The market volatility is too high, difficult to apply technical analysis to predict the trend. This is understandable for the nascent market, largely driven by Trader's mentality. This has made crypto coins difficult to accept in their payments and has not achieved their original purpose
Technical analysis is no longer meaningful to the market at this time. Any technical analysis wrong. Needed now just like you say, Psychology of Investors and Traders. If they still believe in the future of the market, then the market will soon recover