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RE: Bitcoin Technical Analysis: Could be about to break up, or break down soon?
Interesting to hear that many comments to this post that I read so far have mentioned this issue, while I'm pretty much ignoring it :) I guess maybe that's because I'm mostly just trading BTC these days rather than holding it - the things I am holding long term are SP as well quite a lot of ERC20 tokens. But, yes- we will see very soon!! Thanks for your comment :)
It's nice to hear your openness to suggestions. IMHO technical analysis is important and works well within the traditional markets - but cryptos are such a different animal and move so quickly with changes in sentiment, FOMO and FUD - it's good to include these external factors in any analysis :)
Looking forward to reading your future posts :)
Thanks for very much for your reply.
But in my experience I'd say crypto is easily the best suited type of asset, that I know of, for use of technical analysis. This is because I see the main factors in how cryptos behave as being like 'crowd movement' or waves hitting a beach. The patterns are regular and repeating. Whereas with stocks, quarterly reports about profits etc are a key driver of price; with bitcoin there are no earnings/dividends to affect the market-analyst's valuations (in fact im not sure there's any real way to price what a currency-type crypto should be worth?...its all just about supply and demand! :) )