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RE: Technical analysis is NOT bullshit
Hey man, can you recommend any good technical analysis books to read? I’m still not convinced it works well in the crypto sphere, however, I would like to educate myself on the process to be able to test it for myself
I've never really been a book reader, and so far I haven't read any books about the subject, so I can't be any help there. Everything I've learned, which I know is nothing compared to the knowledge that's out there, I've learned from YouTube and google search. The first person I started learning from was @dalinanderson(High Altitude Investing on YouTube). I believe he took down a lot of his older instructional videos, but I believe it's still possible to learn most of the basics for free from his channel. Node Investor is another good one. Carl "The Moon" is pretty new but his videos are informative(especially for someone who knows nothing about T.A.) and he has been right more often than wrong from what I've seen. In general, I agree with his views of the world economy and cryptocurrencies, however some things I'm forced to take with a grain of salt in his case due to his apparent lack of experience and certain things I disagree about("Bcash is scam," namely). There's several more good ones I haven't mentioned, and I left out Tone Vays for a reason... other than that you can search YouTube/google for "fibonacci retracements/extensions," "chart patterns and rules," etc and easily get decent information on the specific part of T.A. you want to learn at any given time.
I'm inclined to agree with Richard Heart when he said in an interview with IvanOnTech that he thinks T.A. works even better in the crypto markets than it does in other markets, though I don't have enough experience to have much say in the matter, nor do I agree with his analysis concluding that "the bull market is dead"(he says that at the 30:00 timestamp in the video) back then in February. Another thing I agree with him is that everything got a LOT more difficult to predict when wall street started getting in, which is why his trades started horribly failing and he is salty lately. The quote about TA working better in crypto is at the 33:50 timestamp in the video.
I noticed that @luiggih mentioned she has read books about technical analysis, so perhaps you might go ask her.
Wow thanks very much for the in-depth reply! Looking forward to learning more about it!