Technical analysis is useful only in the case of inaccurate forecasting of the market path "range and stability" but the prediction of the rise or fall depends on factors such as:
- Mempool: more unconfirmed transactions, the higher the probability of price rises.
- News: divided into news affect the price directly, such as news of hacks and regulation and news affect the price in the future, as ETF accepted.
This is my personal experience and not reliable.
News, this is the truth and more often has the biggest impact on the market. At this time, even the technical analysis that was used might not work at that time.
But usually even the forecasting of market are stable, most people still using it maybe its just for make sure they didn't do any mistakes.