Sorry for the wait on the posts. Life has been hectic but today's change in the markets made this post a priority for me. Video after video and article after article talks about flags and resistance points. Let's be honest. It's all guess work. Technical Analysis can never account for market manipulation and pump and dumps. Speculation, fear and confidence is the game. What is the cause for the decline in the market today. Could it be a selloff prior to the Consensus Conference? What TA could describe that type of manipulation? Or Mt. Gox sell-offs... how does TA account for it?
All that being said, there is some merit to it. Investing runs in cycles so TA can provide great historical context to help you with helping make educated guesses. But when I saw last week an analyst describing the recent pullback using a bouncing ball analogy, I was disgusted.
Let's do the work guys. Research the projects, follow the partnerships and take the time to see if the tech really delivers what was promised. Right now we don't know who will the Google of crypto but the most aggressive projects will win. My bets are on ETH, XRP, and EOS. What say you?
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