If Technical Analysis and following the right people works, then why doesn't everyone do it?

>If Technical Analysis and following the right people works, then why doesn't everyone do it?

because most people are lazy and/or stupid

But you don't need to be smart to draw lines from peak to peak and know when lines cross. Or follow Phil on Twitter.

Because useful TA is much more nuanced and conceptual than what the retail plebs are led to believe. The free stuff you see online (aka meme lines) is meant to be easily digestible and "work" out of the box - not profitable

It's an art, not a science. and it takes a lot of studying (which most aren't willing to do)

TA is mathematically invalid. You cannot predict a random walk.

all indicators point towards a dump either tonight or within the next 2-3 days

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I've seen you embarrassing yourself in multiple threads now bobo.

When you say dump, do you mean re-tracement / dip, or full on dump (to $4k)? Not too interesting in the small dumps but the bigger picture.. All indicators overheated but who knows how high this can go before it comes crashing down

btc is traded on emotion and manipulation, normal TA does not work on it

hey bro im still waiting on MAS to moon like you said. I went all in because you are always right, but I feel like I'm missing out not being in BTC.. what should I do

>there might be a correction after a 20% run on bitcoin

Wow thanks for the insight you stupid faggot. How did you escape my filter jail btw? I shouldn't be seeing any of your posts.

It is a fatclap thing. Snake oil salesmen has become a cultural trope where they need a named person telling them what to buy and entrusting their hope into.

Here in Europe you don't get any of that stock tipster shill bullshit.

Okay, this is it, Bitcoin is crashing to $2k

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/thread

Millions of people read technicals, business books and magazines, and yet most of them get marginal results.

Here's the secret. I'll give it to Jow Forums for free: you will never get rich because of a channel you watch or a book you read. It can help you a lot, but ID: vgGkxcVx nailed it

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Then what do I need to do?

much this.

Because it only works sometimes

the only TA that works is the TA you do yourself
not you though, it won't work if you're a seething brainlet

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as you can see we re-entered the channel.
expect a dump down to about 5600 bitfinex prices before a possible bounce. and the lower option would be around 4.4k
tonight or tomorrow we should make the official break downwards.
screenshot this

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ascending broadening wedge is very bearish incase you idiots didnt realize this. anyways screenshot my posts to neck yourself later for being a absolute emotional estrogen filled faggot

But if is a self fulfilling prophecy. Then everyone else must reach the same conclusion?

not this goof ball again jeez
been wrong SOOO many times

BASED, you been a fag in the past, but thats the name of the game on BIZ. 100% with you on this one fuck all the haters

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Shut the fuck up, you insufferable cunt discharge. As always, post your positions or get the fuck out.

TA isn't a prediction tool. It is for risk management.

>philakone
It has been a while since I last saw him mentioned here, Last I heard of him he threatening to hire a hitman on his ex, kek. Let me tell you the truth about this clown.
I followed him from the very beginning around September 2017, back when he was a nobody with 200 views per video and less than 500 followers on twitter. I found him because he did a lot of TA on ETP Metaverse, a coin that I was interested in at the time. I was a summer 2017 newfag, completely clueless about the market, so when I saw him draw all of his Elliott Waves, all of the trend lines and Fibonacci levels and all the other shit that he draws but never uses, I was impressed. This was during the great bull run. He did TA on as many coins as he could, all projected to go up. And he was right, because it was the bull run. So his popularity grew. Then the bubble popped he continued to do analysis, except he was dead wrong about it all. His popularity was exponentially growing still, but his analysis was terrible. His popularity grew largely because he posted a lot of his trades and he was consistently winning. That is true, he is an amazing SCALPER, I learned from him myself, but that is all that he is. I said that he did TA with shit that he never uses, and that is what I meant. He draws long term charts that were only correct in the bull run but he does not trade long term. He is a scalper, his trades do not last longer than a few minutes typically. Anyone who knows their shit will tell you that his TA is trash, he makes so many mistakes that noobs do not pick up on. He does not trade on his long term TA. He draws Elliott Waves but he never uses them. He only trades reactively on short term bear/bull divs. You should not be following him if you want to learn TA.

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>thinking TA works on BTC
*maybe* in the very short term, but thinking you can TA btc into the long term is mentally retarded

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I don't get it. If everyone is doing the same thing, wouldn't any TA already be priced in?

LOOK AT THIS DUDE

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everyone does it, and that's why it isn't successful. winning strategies are subject to diminishing returns from the crowds all piling on and the situations that did exist that were profitable at one point are ground down into nothing.