Tone Vays is one of the better known figures if it comes down to price predictions for Bitcoin. He leads trading workshops does livestreams etc. But how good is technical analysis really?
Cryptocurrency is volatile. All we can make are predictions based on trends. It could go up and it could go down. It can be a gamble like with most things. That's why you never put all your eggs in one basket.
I always stated that TA is not that effective in crypto markets. TA is like a rule in a game. If all the people respect the rule ( mature market - forex ) then the rule will apply mostly.
If there are a few people that respect the rule ( imature market - crypto ) then the rule won't apply that often. As you've said TA is a good indicator as last confirmations before placing an order.
Cryptocurrency is volatile. All we can make are predictions based on trends. It could go up and it could go down. It can be a gamble like with most things. That's why you never put all your eggs in one basket.
good or bad...interesting point of view
I also don't believe in chart analysis
I always stated that TA is not that effective in crypto markets. TA is like a rule in a game. If all the people respect the rule ( mature market - forex ) then the rule will apply mostly.
If there are a few people that respect the rule ( imature market - crypto ) then the rule won't apply that often. As you've said TA is a good indicator as last confirmations before placing an order.
Steem on!
If it would be possible to predict crypto with TA, than where is all the fun? :D