few who stated their theory on the forecast they made in their article or post.

Others exist as well, because the sole purpose of such platforms is to aggregate a large number of perspectives on truth. That is why we should conduct our own study into the things we want to know about trade activity in the crypto market. If you have a concept or knowledge of the trading tools listed, you should still base your interpretation on the chart.

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.