Topic: Do you believe Technical Analysis? - page 8. (Read 1355 times)

The past records are merely references to what could possibly be, they aren't exactly 100% guides to actually being able to read the future. You can say that the quote you indicated is indeed true, but it's not like it takes into account 100%, it's a zero-sum game, with that result, there were naturally people who were on the opposite spectrum and lost. Due to that, it's natural to see why erratic movement happens, because every investor often changes what they do.

While I do use history to judge the market, I don't exactly use it as a 100% basis for my decision. Well, I actually do DCA so whether I use it or not may not really matter much tbf, but anyway, I also use fundamental analysis, so it depends really. While I do trust it on some level, it doesn't sway my decision 100%.

Technical analysis can lead us to the conclusion that, what next should happen in a trading pair, but they cannot guarantee us exactly which ones. Therefore, we must approach this issue comprehensively, but TA is something that I use quite often, it is related to market expectations and I think that is why it works.

But manipulators can use this for their own purposes, especially if it concerns some small-capacity coins. Technical analysis will not work for everyone, because I often see (when I watch market analysis) how different traders can interpret one market situation differently, so they will expect different outcomes and act differently based on their assumptions.

Candlestick and price charts help to make predictions but it doesn't mean that they are going to be 100% accurate or right. Knowing TA is somewhat our advantage in trading but this makes us think that we are going to win the volatility of the market and predict it right because no matter what good we are in TA, things can't be changed as the market remains unpredictable. Well, at least we have some idea of what possibly be going next and are able to anticipate it. We can't make it perfectly but at least we are close to making the right decisions.

I believe that there's higher probability of prices going up when there's a right setup on the chart. And that there is a higher probability for the opposite scenario as well. It's just human psychology that if something catastrophic happens, people will sell more just to get out before they lose everything. With the fomo it's the opposite. And wall street market cycle cheat sheet paints pretty accurate human behavior in the market. And markets follow human mass behavior so they are predictable from the psychological standpoint.

That said, I don't trust most the indicators, and imho some are just way too out there for me. But some of them most likely act as self-fulfilling prophecies, as some traders follow them and act on them. I had succesfull trades using fibonacci retrace and stuff like that. And even

I honestly don't see it that way, no. I have been in the bitcoin market for a very long time and in my opinion we are currently experiencing one of the most stable and least influenced by emotions and feelings overall market sentiment ever.

You only have to look at the news situation and the charts from 2013 or 2017:

• Back then, every little thing was either hyped to push the price up ... or used to send the price down
• Also, one did not have too much opportunity to refer to data from the past (previous halvings, ...) and was therefore much more uncertain on the market - which of course does not mean that one should rely on the coming halving to trigger another bull run. Not at all.

Currently, news such as "India plans to ban Bitcoin possibly or not" is no longer enough to trigger noticeable movements. For this, serious events are actually necessary, such as the FTX collapse.
But what is certainly true: The Bitcoin market is clearly more sentiment-driven than, for example, the gold or real estate market.

I do inspect charts sometimes but I never make my decisions solely based on TA. Fundamental Analysis affect my decisions way more than TA. If the fundamentals are not looking good then studying the charts has little or no meaning. Making decisions only based on TA is not a good way to make trades. You might make lots of bad trades that way and making bad trades mean losing money. If you are going to do TA, at least keep it simple. Moving averages and one or two more indicators are enough. You don’t need to know or use every other new indicator out there.

For daily traders, technical analysis is very important and if they stay up late without doing analysis first then it is very likely that they will always lose money while in the market, because so far if we pay attention to the market movements that occur today do not always follow the prices from the previous day and we can say this only in certain events the price of bitcoin will follow its movements as happened in the past.
I believe that trading with technical analysis can provide opportunities for us to earn passive income when trading.

Technical analysis is created to reduce your chances of experiencing losses. So it's not about predicting 100% correctly, this is a careful analysis option based on their past experience which ultimately gave birth to a method for anticipating. It is important to remember that a method can still be an effective method and it may not depend on its implementation. Therefore, analysis creates various types of techniques for reading price movements, this is because price fluctuations are always changing.

It has been like this for a long time. People still use past data and present market conditions to predict the future of the crypto market. But recently the market has been moving with sentiments. There could be many reasons why this is happening. The increased number of users, increased number of whales, many big companies investing in crypto/Bitcoin, etc. This can affect the market to some extent where people are influenced by it and they make decisions that are not similar to the past performance. That is why the technical analysis has become hard.

But if you still want to get involved in trading, the first thing you need to learn is the analysis of the market. And what better way to do it than technical analysis? To be more exact, this is the base on which your learning is going to be built. The chances of getting a successful prediction are less compared to the past but it still works. The percentage of success has dropped due to sentimental movements in the market but that doesn't stop us from using technical analysis.

I personally really agree with this. Because basically human psychology or human habits can be predicted and they can carry out similar habits every day, week, month, even every year. Therefore, in cryptocurrency trading, there are so-called candlesticks or charts that can be analyzed by looking at past history. Although in reality predictions or analysis using candlesticks does not guarantee absolute success. However, many cryptocurrency investors or traders have proven that carrying out technical analysis is highly recommended for trading in the crypto market, so that can increase chances of getting more optimal profits.

