Technical Analysis for Investing… Yay or Nay?

“I realized that technical analysis didn’t work when I turned the chart upside down and didn’t get a different answer.” — Warren Buffett.

I don’t always agree with Warren Buffett (especially his speech on how he thinks Bitcoin is “worthless”), but I have to agree on this one.

No offense to you all who are firm believers in technical analysis, but after thousands and thousands of hours I personally have spent on studying and applying technical analysis in investments when I was younger, I must say that, to me, technical analysis is no different than astrology and fortune telling.

Okay, first thing first, for those of you who don’t know much about technical analysis, here are a few basics to understand how it works.

TA Predict the future by…

Technical analysis is a way to value stocks or cryptos by analyzing the patterns, price activity, and data from the past to determine how future trends are going to be. To put it simply, it looks at the past to predict the future.

It determines future trends by applying a variety of tools that track data like price and volume. Let’s say the price of a stock or crypto is rising, but the volume is decreasing, the trend could be breaking, and it indicates it might be the time to sell. The…