Topic: Is Technical analysis bullshit? - page 8. (Read 892 times)
a lot of some analysis that emerged from the RSI that just makes us stuck in a circumstance like a price dump. and it makes the head feel as if it will break,, making its own analysis by holding on to some predictions will be better than RSI...
Technical analysis works with any asset that has chart to show it historical price. The only problem with technical analysis and crypto is that, majority of traders depends on speculations to determine their prices not on technical analysis.
People used to follow TA before. But now a days all fake analysts and well bribe paid analysts made the TA as a joke. I personally stopped looking TA in any market include stock, forex, crypto markets. The reason is Analysts are bought by companies to give their stocks or coins a extra hype by doing a intentionally created artificial analysis which is totally on the other side of the market.
so , TA is less and less trustworthy.
so , TA is less and less trustworthy.
1 - TA won't predict the future. No one serious would ever claim that. At very best it could increase your chances of accurate prediction of market behaviour based on the past movements. It's not deemed very effective even for traditional markets.
2 - TA is completely useless for the market that is often being moved by unforeseen events, i.e. China bans BTC, Mt Gox coin dump, large exchange gets hacked etc.
2 - Self-fulfilling prophecy. If some popular analyst(s), with very large following, present their TA, that itself could actually move the market.
2 - TA is completely useless for the market that is often being moved by unforeseen events, i.e. China bans BTC, Mt Gox coin dump, large exchange gets hacked etc.
2 - Self-fulfilling prophecy. If some popular analyst(s), with very large following, present their TA, that itself could actually move the market.
I am not yet sure if TA actually works with crypto currencies.
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
I haven't had any success with pure TA so far. However fundamentals and news seems to do better job at predicting the price of a crypto.
Or Am I doing it wrong? I tried a simple RSI strategy to trade and it didn't workout well.
Should I even bother with technical analysis when it comes to cryptos?
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