Quote from: Biznesmen on November 11, 2023, 09:31:02 PM

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.

We look at the record of the past, because we anticipate that it may happen again in the future, but that does not mean that the past repeats itself, something new can happen. It is possible that what happened in the past may not happen in the future. Just as when Bitcoin was trading between $28k and $29k many analysts and experts were expecting Bitcoin to fall to $20,000,but instead of falling to $20k, Bitcoin crossed $35k.

You are right that chart reading is important but this is a crypto currency market anything can happen. We should not only rely on the past or charts, but prepare ourselves for all kinds of situations. News also has a huge impact on the crypto currency market here and often good news plays a major role in pumping up the crypto currency market and bad news does not spare the market.