Quote from: TravelMug on Today at 03:12:29 AM

Quote from: Cech on July 30, 2024, 08:31:06 PM

You’re right—technical analysis isn’t always spot-on. The market can move unpredictably, no matter what the indicators suggest. It’s definitely important to consider other factors that could impact price movements, since TA alone doesn’t guarantee accuracy.

That said, I’ve found the article to be a solid source of news and predictions so far. It’s been pretty reliable up to now. Mixing TA with broader market insights seems like the best approach. Can’t wait to hear what others think!

Well it did manage to go to $70k after the Trump speech and most likely this is the news that everyone wanted to hear and see that's why the price manage to go as high as $70k and this might be seen in TA and so they predicted that we could have a break out run.

Unfortunately, it was not sustained at all, so we might say that TA is not that accurate or not guarantee to be true at all instance. That's why others look for like the fundamentals instead of the technical. So with that, what you found is not a solid source of article and just like you and the rest of us, we can make this wild and educated guess.

I support Trump and I also know about his statements at the bitcoin conference a few days ago but I don't think bitcoin's rise to 70k is due to his influence. I think it is just the normal movement of bitcoin because it had many days of correction before and the recovery was not too difficult to understand.

Fundamental analysis or technical analysis cannot guarantee anything, everything is speculative and it may or may not be correct. When things go as expected, people praise it, but when things do not go as expected, people say TA is ineffective.
For a market full of manipulation and volatility like bitcoin, I think there is no method, tool or indicator that we can rely on to make accurate predictions, everything is just relative. So don't be too subjective when we pride ourselves on being very good at technical analysis.