Any prediction is as good as any other.
We do not know the future, and anything can happen. You can make educated guesses, but in the end it's all still a guess.
Topic: Do you think using charts for predicting prices is a reliable method? (Read 503 times)
October 25, 2015, 06:56:32 PM
October 25, 2015, 02:48:29 PM
I don't think charts are any use for a market as small as Bitcoin. There are too many events that come out of the blue and sway the price. Charts might be useful for stock markets and FX because there is higher liquidity in them. Chart patterns like head and shoulders or cup and handle are only applicable to higher volume markets, not Bitcoin.
October 25, 2015, 02:45:00 PM
I never did like charts and chart explanations for future moves. Probably because I don't know how to read them and I don't know what all the cup and shoulders really mean.
So yes, I don't think that this really works and I don't pay attention to all of this. Maybe I am just being ignorant, but it's like that. I am done trading so I don't care!
So yes, I don't think that this really works and I don't pay attention to all of this. Maybe I am just being ignorant, but it's like that. I am done trading so I don't care!
October 25, 2015, 01:22:19 PM
If it is a reliable method for predicting prices depends on who is using them. Charts schow the psychology of the crowd, which moves in self-similar patterns. Some are good in reading the patterns, some not:
https://www.youtube.com/watch?v=RE2Lu65XxTU
https://www.youtube.com/watch?v=-2gKv4WaGBw
https://www.youtube.com/watch?v=AJeC92a3z_s
https://www.youtube.com/watch?v=RE2Lu65XxTU
https://www.youtube.com/watch?v=-2gKv4WaGBw
https://www.youtube.com/watch?v=AJeC92a3z_s
October 25, 2015, 12:07:45 PM
and it's more true when you "play" with high BTC volume ... you don't like chart because is always too late to act.
BTC trading order system is chance more than power.
BTC trading order system is chance more than power.
October 25, 2015, 12:02:17 PM
Charts are like theories, it can be true like it can be false, and there isn't a method to make sure that every single chart will report exactly what it wants to report.
That's all what i think about
That's all what i think about
October 25, 2015, 11:54:31 AM
no, because at some point, they will shift the trend just to troll you, while you're still there believing that they will play the same old range
the only way to be prepared is waiting for their move, and lose some possible profit, you have to at least get in the middle of the wave that they 're going to create
the only way to be prepared is waiting for their move, and lose some possible profit, you have to at least get in the middle of the wave that they 're going to create
October 25, 2015, 10:02:14 AM
whales discharge balls.
can't predict.
can't predict.
October 25, 2015, 09:59:55 AM
What I think is that unless the whales start referring to the charts, it isn't. 
Edit. (added)
Charts can't predict Mt.Gox. Things happen too fast here, so I think the same things we use in RL to analyze price trends may not be applicable here, there are just too many unexpected, unpredictable events happening.
Edit. (added)
Charts can't predict Mt.Gox. Things happen too fast here, so I think the same things we use in RL to analyze price trends may not be applicable here, there are just too many unexpected, unpredictable events happening.
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