Topic: Do you trust chart analysts? - page 19. (Read 3248 times)
I guess it depends on who is doing it and how well they know there stuff. Lots of people out there that have no idea and people blindly follow them. Prices repeat themselves so do patterns and because there is so many traders that believe in it, it becomes a self for filly prophecy . You only need to look at Fibonacci levels and look at how many times a trend reacts at the 61.8% price. Whether you believe in it or not, you have to acknowledge it does get it right at least 50% of the time. If you then use good money management practices, you can make money off that.
Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.
Who said this chart analyst. First you should think your own chart is a past reference and graph is a present reference but only supply and demand is the exact analyse of Bitcoin price. It is one part of the analysis and something new technology is launching that time Bitcoin server is busy so price fluctuation is happen in the market for example last year December 28 Segwit2X is launched in Crypto market that time Bitcoin value is sudden drop in the market. So we don't analyse the future only you should trust this coin it will make good profit. But news channels are creating curiosity of the cryptocurrency because it is not explained in complete news so many peoples are eagerly waiting for proper news this is not affecting the Bitcoin value. Because most of investors are well known in Cryptocurrency. 
I don't fully trust TA, the crypto market is easily swayed by whales and news. But is can still be used as reference if used to a more established cryptocurrencies like eth an btc as they have the least susceptibility to pump and dumps.
Data is nice, but it would do well for everyone to note that past performance is not indicative of future results.
The crypto market is speculative, and while some people's predictions could be on point every now and then, it's better to attribute it to luck than anything else. Some speculations are more educated than the others for sure, but in the end, everyone is still just speculating. Never go all-in on the basis of chart analysis.
Yep, emphasis on news! Short of an actual working crystal ball, no one can predict what happens in the future, no matter how well decorated they are. It must be noted, however that news isn't truly a deciding factor -- it simply affects demand, which in turn affects prices.
The crypto market is speculative, and while some people's predictions could be on point every now and then, it's better to attribute it to luck than anything else. Some speculations are more educated than the others for sure, but in the end, everyone is still just speculating. Never go all-in on the basis of chart analysis.
i think bitcoin price and other crypto price depend on supply,demand and NEWS.
Yep, emphasis on news! Short of an actual working crystal ball, no one can predict what happens in the future, no matter how well decorated they are. It must be noted, however that news isn't truly a deciding factor -- it simply affects demand, which in turn affects prices.
There is a saying - trust no one )
But anyway and always, you need to use charts, news, rumors, inner voice and common sense.
But anyway and always, you need to use charts, news, rumors, inner voice and common sense.
I believe more than anything that demand and supply run a market in the long run. What happens in the short term is up to people trying (and some being successful) to game the market. In reality, it is quite hard to read the market correctly and only very experienced day traders would be able to do it successfully. Chart analysts follow patterns mostly and try to make sense out of what seems to me to be following the weak-form market hypothesis (https://www.investopedia.com/exam-guide/cfa-level-1/securities-markets/weak-semistrong-strong-emh-efficient-market-hypothesis.asp). Because Bitcoin is much public, it usually reflects all market information except in a few exceptions (see Coinbase in the Bitcoin Cash fiasco). When all the information is present, chart analysts are able to identify patterns with more accuracy, but in the end it all still comes down to just having a best guess. No one can predict the future value of anything with complete confidence.
I don’t really trust chart analysis for anything. It gives you something to think about, but I would not rely on it.
I’ve been watching CNBC for decades and their chart guys are wrong as much as they are right. In other words, random guess would work as well ... and that is for stocks, where they don’t move nearly as much as crypto.
I agree with you that crypto seems be driven almost entirely by news, and for the most part moves in unison. The top 50 or so appear to be highly correlated more often than not.
I’ve been watching CNBC for decades and their chart guys are wrong as much as they are right. In other words, random guess would work as well ... and that is for stocks, where they don’t move nearly as much as crypto.
I agree with you that crypto seems be driven almost entirely by news, and for the most part moves in unison. The top 50 or so appear to be highly correlated more often than not.
Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.
believe it but not completely. because there are still many ways to find out the price of a coin. for example by knowing news throughout the country. and read the volume of the coin. in my opinion.
Do you really trust chart analyst?lot of people predict bitcoin price with chart analyst.but i don't trust them.i think bitcoin price and other crypto price depend on supply,demand and NEWS.
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