Technical Analysis is very much used in trying to predict the fluctuations that can happen in the Crypto market. I have found it amazing the amount of different tactics and analysis that can be used for this purpose, they depend of course on the price history of a coin or token and the expectations that the public is feeling. Of course giving the impression of a scientifically sound theory that actually helps you make the right decision.
But when I look at the analysis many people make I read things like, if Bitcoin goes below its $50,000 support we might be moving into a bear market but if it goes above its resistance level of $60,000 we might be going into a bull market. I mean that is telling me nothing, of course if the price goes down and stays down it will be a bear and if it goes up and stays up its a bull. What I need is someone to tell me at what price I should buy and at what price I should sell and which coin I should be doing this with.
As it stands, Technical Analysis is somewhat akin to astrology, it all depends on the stars in astrology and it all depends if it goes up or down in TA, better said this gives me absolutely no edge,
And I can prove this, show me a TA analyst who has grown rich with this, the chances of this are similar to you marrying a Leo because the stars say so.