everyone on twitter, insta reel and youtube is making prediction related to different cryptos based on chart lines. Do you still believe these chart reading?
It is difficult to trust in its accuracy in altcoins market, since only supply and demand control the price directly, but it can be considered an assistant to you in making trading decisions, as it has good accuracy in the long term, and the accuracy decreases as the time period decreases.
In Bitcoin trading, you can start by creating a demo account, searching for people whose analyzes you trust, and then forming your idea about trading. After that, you will be able to draw the same charts yourself and you can rely on them at a rate of:
- Technical analysis
25% - News and analysis
25% - Your study of the market and the nature of your risk strategy
25% - Your intuition is
25%Thus, you can get better results in trading.
Truly it is difficult to trust the accuracy of charts in bitcoin, because of it's volatility, reason why different people comes with their different perspectives of charts. In the end the unforseen factors of supply and demand in the market might swing to a different
unexpected dimension that is not expected, so it is best to take charts as advice rather than facts.
I can relate with your mathematical analyses of viewing charts, because a person needs to put some factors together in order to arrive at a decision. Charts are predictions to determine future occurrences, therefore, someone needs to have a formula that serves as a guide to arrive at the decision. Bitcoin price fluctuation as we know is quite unpredictable, so after taking analysis from different sources, this your 4/100 equation can guide the person to arrive at his own chart.