RE: #burnsteem25||Steemit Crypto Academy Contest // S4W1 - Crypto Market Technical Analysis by @rafk
Since the market mostly work on repeated price action, technical analysis, used pre-existing market charts and compare them with recent happening in the market
Well, this what psychology is based on that the market repeats itself, some though do not believe this statement but in life we should make assumptions sometimes.
We should bear in mind that the market is so volatile so picking a trading plan should be that which favors the nature of the market.
Yeah, we should always backtest our trading strategies on previous price reflections before using it on current market as we are putting our resources on the line.
Technical analysis in some ways can produce inconsistent results.
The high chance of surviving with technical analysis depends on the traders knowledge.
Please find time to visit my post as well. Good luck!!