Quote from: piramida on April 30, 2014, 03:40:16 PM

Quote from: JustAnotherSheep on April 30, 2014, 03:36:14 PM

if you bought at $600, price is falling and you know it will hit $300 before a bounce

How do you know? The whole point is that nobody knows exactly how the far it goes, both ways; but from below it's limited by $0, so upside is much higher. It still makes more sense to hold through a temporary loss than to get left behind.

Technical Analysis, while probabilistic, can more often than not give you fairly accurate price targets and predictions. As long as you account for this probabilistic nature and have reasonable margins of error, there's a good chance you can use the analysis to make a profit. Especially, as Mat (I think?) so eloquently put it, in such a sentiment-driven market filled with noobs and clueless "hodlers" as Bitcoin, making price movements all the more predictable