Post
Topic
Board Speculation
Re: Bearish Inverse Pennant Chart Formation
by
SwannyMatt
on 11/04/2013, 05:05:59 UTC
First off, I aint selling.
Secondly, I do believe chart patterns are mostly -- if not entirely -- a sort of self-fulfilling prophecy.


What? Someone care to explain this statement?

Line 1: Not selling in case I'm wrong. Because the fundamentals for bitcoin obviously haven't changed. But the technicals clearly have, and perception may have changed.

Line 2: I believe technical analysis is pseudoscience/self-fulfilling prophecy, but I use it as an indicator anyway only because I know lots of other people in the market trade that way.

Comprendé?