Topic: Do you believe Technical Analysis? (Read 1355 times)

Yes, by analyzing bull and bear, it is necessary to understand whether the price of a coin will increase or decrease. Meanwhile the price of a coin goes up and down based on a season, a good update of the team, any new feature of the project. So by doing these analysis it is possible to predict the future of a coin but it is never 100% guaranteed but sometimes expected results are obtained so definitely technical analysis works I believe it.

At least that's how it works because we rely on mapping and analysis based on predictions and wherever we are the predictions are a reference that is not necessarily true and accurate.

Relying on other people's predictions without own analytical knowledge is not appropriate to engage in trading because we cannot completely rely on other people's predictions. Some of the considerations may be other people's predictions as reference material, but it is much more important to have your own analysis because it is a strength for us to be confident in getting involved in trading. Skepticism is a lack of knowledge so that people are unable to do something correctly and accurately.

I agree that our presence in trading must be knowledgeable because we cannot rely on other people's analysis to take much bigger risks. If not then trading is not the right choice for someone to get involved further.

I'm ready for anything that will happen. The market have just two phase, the bull and bear season. Ensure to lay down complex infrastructure such as good planning that have golden opportunities of milking the system with our very best outcomes. We know the risks involved when we placed trades, we have just two things in mind, either we gain or loss, nothing changes. Technical analysis are best used when a trader is thoroughly grinded in the strategy, because it's complex and there's enough strategy open to be utilized in upcoming trades.

Technical analysis do not work like the way it used to work before in the market. It could take time for us to really make use of technical analysis but most time it might not work with all altcoins market. The altcoins market moves anyhow do we should not depend on it for us to make profits from the market. It is better we just buy and sell and use other tools for us to make profits from trading altcoins.
Any trade we are taking has it own risk so we have to be prepared for anything that would happen..

I think that analyzing past charts for future price predictions is a good idea, relying solely on candlesticks would be a bad idea. This is because the market varies based on different factors such as investor psychology. While past events like the Bitcoin halving offer valuable insights, but they're just historical landmarks, not guarantees of the future route.
The best course of action should be to combine your candlestick analysis with your own insights. It’s also important to remember that trading is inherently risky, and no single method can guarantee a perfect outcome.
I recommend diversifying your portfolio with majority of your investments in a stable source while actively trading in altcoins like I do and investing only what you can afford to lose. By doing so you'll be better prepared to navigate the world of crypto

If you have any questions you can contact me via my Discord: https://discord.gg/2TFSrzunK3 or Telegram: https://t.me/Project_r100k/

Charting and technical analysis could never been that precise or something that do works most of the time and with that normal behavior and unpredictability of this market then its not really a shocking thing honestly.

There are really just that people who are really that skeptical about these TA results without even trying to look at on whats its relevance in regarding about trading. Yes, it cant be precise but doesnt mean that it would really be useless because sooner or later you would be able to find out that you would really be needing up these things just for you to have atleast on having some ideas on what you would really be gonna dealing with. You cant really just rely with news like forever because we know that events and happenings doesnt really come often or happen all the time.

This is why you would really be needing to have that skills and awareness on how to make use or able to plot some charts.

There are no accurate predictions because everything can change at any time and using past charts in analyzing price predictions will provide a lot of insight, but we cannot rely on these conditions completely. People will probably make a combination of many technical things to predict prices and we will look at the history based on observations. Trading techniques and patterns can change according to the course of the coin we are trading and if at a certain time the strategy has to be changed then run another plen as a step.

That's why people say trading is difficult and not everyone is able to do it, but when you dare to take risks to practice your skills then I'm sure we will slowly get an idea of how to trade. Finally, we need to rely on our own instincts to decide on conclusions based on a combination of several other things that we can find.

Of course, no technology from past to present has been able to predict what will happen in the future and unfortunately we humans cannot predict it either. For this reason we don't know whether any of the plans we have made both economically and for the future will come to fruition or come true as we imagine. Anyway, I would like to continue my comment without going beyond the current topic.

Just as you stated, it isn't possible to predict the future in financial markets both technologically and from people's perspectives. However, it shouldn't be forgotten that history constantly repeats itself and past data are informative for future movements in economic markets. In other words, although it isn't possible to gain profit without losing any money by using technical analysis, it helps us to have an idea about future price movements and to make investment decisions accordingly.

As I mentioned, the fact that technical analysis is only a guide and doesn't help to get 100% accurate results causes everyone who does technical analysis to not be able to consistently make money. Of course, if this were an analysis method that could give 100% accurate results when done correctly, everyone would be able to earn as much money as they want today and there would be no such thing as poor.

No one knows that what will be happened next moment but still there is a hope that one day they will earn a lot of money to make everything easy. Cryptocurrency is not guaranteed but still everyone wants an investment in Bitcoin because they know that if there is a risk there will be advantage too.

Everything changes with a time so we should adapt ourselves accordingly because neither your business remains in same condition always nor you remains same energetic as you are today therefore be happy with all that you have today.

If someone is a holder of cryptocurrency then they should realize that cryptocurrency can be predicted and most of the time these predictions are precise because prediction about halving and bull season is coming true. So in such cases assumption can be made and we can decide according to assumption to make our investment successful.

