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All the nothing burgers stock/crypto predictions and guru's who use graphs

Posted on 3/19/24 at 4:53 am
Posted by Saunson69
Member since May 2023
1760 posts
Posted on 3/19/24 at 4:53 am
I see often in reading articles on stocks/crypto where there is nothing being said. For example:

In a repeat of the move, which followed its first new all-time high earlier this month, Bitcoin is rapidly headed toward the $60,000 zone.

This is the critical point on traders’ radars, and one which has not received a convincing retest.

“I think we at least get a sweep of last weeks low,” popular trader George summarized on X.

“If that doesn’t hold I think we see sub 60k again.”

He proceeded to follow it up with "if it goes up, then it goes above $65,000."

That's like saying if the stock is creeping towards $8 on a downtrend and ends up going below $8, then I think we will see sub $8 if that happens.

There's nothing being said. It's like obviously if the stock goes above $10, then that means it's going above $10. I want substance. I want precise predictions with reasons why. I don't want well if it goes up, then it goes up, if it goes down, then it goes down.

Majority of stock/crypto analysis online are just nothing burgers stating exactly that. Don't get me started on the guys who use graphs on stocks thinking they can predict that way by drawing lines and stating Fibonacci levels. I've seen countless, and stocks just do the exact opposite. Bitcoin is way more cyclical so easy to do there, but stocks do not whatsoever behave in ways that are predictable with lines other than news/profits/potential.
This post was edited on 3/19/24 at 4:57 am
Posted by gizmoflak
Member since May 2007
11659 posts
Posted on 3/19/24 at 6:55 am to
TA is an art, not a science
Posted by UltimaParadox
Huntsville
Member since Nov 2008
40832 posts
Posted on 3/19/24 at 8:00 am to
quote:

I want precise predictions with reasons why.


Considering crypto has no fundamentals, the whole thing is hand waving saying number go up because it will. So you will never get any substance from any "crypto analysis" because there cant be any.

Technical analysis guys on stocks are pretty much the same as crypto bros, zero substance. Just like with crypto they fit the charts to fit their theories.

Investing in stocks based on fundamentals is the only thing that can give you any true reasons why, as generally over the long haul the stock will trend to its fair value.
Posted by RATeamWannabe
Baton Rouge
Member since Sep 2009
25943 posts
Posted on 3/19/24 at 8:08 am to
quote:

I want precise predictions with reasons why.


Does this exist in the stock market? Outside of Pelosi and insider trading, you just described investing in general. People try to use tools to make money, some tools work, some people don't use the correct tools as efficiently or effectively as others. Wouldn't we all like a fricking foolproof
'buy here sell here" get rich guide
Posted by I Love Bama
Alabama
Member since Nov 2007
37695 posts
Posted on 3/19/24 at 8:25 am to
TA is bullshite
Posted by FredsGotSlacks
Baton Rouge
Member since Mar 2008
815 posts
Posted on 3/19/24 at 8:50 am to
quote:

I want precise predictions with reasons why.

You’re asking for precise predictions on human behavior. In this age where humans react constantly to the 24 hours news cycle and you have a market that is 24/7 no chartist out there will ever be able to give you an accurate prediction of what Bitcoin is going to do. Most of the new age Twitter/tiktok investors are hoping to make money off the illusion of making money and you’re just helping them by giving them clicks
Posted by Saunson69
Member since May 2023
1760 posts
Posted on 3/19/24 at 6:44 pm to
This couldn't be more incorrect. It is all based around the halving events that is occuring April 20th. I suggest you do a little research before.

Also, BTC is up over 100,000,000% since 2010. There isn't another investment on earth that has returned even 1% of that, and there are still guys like you

Remind me to revisit this Dec 2024. I guarantee you're gonna say why do I continue to doubt it, by then it'll be >300,000,000%
This post was edited on 3/19/24 at 6:47 pm
Posted by Saunson69
Member since May 2023
1760 posts
Posted on 3/19/24 at 6:45 pm to
Yes it exists in many places. Analyst for banks give price predictions for every stock. What I don't like are long articles that say nothing which plagues the internet.
This post was edited on 3/19/24 at 6:46 pm
Posted by UltimaParadox
Huntsville
Member since Nov 2008
40832 posts
Posted on 3/19/24 at 7:35 pm to
quote:

This couldn't be more incorrect. It is all based around the halving events that is occuring April 20th. I suggest you do a little research before.


This guy proves my point about crypto analysis.. Because Bitcoin miner rewards are going to be cut in half that is the utility that drives the price up. There is no use case, no product to sell with income. This is the basis of their analysis.

Not even getting into other crypto securities not named Bitcoin, most where the only use case was to make the initial founders rich through basically MLM schemes for men
This post was edited on 3/19/24 at 7:37 pm
Posted by Hateradedrink
Member since May 2023
1267 posts
Posted on 3/19/24 at 7:43 pm to
This is only true in a vacuum. TA is but one tool.
Posted by Saunson69
Member since May 2023
1760 posts
Posted on 3/20/24 at 3:52 pm to
You don't get it. Who gives a shite whether there's a company and profits behind it? I'm not pretending it does. It makes money and that is all that matters.

Not another investment on earth has returned >100,000,000% in a little over 10 years. No one is pretending that it has profits behind it. The cycle happens every time. If something has happened like clockwork 4 times in a row, that is plenty evidence to show it'll happen again.

Sorry you're angry you missed out and now you hate on it bc everyone else is making money besides you. Who gives a shite whether there's any profits behind the company, that doesn't matter one bit. All that matters is if it increases and is liquid.

I just think people who think that has reach an all time high and never again will it peak above where it is now are so dumb considering it literally is up over 100,000,000% all time and shows no signs of slowing down.
This post was edited on 3/20/24 at 3:56 pm
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