For all my 5 months in trading, I'm learning only technical analysis but now everyone is talking about the concept of "Smart Money". So I think that trading is changing and speculators should stop trading based on technical analysis. Or smart money just a concept that cannot possibly work in the market,
Technical analysis works fine and everything that happens out there in the market both the news events are represented their in the chart ,but the problem we as traders have is that we will always make trading mistakes in your analysis or your actions in the market, and that makes technical analysis seem not working, human emotions affects the direction of the market as trader will tend to react to the changing market as sudden events like war, bad economic news etc unfolds ,While on the smart money concept, I urge you to go studied the wykcof schematic of method accumulation and distribution phase, you would realise that it plays out most of the time in the market.
Technical works both in the traditional market and in the crypto markets.