Is technical analysis really useful in the cryptocurrency world?

I saw a KOL on Twitter analyzing SHIB purely. This analysis method is very attractive to new investors. My view is that the trend of a coin will not follow technology. Using the results that have been released to predict the future trend is gambling. What it needs is real money to push it up. It will only rise if someone keeps entering and exiting the market. Don't fall into this misunderstanding, be obsessed with technical analysis, and don't understand the essence. This is also an important reason why some people who have entered the cryptocurrency world for many years still lose money.

The point is that if the MEME coin series is to explode, institutional funds will not be old coins such as doge and SHIB, which have been deeply trapped by many new investors. They will choose new MEME coins. After a wave of callbacks, many chips of the new coins have been collected. It will be easier for large funds to stretch, with less risk and more profit.

Is technical analysis really useful in the cryptocurrency world?

I saw a KOL on Twitter analyzing SHIB. This analysis method is very attractive to new investors. My view is that the trend of a coin will not follow the technology. Using the results that have been released to predict the future trend is gambling. What it needs is real money to push it up. It will only rise if someone keeps entering and exiting the market. Don't fall into this misunderstanding, obsessed with technical analysis, and don't understand the essence. This is also an important reason why some people who have entered the currency circle for many years still lose money.

The point is that if the MEME coin series is to explode, institutional funds will not be old currencies such as doge and SHIB, which are deeply trapped in the coins of many new investors. They will choose new MEME coins. After a wave of callbacks, many chips of new coins have been collected. It will be easier for large funds to stretch, with less risk and more profit.