Post
Topic
Board Speculation
Re: Value of technical analysis vs sentiment for you
by
Harlot
on 06/03/2020, 21:32:37 UTC
In my view, technical analysis isn't much more than looking at charts and drawing lines. So called analysis that focus on bitcoin markets tend to completely overlook factors such as volumes even.

Let simply put it this way, technical analysis have existed for a long time to be deemed useless. It won't be used in the stock market and the forex if it doesn't hit any kind of price forecasting done by their own TA, but since it has been effective for them it still managed to be learned and be used frequently in these markets for several years now. Yeah sure if you look at these charts you will only see the lines being drawn and the bars it will be showing, but what makes it useful is how an analyst can translate these charts on where the asset will be heading or has the highest chance to go. I do look at the TAs of other people especially in Tradingview but I don't instantly believe what they are trying to say but what I do is to try to validate it on my own with my analysis. With this thing I can also learn on my own and see if what they are trying to say is accurate or not.