I've seen a lot of you looking at Bitcoin charts and trying to predict prices. Do I have to remember certain rules or be really good at technical analysis to make accurate predictions? What tools or methods do you use to predict prices? I have enough time and I'm excited to learn the strategies you suggest so I can understand the market better.
https://bitcointalk.org/index.php?topic=1493.0I have seen some suggestions under some headings but they are too technical for me,(like this thread
https://bitcointalk.org/index.php?topic=1493.0) Do you have more beginner level suggestions?
There are two (2) ways in order to somehow predict the prices with basis: using extrinsic and intrinsic technical analysis on the price of BTC.
For intrinsic analysis, this include all the factors that a certain cryptocurrency may affect its price. This includes the performance of the cryptocurrency over the years when it was created and you may also apply stock technical analysis techniques in order to support your conclusion.
For external analysis, this include all the factors that affect its price that does not include the performance of the crypto. For example, the war between Ukraine and Russia; the prohibition of countries of cryptocurrencies, etc.
At the end of the day, there is no absolute rule when it comes to prediction. These are only tools in order to help you arrive at a decision on which odds are greater than the other and this also does not guarantee that you will profit at the end.