Hi I was wondering what the general consensus was on the use of technical analysis in making long term investments. I know short term day traders get allot of use out of it but if I'm investing in a project based on fundamentals does the technical analysis matter?
For me, technical analysis is not really important in the crypto market. We just need a lot of money and look for tools to announce whale pump signals. It will help us a lot. The crypto market is always volatile, we should take advantage of that as an advantage.
Anyone who really understands the technical analysis use it. This is the most important assistant to any trader. The crypto currency market really lives by its own laws and it is very manipulative, but technical analysis is a reflection of the mood of market participants. Reading the chart you can understand when to buy and sell, and if I understand that it is difficult for me to determine this, then I just watch the market until the situation clears up. Of course, I know that technical analysis doesn't work at 100%, but I dont know a single tool that would guarantee the result at 100%. But the understanding of TA ensures that even if the market behaves unpredictably, the trader will still earn in the future, since the market can't always behave unpredictably.