Blind Bitcoin Bias Gives Crypto Technical Analysis a Bad Rap

If you’ve spent any time browsing crypto Twitter, or any of the Bitcoin or crypto-focused communities on Reddit, there’s no doubt you’ve come across investors challenging traders sharing charts filled with trendlines, saying that “technical analysis doesn’t work.”

While technical analysis does not guarantee success, it can certainly increase the probability of it. However, any bias – something that is ever-present throughout the crypto market – must be removed to accurately get a read on the market. Let’s take a look at how bias can interfere with technical analysis, and why many believe the practice doesn’t work at all.

Crypto Technical Analysis Isn’t About Perfection, It’s About Probabilities

Bitcoin price has exploded out from its recent low trading range between $6,400 and $7,400 and made its way toward a local high of $8,900.

The leading cryptocurrency by market cap has since been consolidating and before the day is over is likely to choose the direction…