Quote from: Zigabel on Today at 02:54:18 PM

Quote from: heartbit.offical on September 27, 2023, 07:41:19 AM

Everyone knows that we can learn from the past to correct mistakes.
As a result, many economists attempt to predict the future through history.

We also have a known fact from the past.
The "Bitcoin halving" is correlated with price increases.

I'd like to pose a new question here.
What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?

When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."

What are your thoughts on this matter?

Candle sticks are the representation of what investors and speculators are doing in the market, they represent the actions of investors in the past and in the present from which you can possibly have a clue to what the possible future could be, just like the normal human life history is mostly like bound to repeat itself and so when ever there's a clue of a past events people most often prepare to for a similar experience as like that of the past.

Basically that's technical analysis. There are possible reoccurrences on the chart which are the reflection of what happens in real life, even investors looks at the charts and wait for movement to a particular point and they take actions hence that point becomes a point to note for investors to always look out for so they can take actions from there. In technical analysis you have to first look out for possible events on the chart, why they happened and when it could possibly happen again because this will be reasons for future decisions on what price could possibly do. Everything in the real time play out on the chart even the effects of news is usually seen on the chart with the way candle sticks will be formed so with a very good technical analysis you may not necessarily need other views as the summary of them all appears on the chart.

If candle sticks arent really that significant then charts wont really be existing on the first place considering that these are indeed showing the behavior in between buyers and sellers on which it would really be that normal
that people or to those who do trade will really be making use of those tools or indicators on which they would be able to picture out on whats happening within the market.If it was that relevant on the first place then it wont really be something that helpful or something that useful and it wont really be existing in the first place if it wont really be showing something. TA's are really that useful if you do really know on how to make use of it
but if you dont then it wont really be something that significant. There are really that people who dont mind much on using up these things without even trying to realize on how useful this thing is.
You cant really just that barge in the market without having considerations on making use of this tool or indicator. You cant really be able to read up the market well if you dont even know on how to read up
those candlestick patterns. This is something a skill that must have or something that should be learn so that you do have the idea on how you would really be handling yourself on a volatile market. It would really
be needing this kind of approach on which its a must thing to have or known.