Quote from: m2017 on October 15, 2023, 04:03:34 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?

Of course, I can't know how it really is, but I think that technical analysis is bullshit. If “technical analysis” worked, then all traders would have become rich long ago by making their forecasts based on “past charts (candlesticks)”. But as you can see, for some reason this didn't happen. I assume that this is primarily due to the fact that the future can't be predicted (based on technical analysis), because at any given time, many side events can interfere with the course of events that will change the current exchange rate of cryptocurrencies. There is a human factor in the cryptomarket, which is extremely unstable. Under the influence of the news background, any trader can buy or sell, which will cause a chain reaction, influencing the actions of other cryptomarket participants. It's impossible to predict. Because the cryptomarket, like any market, like the stock market, is a chaos of events. Try to predict this using some kind of chart, the past. This is impossible.

It might not work all the time but this is something better that you should really know on the time that you do make trading because we do know that making up some entries or exits without having those kind of consideration or any analysis would really be just that a pure gamble. Its true that precision would really be always in question since prices cant really be just going in line with those indicators been saying but at least on that technical side of it on which we are really that fully aware on what are the possible paths that it would be taking. Even though it is really that hard to prove out its relevance but movements do sometimes do really getting in line with those technical approach on which if people or trader do find out those kind of patterns then they would really be tending to believe and conclude that it is really that something recognizable on doing such action.

In case on that you dont really believe on TA's. Then how you would really be able to predict prices? Via that intuition or some voice into your head?
You arent doing trading but rather you are already doing gambling yet making out some positions without any analysis involved or any technicals around
then its not something that would really be ideal on doing so.