Every moment in the market is unique
In the eyes of us chart analysis enthusiasts, drawing lines is fundamental. In market charts, we might draw the same patterns, but even if they look the same on the surface, they are actually different. The market is made up of different traders, of different people, and charts are formed by human psychological expectations, through order actions, and finally come into being.
The seemingly identical patterns, because the people are different, with different mental states, the actual charts must be different. Always remember, every moment in the market is unique.
Since it is unique, we can have expectations, but do not be obsessed, do not cling to them. The previous three times it bounced off support, but what about this time? Maybe, perhaps it will bounce. We expect a bounce, but we cannot be fixated on the necessity of a bounce. Last time it held support, but this time? Not necessarily, we don't know.
Therefore, technical analysis is sometimes effective and sometimes ineffective. The market is alive because of people; it is dynamic, evolving, and changing. Do not be obsessed, tell yourself that the future can unfold in many ways, anything is possible, there are no certainties, nothing is definite, everything is just a possibility, just probabilities. There is no need to cling to every trade; consider it from a probability perspective, from an order group perspective, from the law of large numbers perspective, that is the mindset of a top trader.
As a seasoned cryptocurrency investor, I, Tu Fei, share my experiences and insights. Interested in the cryptocurrency world but don't know where to start? Follow me and check my profile to achieve freedom in this bull market.