Does technical Analysis work

[Anonymous No.56833224]

Looks like male astrology to me

[Anonymous No.56833249]

>>56833224
Well people keep making bearish TA posts every single day while BTC chadfads from 15k to 40k so I don't know

[Anonymous No.56833328]

>>56833249
>Oh my god the charts, I predict it will go super high up my ass and past my mouth

Does this actually work for trading, is there some truth to it or is it 90 percent bullshit

[Anonymous No.56833373]

>>56833224
>it's astrology!!
You're holding some heavy bags. People who cry and moan over TA are doing so because the TA in question is bearish. Whenever it's bullish, they support it.

[Anonymous No.56833406]

>>56833373
Sorry to say that's not the case, just want people to explain how this is useful

[Anonymous No.56833415]

>>56833224
>i found some patterns in a chart, surely it will repeat and i will be rich. i am a genius

[Anonymous No.56833473]

>people have a collective belief that certain patterns and indicators work, so they do!
never wanted to waste my time and mental health on something like this

[Anonymous No.56833474]

>>56833224
Your mum looks like a man to me

[Anonymous No.56833510]

It does work in a certain sense. You want to use basic trend lines (where floors and ceilings are, triangle patters, etc) to help you visualize what the market is currently doing. You then figure out what the majority of traders are expecting to happen based on that info. It's still guessing, but it takes you from a 50/50 guess to a 60/40 guess.

[Anonymous No.56833548]

>>56833224
Depends on your IQ. Take picrel for instance. The more a price crabs at a support, the more it tests that support and the less it bounces, the more bearish it is. It becomes more and more likely the support will fail and the price will crash down below the support. Low IQers were thinking picrel support-testing was bullish and meant the support was unbreakable. High IQers (those who the bulls back then were giga-seething at) knew BTC was obviously going lower than that ~6k support.

[Anonymous No.56833565]

>>56833224
You can't analyse luck. Higher is the risk higher is the reward

[Anonymous No.56833567]

>>56833224
It does until it doesnt

[Anonymous No.56833597]

>>56833328
there is truth to it, its just not an exact science. though trading without basic TA is just gambling, you have to know AT LEAST rsi, bollinger bands, and MACD. That will help you a little bit.

[Anonymous No.56833601]

>>56833224
Because it is, for most part. There are some psychological patterns that repeat, though.

[Anonymous No.56833680]

>>56833473
So you admit knowing nothing about it and the psychology you can infer with it

[Anonymous No.56833863]

>>56833597
Thanks bud, I'll look into it.

Anything else you would recommend?

[Anonymous No.56834226]

>>56833863
Honestly, I don't trade with anything else. My father was an investment banker at Deutsch Bank, and only used volume, rsi, and bollinger bands, so its enough in my opinion. I also add MACD because it helps me making my final decisions.

[Anonymous No.56834243]

>>56834226
*it helps me in making my final decisions
jesus christ how did I let that slip

[Anonymous No.56834563]

>>56833328
99% bullshit.
The only thing a chart can really tell you is to stay away. And no I don’t mean short. If you see a shitcoin do the whole flat and down over time with decreasing volume, you know it’s dead.
But whether you should be longing or shorting bitcoin or eth whatever based on some esoteric pattern is 100% nonsense.

[Anonymous No.56834567]

>>56834243
Thanks a ton man, may god lead you to prosperity and good health

[Anonymous No.56834578]

>>56833224
It is but it's what gives some people the ""ability"" to make money even if it's just basically betting on black.

[Anonymous No.56834642]

>>56834563
Actually scratch that, people have revived literally dead shitcoins with 0 volumes past ATH before, so no TA tells you absolutely nothing.

[Anonymous No.56834756]

>>56834567
yea i sure hope

[Anonymous No.56834774]

It wouldnt work if people werent predictable

[Anonymous No.56834804]

>>56833224
It works in probabilities. There is no 100% this will happen but you could find a 60/40 chance that may give you the edge.
Personally, astrology is just as accurate

[Anonymous No.56834809]

>>56834243
it's Friday night, so i get it, but you also slipped an E.

it's Deutsche Bank

[Anonymous No.56835183]

>>56833224
there is some truth to it. there are different styles of traders. I attempted to start a day-trading general a week or so back but very few were interested in learning. pic related.