I agree with you that it is not possible for any human being to predict the exact future. But only a little can be inferred based on past events and behavior. That is through by technical analysis. And someone with long experience can often predict the potential and thereby make good profit from crypto. So technical analysis cannot be untrusted completely

Of course, to be successful at something, you have to stick with it for a long time. Because success never comes fast in any field. So in technical analysis also an analyst spends a long time and after hard efforts is able to make a correct analysis which fetches him a good profit at that time. That's the truth and that's what happens

All humans are unable to see the future, so everyone still has to continue working to make their future bright. Because basically everyone doesn't know what will happen in the future, even though everyone can reflect on the past to improve the way they work in order to get a better future and that is naturally the case.

After all, everyone can see business people who are still working and running their business because they themselves don't know when their business will progress even though they continue to try to target the number of new customers every year. So regarding the future, we can only make the best of it from now on because good results only exist through good efforts from each of us, not from fortune tellers or other people.

True, that's why we rely on what the OP says—candlesticks or the chart that is being mapped using technical analysis. To answer the OP's question, do I believe in technical analysis? Yes, because that is the only way of analysing the market and seeing the potential position for gaining a profit, but of course it will depend on which technical analysis you are following, either from other traders or your own technical analysis. But the thing is, there is still no technology or way of predicting the outcome of the market because if there is, then there will be no balance if all will earn, so I still hope that no one will invent it, and I do believe that it is impossible as the market itself is unpredictable and will only move by how the transaction goes every day and every second. Just remember that not all technical analyses are correct; it's still good if you know how to do them yourself.

FA could be used on trading too on which it is something that you could also apply when you do make active trades and you could be basing up your position plus having those TA with the recent news that circles around the market. Yes, it could be hard to have both but making up some combinations and trying out to seek for some confirmation would really be solidly making your prediction or analysis will be that better which it is really that much more preferred rather than making yourself making positions without any solid basis. If we do speak about investment then getting in into the market wont really be that much of an issue since
you arent minding about on the duration on how long you would really be securing for profits.

Therefore, it would really be just that basing or depending on how you do make use of those technical analysis and of course this is something that you could really believe and make use.
If you dont trust up TA then what are the things that you do make use on making yourself that effective into this space? You cant really just make out positions without
any basis and this is where technicals would be relevant because using nothing will really just that pertain about pure gambling.

Yes, they are but I think their use cases will only depend if what we are doing. Like for example if we are trading, then it was mostly the TA's are the ones that traders are using. For investing, it was FA. It was only based on the majority, but of course we are still free if whether we are going to go against with them and choose whatever analysis we want, or just simply use both of them because after all, each of them aren't bad like you said earlier.

Each coin must have their own issues, including about fundamentals. Much more if we are talking about meme coins. But they aren't likely going to recover or fix their issues. Most of them don't even have a fundamental at all.

Whether we believe it or not, technical analysis are not even so important In the Crypto market. There are many traders that are very profitable in the crypto market that do not make us of technical analysis. It could be very essential in other financial market but not in cryptocurrency market. Once we understand this, then we can move to one of the most important tools we can use to make profits from the Crypto market as a trader or investor. Since many altcoins are easy to manipulate, then what is the need of using technical analysis when we can easily push or dump the market.

There is no such technology invented in the world so far that we can know in advance what we do will be profit or loss. If there was such a technology then no one would be harmed in business and there would be 100% successful businessmen in the world. Then maybe there would be no word of poor in the world, everyone would be rich. First of all, no technology has ever been able to predict anything in the past and will never be able to in the future.

Actually, all of us here in the forum are all speculations; now it's up to us if we agree or support what they say. That's why, if we become sensitive, we will know which useful things others are saying and which are meaningless.

The performance of technical analysis requires that we have an understanding of the use of tool indicators so that we can determine what and where the direction of the coin we are trading is to obtain income. It cannot be said that you know how to use technical analysis if you do not know how to use indicator tools.

Technicals doesnt work on new coins specially on new listed ones, prices are really that shooting up and down on intense manner on which on the case that no TA's would really be able to work out on that case.

Speaking about believing about TA's then of course it is really that relevant, who would really be on their right minds on not to make use of these indicators. How they would really be able to handle this unpredictable market in the first place?If ever TA isnt relevant then how you would really be able to handle yourself within this market? By pure guess? By waiting for some events or news?
You would really be finding yourself on such big problem on the time that you would really be that not able to know even with the basic principles on how TA work and how it could help
on trying out to hover yourself on this market.

We know that its never been that so simple and this is why having this kind of knowledge would really be an edge over or compared to those people
who are dealing on this market without even knowing on what they are doing.

Yup, well said!

Both fundamental and technical analysis have their own significance and in some sense, they both go hand in hand. The more sources you have for fundamental analysis it helps you understand the sentiment of the market as well. A coin with fundamental issues won't have a good sentiment (unless meme) and similarly, a coin with bad sentiment is usually going to have some fundamental issues sooner or later

I am more of a fundamental analysis guy but I absolutely agree that technical analysis is just as important. It's just not my thing.

Technical analysis when used on new altcoins is indeed difficult to work out, but this can be done on top coins, especially bitcoin, which of course becomes increasingly difficult to manipulate, the more people own it and the more it spreads. In technical analysis, of course you have to be able to understand the characteristics of the technique used, because no one technique works perfectly