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 there in the chart, but the problem we as traders have is that we will always make trading mistakes in our analysis or our actions in the market, and that makes technical analysis seem not working perfectly, 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 study the Wyckoff schematic of method accumulation and distribution phase, you would realize that it plays out most of the time in the market.
Technical works both in the traditional market and in the crypto markets.
Not only technical analysis works in cryptocurrency trading and the fact that such is being used does not give the accurate conclusion to wether it could be the best of it all, we can also have some available alternatives in most times, it's in our new attempts on using any of the means or strategies in performing our trades that determines what we see in reflection of our kind of trade in consideration most times, we may just also needs to know much of ourselves than the other prediction analysis we may have.
There's no such thing about accurate specially on dealing with a speculative market on which it would be just that normal that any analysis wont really be that precisely giving out that kind of result
which neither you would be right or wrong and there's no way on knowing it but at least applying out any analysis is much more preferred than making out some price entries without
any basis because it is really just that pure gambling. Trading does really need up that kind of approach on which it does really need up that seriousness about it.You cant just make out entries
without any basis and this is why you would really be needing to plot those indicators.
Just like on what some people been saying that you could really get in line with it with some fundamentals if ever its really that available because technicals wont really be that effective
if there would really be having some news which it could possibly affect out the movement. You would really be able to experience for yourself
about those drastic changes and be able to know on what you should gonna do next.