the stupid thing about trend analysis is that if everyone follows a prompt such as 'sell because there will be a drop' guess what.. a drop wiil occur because of the sell.

its not predicting, its causing.

so when a mass of people program their bots to just follow the lead. its not based on predicting. its based on causing the result of a prompt
basically its a form of pump and dump where one prompter makes people react to cause thee action the prompter wants.

the bad thing about it is by the time people react the prompter has already reacted way way before thus he makes the maximum gains and the reactors and causers are left at the loss as they are the last to the pump and dump game

trend analysis predicts nothing.
trend analysis just turns people into pump an dump sheep causing people to repeat history over and over

dont treat trend analysis as technical . and stop even describing trend analysis of historic price as 'technical'

if you want to do proper technical analysis find things outside of the historic price. that way you can be first to set new trends rather than just repeat history and be last to react

remember once you hear someone prompting a action, your the last to hear.
dont be a sheep, become a shepherd
use real technical stuff thats not just price history

Technical analysis based on market trends, yeah you can call it trend analysis.
However, TAs always different depends on who made it up, since bitcoin tends to repeat the cycle happened before, the history may repeat over again.
It does affect people's decision, but we have the bigger picture here, bitcoin will rise towards halving and every dip is a chance to buy more.

Basically traders use bitcoin technical analysis (TA) to get high profits with bitcoin, but for me personally it is not very useful to use TA because I think to predict future bitcoin prices is certainly very difficult even though TA shows direction to its users, maybe only some traders can control the market price with that system. maybe we are better off balancing technical and fundamental analysis in bitcoin trading so as not to lose.

Charts do help at some point. It makes you more confident about your investment short term but of course it all depends how you will use your coins. For long term, charts does become more redundant because of how Bitcoin moves and how volatile it is. Charts cannot tell the up coming news, hypes, or any kind of factors that would affect Bitcoin. It does help, but I still wouldn't fully trust those charts, especially those in the internet.

Chart can be a good basis if you do understand the market fluctuations, when you are willing to take the risk and you have the nerve to follow
your instinct. Understanding the situations and how the hype brings movements once news being broadcast though is unpredictable by any charts
since the behavior of the market always depends on how traders and investors react either pump or dump trend.

This question is actually asked in many different assets that are tradable, whether its stocks, bonds, commodities, metals, indices, etc. And the answer is always the same.

Technical analysis is not a very good indicator of predicting price movement but it's the one with most success either way because it's what everybody uses these days. Most can't trade with fundamentals unless they got some insider scoop or are taking long term positions.

But with technical analysis everybody uses the same tools and indicators so you can tell where there might be a reaction since most people are looking at the same thing. Like when $6000 broke last year, everybody went short because it was important resistance.

Then there are times when you can be the smart trader and go against the too technical traders and trap them. This happens with Bitcoin a lot and it's usually those SFP trades which seem to have a lot of traps especially on the daily charts.

So it's not a useful tool to use but it's also the best of the worst out there. You just need to find a way to make profit off it.

More often than not it is better to use fundamentals rather than technical analysis. Technical analysts are like fortune-tellers, they often go wrong. Or they are always right because they are always vague. They do not tell you exactly what will happen really. They will just tell you all the possibilities that there is no way for them to go wrong.

I don't follow BTC technical analysis and charts, they don't make any sense in crypto world. BTC has its own mood of going up and down which no TA and and chart can predict. I never do day trading thats also one reason of not following TA and charts.

I sometimes do, for fun. It's exciting to see what other people see in their crystal balls.
The thing with TA is that before it happens TA can be reshaped to show what you want it to show and once it happens it can be shaped to prove that you were right.
I also like TA because when you see the majority waiting for something to happen it doesn't happen. Like when we were falling below 500 USD people were saying it's the end of Bitcoin and that we're going to 0 now, but we didn't, just like last year people were saying we're going back to 1k and we didn't.
You can quote me on it, but I believe we're never going to see sub 1k again. This is all the TA that I need.