Topic: Do you trust chart analysts? - page 15. (Read 3271 times)

I do. Chart analysts make predictions and at least give me peace of mind since bitcoins are really volatile and does cause a lot of anxiety specially for those who recently just invested on bitcoins. But I do trust chart analysts. At least they can predict the behaviour of bitcoins.

       Ofcourse price always depends on the law of demand and supply but you still need chart to be your guide even it is not guaranty 100%. News can help more to know the movement of price daily. I think you can use all of that to predict the price as your patterns so you can avoid more losses.

I think you have a wrong perspective when it comes to chart analysts. I must say that I don't trade right now, and I'm just studying for a while now, because I find it interesting, and maybe in the future I might try it. After taking that out of the way, I just want to say that I used to think like you, and I thought that chart analysis was stupid because there is no way people could use it to predict anything, since markets price behavior only reflect supply and demand.

The thing is that chart analysts are not really trying to predict the market, they just use it to react on price changes. based on the patterns they see on the charts. They just use those patterns to try to reduce their losses, and maximize their profits, but they keep changing what they do as the patterns keep forming. So they just say that with the pattern the price will probably go this way, but if it goes on this other direction and starts forming a different pattern, then they will do something else.

So basically chart analysis is not something that is written on stone. It's more like interpretation of live patterns that are forming and changing, and they use that to react.

Now, why would this work? Simply because traders talk the same language. If a lot of traders with a lot of money are all looking for the same patterns to form. When they all see the same thing at the same time, since they do it on live markets, then they will all buy or sell, and that will have a huge impact on the price. Of course there are some variations, because people can read different things, and that's why some traders win, and other traders lose. It all depends on the amount of people reading the same thing at the same time.

So yes, chart analysis works, if a bunch of people read the same thing. So just think about it. You are studying chart analysis, just like I'm doing right now, and you just read the same information and learn the same thing, that thousands of others did. What will happen is that you will be able to synchronize with other people when you are trading. That's why it works.

No, because they are using past price to forecast the future prices and can be deceiving too, in the sense that it may appear to be upside price break to one and make it look like a failure to another.

I trust it because i analyse their work and it seems pretty legit to me. Nothing is perfect in our world but we have to trust.

For me it was just a predictions from the professionals who are analysing the trading chart. Actually these are their opinions based from the factors that can affect the up and down value of Bitcoin. They also checked and compares the trend from the data they gathered last year. But there predictions and analysis are close to the exact value of the Bitcoin . Not that reliable but nevertheless in the end we must believe that whatever happens to Bitcoin , hoping it will survive.

Yes i trust chart analysts because they know the possible candle in every hour or every day and every month.

Everything in crpyto market is not purely reliable, i believe a combination of supply, demand, news, competition among same class of crypto, and chart trends makes up the prices of crypto individually. So reliance on chart analysis alone doesn't give you the best interpretation of what's going on and definitely better estimates.
Usually chart analysis is used by traders from equity market but traders from crypto tend to rely more on news.

Maybe, I will put some trust in analysis of the economist specially if they have expertise in analyzing with the future price. But not at all, they are just human! And what are they opinion is just based from what they knew about.

this is a difficult question. we can trust and not trust. it depends on the man whom analysis the chart. if chart analyzed by an experienced person, we can trust and in many cases, this issue has shown.

Beginners can find the cryptocurrency space overwhelming as there is a vast amount of data available from an extensive number of individuals and companies.

Chart analysts provide the opinions of predictions rather than facts therefore I advise you to conduct your own research by learning about the trading charts.

Start this by following the price of Bitcoin and your other favourite coins daily using the trading charts. Don't obsess over it, instead keep track and this will get you more familiar with reading charts and looking at them. You can boost your understanding of the trading charts by learning chart fundamentals from chart analysts and books.

Once you feel confident practice, make mistakes and learn from them. I have provided recommended reading below that I have found particularly useful.

Bitcoin Analysis https://www.cointelligence.com/content/analysis/bitcoin/

Line Chart https://www.cointelligence.com/coins_list

Candlestick Chart https://www.binance.com/

It is not an infallible science, however it does give you a reasonably accurate picture of market trends and I do take it into consideration myself.

As a trader, I trust chart analysis. However, I just do it myself and I do not trust chart analysis from others. Why? Because the analysis of others in the crypto market is a lot of fraud in order to benefit from their analysis because I know that the price movement of crypto is influenced by the market conditions of those crypto users. While the effect of a news about crypto is just to sharpen our analysis of the movement of the price of crypto in the future.

Technical analysis is the best way to analyze an asset.
Whether you are talking about an egg production curve, stock prices, or cryptocurrencies you will realize that this tool will help you understand and predict a curve.
Look at the canals, triangle, shoulders or rounding bottom and you understand the power of this material that is also called an art!
Know that this technique is inherited from the chaos theory that has never been questioned for now!
It is used in many fields as mass analyzes and their movements!
Do not doubt the technical analysis in cryptocurrency and make this matter better, it will do you good!

For me, I don't really trust or believe in chart analyst. People have skills and they can analyze charts on their own. Why should people look for chart analyst if they could do analyze on their own.

No i dont. I followed some people who worked woth chart analysing. Those people are weird an their always have an answer, they always knowed what will happen. They always have like hundert different chart models, and they always answer they know what will happen they told us its a classic shoulder head whatever So what chart model you have when bitcoin started the bullrun to twentythousand? Ots not possible to see with chart models what will happen next.

Charts are actually the price history of coins, based on these histogram, analyst can predict what will likely be the movement of prices in the next given time, this is not exact, it is just a prediction, a guide on what to expect, certain variations will come up based on actual situations. You can trust chart analysis at a certain level but not completely, no one knows the future after all.

I Trust Chart Analysts very much but you also have to off instinct, unfortunately they won't always be right. Great post, keep it up!

Chart analyst might help you to wisely guesse what is going to be the price. But like any other way of prediction, they cant give the definite prediction on the price. Its not bad to look at their analysis but still the decision is still in you. I would suggest you to just keep on holding and dont frequently detect tge price from time to time. Decide to invest for long period of time.

Charts are good as heuristic methods of short-term trading but it ignores external situations that can affect the price. The charts followed by traders are good in that they try and predict other day traders move, the problem is the market isn't beholden to that alone. An attack, a hack, public relations nightmare are events that these charts can't control.