Trusting Analysis Over Personal Bias
I go with whatever the analysis tells me. It doesn't matter what my personal expectations are.
There have been many times when the indicators are telling me something entirely different than what I personally expected from the markets.
However, in the instances where I disregarded what the indicators were "telling" me in favor of my own predisposed biased expectation of future market activity/sentiment/price action, I've ended up way off.
Over time, this has conditioned me to tacitly accept whatever the indicators yield - no matter how weird, inexplicable or unlikely that may seem. The indicators are not biased. They're mathematical measurements and interpreting those readings correctly involves leveraging longstanding market principles derived from decades (sometimes centuries) of analysis and observation.
This is How I Forecasted Bitcoin Hitting its 'Bottom' in Fall 2022
Honestly, I thought we were still a ways off from being at the bottom when I made this forecast. Based on my expectations, I thought Bitcoin was going to make another leg down to the $12k realm.
However, after taking a closer look at the charts, none of the readings, indicator measurements or observed price action for Bitcoin justified this expectation (whether it did or not is irrelevant anyway).
All that mattered was what I could gather and interpret from the indicators and that interpretation led me to say "bottom".
Most Important Component of Technical Analysis = PROPER Interpretation
Do not rely on Twitter traders or other "gurus" to interpret indicators for you.
If you think that's hypocritical of me to say, it isn't. If you've read the price analyses that I've been publishing in this space for over half a decade now, you've likely noticed that I will often include direct links to stockcharts or investopedia to define terms or justify why we're reading an indicator in a certain manner.
I do this because I believe this is a critical facet of accurate forecasting. These resources give an in-depth understanding of how specific indicators are to be read or insight into what various chart patterns mean.
Having a clear, comprehensive understanding of these concepts is absolutely essential to accurate forecasting.
I go with whatever the analysis tells me. It doesn't matter what my personal expectations are.
There have been many times when the indicators are telling me something entirely different than what I personally expected from the markets.
However, in the instances where I disregarded what the indicators were "telling" me in favor of my own predisposed biased expectation of future market activity/sentiment/price action, I've ended up way off.
Over time, this has conditioned me to tacitly accept whatever the indicators yield - no matter how weird, inexplicable or unlikely that may seem. The indicators are not biased. They're mathematical measurements and interpreting those readings correctly involves leveraging longstanding market principles derived from decades (sometimes centuries) of analysis and observation.
This is How I Forecasted Bitcoin Hitting its 'Bottom' in Fall 2022
Honestly, I thought we were still a ways off from being at the bottom when I made this forecast. Based on my expectations, I thought Bitcoin was going to make another leg down to the $12k realm.
However, after taking a closer look at the charts, none of the readings, indicator measurements or observed price action for Bitcoin justified this expectation (whether it did or not is irrelevant anyway).
All that mattered was what I could gather and interpret from the indicators and that interpretation led me to say "bottom".
Most Important Component of Technical Analysis = PROPER Interpretation
Do not rely on Twitter traders or other "gurus" to interpret indicators for you.
If you think that's hypocritical of me to say, it isn't. If you've read the price analyses that I've been publishing in this space for over half a decade now, you've likely noticed that I will often include direct links to stockcharts or investopedia to define terms or justify why we're reading an indicator in a certain manner.
I do this because I believe this is a critical facet of accurate forecasting. These resources give an in-depth understanding of how specific indicators are to be read or insight into what various chart patterns mean.
Having a clear, comprehensive understanding of these concepts is absolutely essential to accurate forecasting.