Because personally, when I want to buy an altcoin or when monitoring Bitcoin price movements, I personally never miss the use of technical analysis to strengthen predictions regarding the potential price of a coin or regarding the price of Bitcoin. Because in essence, apart from studying sentimental analysis and fundamental analysis, studying or understanding technical analysis is also very important, if you want to be more serious about trading in the crypto market.

If you manage to learn with the technical analysis this can be a heads up with your trading potential position you can easily manage to make a profit or to cut your loss. I don't say that the technical analysis is an accurate way but this can be a possible of getting the chance hit the target price, Base on my experience I believe in chart and of course with my knowledge its part of the foundation here if you don't know different techniques and strategy you wont able succeed most of your trades. But the counter part of it is the emotion, the ego of the person to make hold and wait or get fear to lose their money. So decision wise is a must.

Using past graphs similar to current graphs can give us an idea of the situation that may or could occur in the near or medium future. But if it is a prediction, we don't necessarily have to believe it because it is just a prediction that has not happened, especially if the prediction is from someone else.

Charts for investors and traders have different purposes because their goals are different. For traders, charts and technical and fundamental analysis are useful in determining entry and exit from the market. Meanwhile, charts for investors are useful for seeing the course of trends over time so that investors will know what to do.

I believe in technical analysis but it must be combined with technical fundamentals to look at information from other sources. And we also need to look at the indicators in the market to get information about where the market will move.

Due to the title of the thread I thought the discussion was going to be more general, but this is specific about candlestick patterns.

Look, I have looked into those patterns in the past and at least to me they are too subjective to be of any use, there are too many different candles and when combined with other candles their meaning can change and in fact be completely reversed, and when something is so subjective I simply do not trust it, as other traders can always point out that you read the candlesticks wrong and claim you could have made money if you did things right, and by the way I also feel that way about Elliott Waves.

Technical analysis is an important analysis method used to predict future price movements based on past price movements. It is of great importance especially in general to determine at what levels prices are breaking upwards or downwards or at what points the buyer-seller balance is disrupted. Of course, technical analysis alone is not enough in some cases to make a profit because the direction of the market and price changes also occur with a possible news flow. For this reason, technical analysis should always be used to support ideas and analyze future price movements.

To explain my personal opinion, I'm someone who believes that technical analysis is successful because past price movements and support-resistance levels are always of great importance in determining future price analysis. Especially when making long-term price analyses in addition to technical analysis it will be very useful to follow the news in the market and determine buying and selling points with the data obtained as a result of the analysis. Also, for short-term buy-sell I usually rely on technical analysis and just check out possible breaking news and which direction the market might move. In other words, regardless of the process technical analysis definitely helps to determine price predictions more easily and minimize possible losses while maximizing possible gains.

A good trader doesn't just use technical analysis as a benchmark in making decisions, they also use fundamental analysis to make decisions because news on market sentiment and politics also have an important role in market changes, for example when you see a doji appearing then there must be one> the sense of uncertainty faced by investors is something like this that you can take into consideration.

For a more complete reading, you should go to the article i provided below, it explains well how candlesticks are.

[1] https://www.wallstreetmojo.com/candlestick/

[1] https://www.investopedia.com/terms/d/doji.asp

Predictions are just that, predictions, I make them according to the data at hand and this also refers to the many indicators used and involves the use of charts, historical prices, patterns, technical indicators, and trading volume to identify trends, support, and resistance levels.

Technical analysis is not perfect, it has limitations because the price of Bitcoin is also determined by Fundamentals.
Therefore, Fundamental analysis can also be combined with technical analysis so that it will provide predictions that may be close, but still will not be 100% accurate.

The chart patterns or predictions of each tarder will also be different, because they have their own techniques and different points of view.

Technical analysis gives a good idea of the market relationship depending on which we can make a good investment. It plays an important role in building confidence in pre-investment decisions. Although it does not give any specific indication. However, if you can invest with an idea on it, the amount of investment risk can be reduced to some extent. Moreover, following the trading church in the trading business should be done even though it is not mandatory for every trader. Since there is no guarantee in which direction the market will move.

Since most bot is following some technical analysis method, it ought to work because the majority of trader especially those who are using bot follows this method.  I agree with one of the earlier replies that there is no 100% accurate in terms of trading since there is always a variable that make changes in the market unpredictable.  One of which is stated in the quoted reply that when a good news is suddenly released and affect the sentiment of the majority of the trader, the TA will fail since it is based on the past history of the trade.

We’re doing our best to at least get the possible price trend and yes TA works but its not perfect as expected by many, you should still adjust your analysis according to the market trend as a whole. TA is advisable for every trader, you should not guess your position to increase your chance of making a profit, the market is very volatile and its too risky, with TA it can give you at least a higher chance of making a good profit.

What is there to believe? Its all based off of mathematical calculations of prior historical experiences. All it does is narrow down the possibility of "this or that". The probability of it going the other way always remains, no matter how small it becomes. So a 100% accurate prediction is nonsense. However there are people who can predict it very nearly almost accurately. And sometimes that very nearly prediction is what wins you the profit in the end. But that kind of analysis takes years to master and nobody who is considered an expert will demand money for courses or signals.