Quote from: Pokapoka124 on February 16, 2024, 11:01:04 PM

@Hatchy is right. Long term hodlers do not need to study charts, do technical analysis and all that stuff. They just have to do dollar cost averaging and buy as much bitcoins as they can afford. Technical analysis is not accurate most of the time, DCA is a less risky strategy for investors.

Although I don’t dispute the fact that an investor doesn’t necessarily needs the technical knowledge of a chart because once you’re in for a long term holding then there is no huge difference that a technical knowledge would have on that coin. But still have such knowledge is a added advantage because even though it is not 100% perfect, the knowledge of support and resistance can sometimes help you to either look for a better buy option in demand zones or sell options in support zones. Where this is most important or effective is when you combine both knowledge with DCA. Imagine haven the knowledge of a great demand zone and you know the coin bounce from there you can simply just add more in form of DCA at a every demand zone. But just have said a long term holding will narrow down the profit margin between a trader that uses this method and an investor that doesn’t.