It is because no matter how excellent a person is in their TA, it is still a guess. No one knows what will exactly happen on the next hours for Bitcoin. TA had become a norm so somehow the market moves along to what it intended to be making some of the TA correct, but for those whales who do not follow it, can easily bust that TA made by any seasoned analyst. And besides, why does there are several TA method? Because each method is not accurate to tell the next movement of the price. Does this TA predict this recent price crash?
It was unsustainable ($13,800) because several holders exit for a profit and probably this:
Agreed. That is why I blame Tom Lee. He told everyone in the beginning of this year that bitcoin's fair value is $14k. He is scamming with everyone. $14k is his target to dump hehehehe. He tricked us!
Fundamental analysis is not a guess. At certain hash rate levels and electricity rates there is a specific cost to create a coin.
Every TA (which is usually morons with rulers) was saying BTC 18k! 20k! 82.5k! On June 26-now Just absolute nonsense. They are looking for clicks and views, and most of them care nothing for the people that read their garbage.
If you want to know when the risk level for bitcoin will be reduced please check out my site:
https://www.amsinger.org
Aaron