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RE: Bitcoin (BTC) Morning Update: Seller Genocide
Good general assessment, but I don't see much actionable information. I know that technical analysis is a tricky and tough game, but I think that sticking your neck out is also a part of that game. Buy or sell, at what level, and what's our profit target. Stop losses? Yeah, sometimes you'll be wrong but it's a part of the game. Interesting concept that "seller genocide", I'll have to remember that.
Thought about it for a while and I don't agree with You @sauna. There are plenty of analysts out there who give precise signals, with stop losses etc. Haejin, from my perspective, was never about it. Since the day I started watching his content, he was mostly about "Here's my point of view, but please read my tutorials, buy two books I recommend, learn basics yourself, start charting and try to make decisions based on Your own predictions". I find this approach much better for community in the long run.
I am one of those who learned a lot myself thanks to Haejin. Now, I'm using his analysis just as a resource, another point of view, something that can widen my perspective.
What I'm trying to say is that precise buy/sell signals make people lazy. Sure, there are experienced traders who'll use them to augment their own analysis, but I'm quite sure that population of total newbies that'll just blindly follow a signal, without understanding a thing about TA, is MUCH bigger.
I suppose you're right. My perspective is vastly different from most people's, I sometimes forget that. I've been at this a long time.