Technical analysis

does technical analysis work?

Honestly it seems like meme garbage when it comes to predicting things.

how much time have you spent looking into it?

Honestly not a ton. I was interested in it but the little bit I looked into it the more it seemed like it's basically just as accurate at predicting shit as drawing any meme lines you want and claiming there's a pattern. I'd give it more time if a significant amount of the analysis I looked at actually panned out.

but how do you know you were doing it right?

Look up Renaissance Technologies, perhaps the most profitable hedge fund in American history. Averaged >35% annual returns for 20 years straight, including a 98% return in 2008 during the housing bubble. Their secret? They do absolutely no fundamental analysis, only technical.

If you're still convinced TA is bullshit, I don't know what to tell you.

it doesn't work without lots of volume to support it. So for individual coins, it's typically useless. But for BTC/ETH and high volume periods for other coins, it is effective.

They don't do TA retard. Algorithmic trading is very different than the tea leaf horoscope TA found on this board. Source: I work at a top 5 hedge fund.

It's basically useless for an unregulated market, but sometimes it works if whales use it and put up walls at a support level, resistance level, etc.

I'm not saying the retards drawing lines on charts on Veeky Forums are right. 99% of the charts I've seen are wrong. I'm saying TA as a concept works.