Isn’t all TA using past performance to predict future performance?
PREDICTION - Bitcoin about to increase 120% to 568% - Based on 2 Years of RSI Data! (Screenshots included)
@matty “Past performance is not an indicator of future performance.” Actually, I believe that it is an indicator, but that doesn’t make it a confirmable truth.
Yes and most TA has been wrong the last month. Just go look in the ICON thread
I think it can be a fun hobby but I wouldn’t be betting my money against TA.
If their was no truth behind TA it wouldn’t be a thing…
If it was gospel everyone would be rich
Matty, to become good at TA, it takes serious time and serious practice. It has been proven that data paired with technical analysis and experience is profitable for experienced traders if they win on just 50% of their trades. It’s true, that you can lose money doing it. However, you can also lose money just holding.
Professional baseball players make millions of dollars per year, they’re successful. It is a fact that if you are a professional baseball player, you will make more than the average person. However, those people are there because they took tons of time and effort learning the sport, and mastering the sport. Don’t shut technical analysis down just because you may have been hurt on a few trades. That says nothing except that you haven’t been in the game long enough to master the art of TA. Technical analysis is an art; ask the Dogelord, ask the Wolf of Poloniex (@wolfofpoloniex on twitter).
Especially the Wolf, and I say this because he may be the best TA trader in the Cryptoverse. He’s a genius. Wanna know what he attributes his success to? TRIANGLES! No joke. Triangles and basic beginner TA. You can learn about it on the #b90x. You can also hear it straight from the wolf himself. Check here: https://steemit.com/cryptocurrency/@wolfofpoloniex/bare-basics-of-trading-cryptocurrency. Seriously check it out! It’s a great post.
I’m not trying to talk down to you, I try my best to respect everyone in the pub and the reason I posted this TA here was to generate discussion and see what actually ends up panning out. I’m really excited to see what happens, crypto gets my blood going, and it’s a hell of a lot more fun to do than my college homework.
I’d like to rewrite your above statement: if everyone studied and practiced it like it was gospel, everyone would be rich.
I also would like to add that this is just speculative TA and encouragement for those who are bummed at the recent downtrend. I’m not advising anybody make any huge decisions. That’s on them!
Talked about yesterday in my youtube video about Bitcoin, I completely agree!
If I had to choose between going up or down mid to long term I think it will go up
Most of the coin’s marketcap value are sitting <2% while bitcoin is sitting at 34%. So if all the shitcoins go to zero this will increase the good coin’s marketcap value by a huge percentage over 5% (crypto_jebb’s video mentioned 5%). This most likely will occur after the “bubble is popped” when people realised that most coins ain’t what they were expecting.
im a btc bull, but we cant take a quick shot up like we did in dec/jan. the faster we go up, the less support on the way down.
Have you seen a graph that does not show a pattern or a trend, If you dont its because there isn’t enough data or sample size ? I think you are thinking of the one ideal pattern but there is actually a lot of different patterns. The pattern might not be look easy to read at first but there is always a pattern in it, and once you find it, it’s worth researching on it. Even within the pattern there might an outlier due to an external force, you might not be able to see it in this chart, but if you have 10 charts, you will see a pattern happen. Manipulation in itself is a pattern, if you can do it in the past, you can do it in the future.
What if you see both? : o
With practice, people can see both
If I was to predict my lifespan using past performance, I would have a lifetime of increasing amount of statistical data suggesting I´m immortal. I would be the most convinced of my immortality just before I die…
Im a noob but i love that term “golden cross” it sounds so strong. To the moon i say!
UPDATE: - Day 8
Since the RSI Crossover on Feb 5th, 2018, (8 days and 12 hours ago) we are up 59.54%.
February 8th, 2018 --> February 14th, 2018
Price low: $5,273, Current Price: $9369.69 (and climbing!)
UPDATE - Day 10
Since the RSI Crossover on Feb 5th, 2018, (~10 days ago) we are up 75.51%.
- RSI is currently centered and moving up.
- MACD looks good with SMA above EMA at upward slope, nice and steady, not too sharp.
February 6th, 2018 --> February 16th, 2018
Day 1 Low - $5,273,
Day 10 High - $10,307
1 Day view
4 Hour Chart Analysis:
- We can see that the RSI (purple for the noobs) crossed the 70, which followed an immediate pullback (as expected)
- The 4 hour MACD appears to be about to cross in a “death cross” (remember that this is just the 4 hour, the 1 Day chart still looks great), so we can expect a pullback due to this second indicator.
- The above chart is following the expected pattern nicely. I expect bitcoin to continue it’s upward path well past 100% over the next 30+ days.
4 Hour chart: