I come from the future.
Actually, I took the 2011 bubble chart, overlayed it on the current chart to match the top, bottom, sucker's rally and resistance levels, and appended the extra portion to the current graph. Very simple TA but it has made me extravagant amounts of money so far.
In one month we shall compare the actual chart to this chart, and they might be very similar.
"But this time it's different!"
Thoughts?
Actually, I took the 2011 bubble chart, overlayed it on the current chart to match the top, bottom, sucker's rally and resistance levels, and appended the extra portion to the current graph. Very simple TA but it has made me extravagant amounts of money so far.
In one month we shall compare the actual chart to this chart, and they might be very similar.
"But this time it's different!"
Thoughts?
I'll play along and track this with you. However, I am a strong believer that the past does not predict the future. The core premise of technical analysis is that the past predicts the future. In reality, there are always many different variables in the equation when comparing different time periods and chart action. In the stock market, the only reason technical analyis works is because enough people make purchase and sell decisions using it. With bitcoin, I am hoping that the psuedo-science of "technical" analysis will not catch on.