Does technical analysis work in crypto trading?
Does technical analysis work in crypto trading?
For all my 5 months in trading, I’m learning only technical analysis but now everyone is talking about the concept of “Smart Money”. So I think that trading is changing and speculators should stop trading based on technical analysis. Or smart money just a concept that cannot possibly work in the market,
Smart money refers to the capital that institutional investors, central banks, and other professionals or financial institutions control. It is managed by expert investors who can foresee market trends and make most of the profits. So it means that smart money traders trying to trade together with market-maker. Also they think that technical analysis is not working because it’s very old.
Technical analysis can be used to trade, although it is not 100% accurate. I can even say that technical analysis is not 60 to 70% accurate. You need strategies to make sure that you do not have loss in trading than profit. Your analysis can not always be correct.
I will like to ask. What is smart money? I do not think this is related to trading