I remember in a poll in early September when bitcoin was still trading at $52-55k. Most are bearish on the market and no one thinks we will have a recovery or growth in September, and no one is optimistic about the coming months, all they can say is that they expect change in the future. But suddenly bitcoin price rose above $60k and at one point surpassed $64k, now people are gradually becoming more optimistic and they have also changed their bitcoin views.
That shows no one can know what will happen next, bitcoin is unpredictable. So what we can do is plan for both scenarios: what we will do if the price falls and what we will do if the price rises from now on.
I won't completely say Bitcoin is unpredictable.
I'm not saying that technical and fundamental analysis are completely useless but has anyone used them and been able to accurately predict what will happen next? If only TA and FA can predict the trend of bitcoin and the market, why is making profit never easy, especially with trading? Or why do people prefer long term holding option over trading when TA is used in all your trades?
If bitcoin is predictable, can you tell us what the trend of bitcoin will be in October and what the price of bitcoin will be in October? To me, TA or FA is only relative, nothing is absolute when talking about the future. Not only bitcoin but when we talk about the future, it is unpredictable, especially the financial market is always affected by news, crowd manipulation...making everything even more unpredictable.