That's fine, but anything can happen. If the economy takes a dump, btc goes with it at this point still. Unemployment benefits ending, chinas got big problems, and a lot of other things out there. I'm holding my breath to say the least
Keep on trying to apply 70+ year old T & A to a brand new asset class. Not quite working out now is it??
Technical analysis as we know it today was first introduced by Charles Dow and the Dow Theory in the late 1800s.
Price is a momentary consensus of value between all market participants at the time of transaction. Since humans have memories repetitive patterns develop. People remember when they sell or when they bought. When many people buy or sell at a certain price level, support or resistance levels are formed. Mathematics in the form of technical analysis are useful in depicting these levels graphically on a chart. This gives technical analysts an "edge" in trading. Nothing more, nothing less. The better the analyst the better the edge for making profitable trades.
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