Whether technical analysis is useful has always been a controversial topic—sometimes effective, sometimes failing. 🤔
Sometimes I also have doubts, but I have no other choice: I don't know the big players, so I can't accurately capture the direction of capital flows; I also don't want to easily trust the backgrounds and endorsements of companies or project parties.
Therefore, I can only make judgments based on the most intuitive technical analysis available to me. Just like the lines drawn on June 26, which have not changed to this day. After the breakout, the market did experience a significant surge, which is certainly a result of capital pushing, but we cannot deny the guiding and reference role of the marked lines in the chart.
Personally, I believe the value of technical analysis lies in:
- Providing a perspective to observe the market
- Building a framework for planning and executing discipline
- Allowing individuals to be more disciplined and clearer about risks, pursuing the possibility of profit in a more systematic and rational way.
I'll take a look over the weekend and prepare to write ✍️ a longer article about technical analysis! $ETH