Technical Analysis is NOT Bullshit - Definitive Proof(in my eyes, at least)

idcinc (62)in #bitcoin • 6 years ago (edited)

As I've written about in the past, I get frustrated when I here people talk about TA being "random lines" or "completely useless," partly because I saw right off the bat that was not the case and chose to do it for the rest of my life, and partly because I know they are missing out on so much. Of course I know that no one can predict anything with 100% certainty, but I also know that there are few people that are really good at predictions using TA and many that are very bad, hence the common opinion that frustrates me. People try it and fail at first and close their minds to it immediately before learning enough it to succeed, they'll call it useless. Some people might try to follow the people that aren't very good and end up getting rekt, so since one person's TA only led to them getting rekt(not that it's the other person's fault), they decide TA is useless. Sometimes these people end up prominent in the crypto space by other means and up talking nonsense... Sunny Decree on YouTube was one of them, which I mentioned in my previous article which was mostly just my long comment on one of his videos. Since then he has decided to give TA a chance and I haven't been paying attention but I bet he's been starting to gain subscribers a little faster then he expected to in the bear market because of it.

Vincent Briatore was another non-believer that I started bugging again recently with a link to the video this post is about and a several photos of my recent successful predictions (in case they didn't have time for the video) on the U.S. Dollar Currency Index(DXY), The Dow Jones, EUR/USD and the S&P 500 that finally played out today as DJI booked it's worst 1 day loss since February.

Here's one of them(click or tap for full size):

I set out to make a video that would prove to me either as a complete noob to investing or an experienced investor that doesn't believe it that there's definitely something to it. Something that would make me think as a skeptic, "holy fuck, I should give it a shot..." or "wow I'm gonna follow this guy to see how his shit plays out in the future, maybe I'll even find it worth learning." My first couple takes were way too long because I blabbed too much as usual, so for most of the video I just stay silent and showcase a lot of my charts and how the price action responds to key fibonacci levels or harmonic patterns. When I'm all done I go on a rant about bitcoin is bullish(at least until proven bearish), but it has basically just been waiting for the what started to happen today...

It's not great by any means but I think I succeeded in what I set out to do. I'll eventually make it a a series in the future that will hopefully have better production value and whatnot. Still barely motivated to do anything at all with my crypto portfolio still in the dumps and the two coins I sold at a big loss because I had to pay bills(and partly because I wanted more cheap PIVX) ended up running to the moon(VIBE and MDA) without me, while PIVX is somehow still frustrating as fuck. I have a theory that the better coins end up consolidating much longer than the others because the big players know it's good and they want more more more... then the breakouts are of course all the more powerful after the lengthier consolidation period. Anyway eventually this shit will skyrocket and I'll be fine. Even if I'm wrong, I'll eventually be fine selling at a loss and playing on bitmex/forex/stock markets. It needs to make a fucking decision though. It's killing me.

#cryptocurrency #stocks #forex #dxy

6 years ago in #bitcoin by idcinc (62)

$0.09