$BTC plays a key role in regulating altcoin prices. Bitcoin is Digital Gold, which serves as a benchmark for prices of other coins and blockchains. This article will discuss how not to conduct technical analysis, and why we often make mistakes in forecasts based on obvious patterns (a figure on the price chart that characterizes the current market situation and allows for forecasting future developments). I often fall into the same traps and publish incorrect forecasts based solely on certain patterns. Greed and the possibility of quick easy money lead to their loss. Here I will leave a link to an article that indicates the right approach to crypto trading (Article for safe trading). When conducting technical analysis (in my opinion), it is worth paying attention to such aspects as:
1) Price of $BTC
2) Price of the Blockchain on which the coin operates ($ETH , AVA, DOT, TON)
3) Insights and news regarding the chosen coin (usually the latest news that characterize the upcoming rise or fall, you should check the coin's website)
4) Not as important as the most obvious aspect - technology (that is, what relevant idea and novelty the developers of this coin offer)
5) Trust of the community (characterized by news about possible scams, illogical actions by developers, such as withdrawal of funds, or irrational distribution of coins)
Only by adhering to these aspects can one significantly reduce the risk of losing their investments
Good luck to everyone, Faramir_lord