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/biz/ - Business & Finance

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22032004 No.22032004 [Reply] [Original]

>technical analysis
how is that not a huge meme?
do people really pretend they can read into the future by looking at the graph of price ?

>> No.22032067

Pretty much every time I see someone do TA, they make a prediction but then offer two alternate predictions so that it's pretty much impossible to be wrong
>Yeah it'll go up, but actually this shows it might go down. Also the nigger-boron hyperband hypothesis would predict the price to stay pretty level so watch out for that

>> No.22032094

if everyone believes in the memes then they start to have some validity.

>> No.22032119

>>22032004
>2020
>not believing in magic

>> No.22032136

>>22032004

In a vacuum its bullshit, but in reality its not for 2 reasons. 1. Mass psychology is a hell of a thing, so if lots of people buy into it it becomes a self fulfilling prophecy. 2. Bots- algorithmic trading is the big money game in town and they are built to execute based on technical, not fundamental analysis.

So its not a meme, its legit, but only because enough people buy into it and not because of some a priori insight.

>> No.22032155

>>22032136
>2. Bots- algorithmic trading is the big money game in town and they are built to execute based on technical, not fundamental analysis.
wow you're really clueless.

>> No.22032235

>>22032004
humans are good at pattern recognition. you're basically comparing market conditions to market psychology. it's not foolproof but some information is better than none

>> No.22032248

I think the concept of resistance and support is real. I think the concept of a double descending candle wedge into a reverse wallbang no scope is hilarious and retarded

>> No.22032306

I will tell you all a secret

It's not that technical analysis is wrong, its that traders are not trading the analysis theyre seeing on their screen they are making the analysis into something of their own belief after they see it.

>> No.22032397

>>22032004
>>22032136
the graph represents past underlying buy/sell pressures
those underlying pressures continue into the future

>> No.22032455
File: 299 KB, 1880x1000, 13-full-moons-AdobeStock_74645303.jpg [View same] [iqdb] [saucenao] [google]
22032455

It is all bullshit! But the Full Corn Moon rises in just over 24 hours, and so will bitcoin. Prepare your bags!

>> No.22032545

>>22032067
This, every one of those TA youtubefags' videos are a long ramble of word salad terminology without ever actually making a solid prediction, with each 30 minute autismo video boiling down to "it's gonna either go up or down"

It's complete bullshit, no different than getting your fucking palm read by an astrologist.

>> No.22032555
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22032555

>>22032004
>he believes in meme magic
>he doesn't believe in meme lines