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?
Why do we study history to learn what our ancestors were doing and what mistakes and good things they did? Then learn it, trying not to repeat the mistake they made, and improve our present. Because we know history repeats itself, we should be aware of our past to avoid repeating the same mistakes. The same goes for traders. When we analyze the market, we can be aware of past incidents. When it feels like repeating, we can avoid the mistake and the losses as well. So in my opinion, studying the market through charts is important, as is technological analysis as well. The trend of the market is repeating from the past, and over the years we have witnessed It shows the psychology of investors, and it reflects that nowadays too.