All this TA reminds me of voo doo and hocus pocus BS.
If you are here on the forum you ultimately are bullish on bitcoins unless you are working for the FED or other central bank.
If you are here on the forum you ultimately are bullish on bitcoins unless you are working for the FED or other central bank.
I agree- true- the sentiments and psychology of people is the same as in any investment area BUT in this very small and not very wide spread market we can have a swing of 50% in one day due to a whim of a big investor ( or an early adopter ). So all the sophisticated TA is out the window.
No one person can predict crazy. And I know some of those early coin holders are probably not all right in the head.
this is a common misconception that has a game theory explanation.
take one assumption: barring 'crazy' actors, TA can accurately account for underlying trends in price data.
hypothesis: while some traders can be considered 'eccentric', direct manipulation is risky and can often incur loss, and a rational actor with a large sum will make 'TA-appropriate' moves (following from our assumption) to maximize gain.
tl;dr -- following a trend has a better profit/risk ratio than manipulating a trend, on average.
--arepo