Sideways trends have proved that technical analysis doesn't always mean anything.
About a month ago we hit 30k, and TA is constantly predicting a breakout up or down, usually up, but instead the market crabs sideways, something only a few people predicted, and most of them didn't use technical analysis to figure it out.
TA is such a pointless endeavor in a market that is so controlled and volatile by the current BTC price action, especially if it is dependent upon the behavior of whales.
What do you think about it?
Like you have said there: being dependent on the actions taken by whales. That goes to show you that cryptocurrency is volatile, but that’s not to say that technical analysis is useless in the market. No it is useful, but since the market is also being influenced by other factors, that makes it difficult to difficult to actually predict the market by using only technical analysis. You will have to be considering those other factors as well.
There are people, especially day traders that are using technical analysis and fundamental analysis to predict the market everyday and they are using it to make income.
logically whales will not act every day, so only under certain conditions whales pump and dump market. from that side, every day the market sometimes moves normally, and from that technical analysis reacts, and many are successful. but of course it's not only TA that determines the success of each transaction