TA may be good for finding entry and exit points for established coins, but not for finding which ones are going to moon next.
Well, yeah, it may be true. We cannot determine what coins will moon next by using one indicator or this kind of analysis. Let's see what the technical analysis is:
Technical analysis is the study of statistical trends, collected from historical price and volume data, to identify opportunities for trade. Technical analysts observe patterns of price movements, trading signal and other analytical tools to evaluate the strength and weakness of an asset.
From this, we can see what is the aim of the technical analysis. This is one of ways that can help us to analyze the market in order to know the movement of the crypto. With this analysis, we can decide what we will do next, whether selling or buying the crypto in certain period. It is also to know the movement of uptrend, downtrend, and also sideways. Once more, this analysis is to analyze and research the market movement whether the analysis is true or not, exact or not, it will also depend on how you make the analysis. Sometimes, the analysis will work in someone to get profits for trading. However, sometimes, it will not work on other people. t may also be caused by the systems and also other indicators that are used.
but in most cases, TAs dont work in most alts. the reason being - when the devs decided to stop their developments and move on. how can you apply your TA knowledge for a coin that is doing good for quite sometime and suddenly abandoned by the team?
this is the problem here in crypto. as the fate of most projects relies on the dev team managing it, you have no way of knowing their final motives for the project