Topic: Do you trust chart analysts? - page 10. (Read 3210 times)

I trust my own analysis of charts but nobody else's.

it really does sucks. means how virtual coins can predict there self growth?

Chart analysts is a tool to know trend price, can not guarantee profit, just as the basis for making the best decision, it is true that in trading we speculate but I can not ignore the charts.

The chart does not mean that it will repeat history at least we have the data or the basis so that we can come up with a good prediction on what will come next as well as when we read updates or any news we can predict the price, it does not defined the present value but at least we have basis.

No, what is presented in the chart is history, we never know that the charts are always the same, and surely we can only speculate about the future.

All forecasts are relative. Too many people claim to be experts in this market. They have their trust and the posts are for reference only. I've seen a lot of bump groups, dump market forecasts. I find that they are the bad guys take away your money. Be careful.

No, i don't trust the chart analysis because after all they're just personal prediction of someone so it could be true or wrong.
You should only consult that prediction, not following it.

You are right. I noticed that on different sites charts analysts quite different. So it is necessary to switch own mind and try to make right decision where to invest. There are a lot of fake information and forecasts on the market.

The opinion of analysts should be taken into account, however, one should try to get acquainted with the opinion of different analysts, and also trust your opinion and intuition on all issues of the crypto currency. I turn to the opinions of analysts and in many ways they are right. Therefore, I always get acquainted with their opinion with interest.

Chart analysis really works well but it is still better if you able to do your own analysis because its risky if you just depend on someone else regarding on that matter. Doing chart analysis is quiet hard for some people because they don’t know how to read indicators, so you should keep on learning until you master it.

I believe that chart analysis is based on previous and current outcome. It may not be all that accurate, but it does serve as a guide to know the trend and flow of the market. It should be used together with other indicators when making analysis, along side considering other fundamental factors that affects the market.

Have you ever gained any profit from analyst predictions? As for me I tried to use analysis but had a negative experience with it. So I prefer to do my own investigation, and I should say that crypto is almost unpredictable. It mostly dependent from news than from any calculations or trading rules.

Yea I trust bitcoin analyst the always come true with their
bitcoin charts, recently I heard bitcoin would get a huge
dip in value when bitcoin was at $20k this year and bitcoin dips in value as they say.

not really...
But in my opinion, chart analyst really helping a lot for traders for predict the coin price in near future...
just like what you said, bitcoin price depend on supply, demand and of course NEWS really take effect...

I read the forecasts of many analysts, compare and on this basis add up my General idea about the prospects of bitcoin or other coins. But to believe only one analyst is not.

Chart analysis is not very accurate. Because charts can be interpreted in the way the analyst wants. I used to listen to these analysis earlier. But after losing some money listening to their advice, I decided to ignore them.

I think long term trends can really follow some pattern (like parabolic trend)... but anything else is more or less random. in hindsight however you can always draw some nice support lines. but there are always at least a couple of possible lines...

Everything depends on the supply and demand and news are one of the factors that are bound by, influencing and vice versa the supply and demand.
Technical analysis is a valid strategic tool that can be very powerful if you know how to use it though.
Technical analysis is mostly based on monitoring how the rules of supply and demand are influencing the market as one of the key components of technical analysis is behavioral statistics.

By introducing t.a. you are basically using mathematics to minimize the mistakes in judgment. If you establish strong rules for your action markets and if they are based on solid fundamental and technical analysis you should make a profit in a long run. However, making a good strategic plan is not an easy task.

The problem with t.a. tools - like chart shapes (triangle, wedge etc.) is that they are less reliable the shorter period is and the more volatile it is. With Bitcoin almost everything is short-term and the market is still underdeveloped, young and hence very volatile and hard to predict. For example - the January fall was a reaction to some news, much less harmful than some of the news from the August - December period.

However, if you are very skilled you can still use them to your benefit, and if you are less skilled you can still use some of the t.a. like support vs. resistance, Fibonacci, moving average, expected oscillations during the year etc. All of those are pretty usable on Bitcoin.

if all the chart analyzes are right on the marks of course everyone who follows them will benefit, then everyone will follow the analysis, and no one will lose. it is a simple and unlikely scenario. Although sometimes a person's analysis is correct, it will not always be as described. Price movements are not influenced by the shape of the chart shown, but based on supply and demand.

Yes However, any way you slice the pie chart, a significant number of traders are reliably profiting using technical analysis. In this article, we will discuss and debunk some myths about technical analysis.