Quote from: Jackl87 on August 09, 2022, 09:56:20 AM

Quote from: Ketesnuko on August 08, 2022, 12:10:07 PM

Today BTC moves are more bullish than ever, my chart says we going to 27-28k and many people are waiting for 10k BTC, I think charts don't lie like people do, if a bearish signal is coming your chart will tell you but sitting on your hands and hoping for a satisfying buy price can leave you with many regrets.

I don't really agree here with your statements that charts don't lie. If you follow crypto analysts or just financial analysts in general at social media then you will have everyday a new trend analysis in your feed which tells you that, "a breakup will happen in the next days" or "if the resistance at xx $ holds then it will only go up from that point on" or other statements. Sometimes those predictions become true but i would say that in most of the cases they turn out to be incorrect.
The problem with chart analysis is, that it has the requirement that in the future things are developing the same way like in the past and that is just not true in the real world in many cases.

Charts do notlie; people just do not understand the full meaning of the charts and that’s the problem. Normally charts show you what you can do with it, but they do not show you what you shouldn't be doing neither, it just shows you how you could end up with a good result in the long run if you just keep it up. I personally believe that charts are what the markets "should" do and not what it will do.

Just a great example would be a chart showing doge will go down and then Elon saying he loves doge and bought 10 million dollars more, price will go up right? Chart didn't lie there, chart showed you what it "should" do, but then something happened to change that.