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RE: Steemit Crypto Academy Contest Season 4 Week 1 - Crypto Market Technical Analysis

in SteemitCryptoAcademy2 years ago

Technical analysis focuses on price data history to build the basis of its prediction, looking at previous trends, demand, supply zones, etc.

You are absolutely right . Besides above mentioned points , we can look for some chart patterns formed in past and expected to repeat in future and behave in a similar manner as that of past . Basically represent the psychology of the traders and actions taken on the basis of that and we expect humans to behave in a similar manner on different occasions based on their psychology.

Hence it's advised to always have multiple layers of confirmation before executing a trade idea.

That's absolutely true and wise advice .

This could be disastrous for traders as fundamental data tends to push prices hard.

Yes fundamnetal analysis is very important especially for long term traders.

Good luck

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Indeed. A harmony between technical and fundamental analysis is important in trading.

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