That is how I was able to predict the bounce up to 12K and the subsequent sell off but sure. Just because you don't know how to use it, that doesn't mean it is useless...
MAJOR DIFFERENCE BETWEEN INVESTOR AND TRADER. The problem with some investors is that they can only BUY first, SELL later. They cannot change the sequence to SELL first buy later. During uptrend, they buy first sell later. Because their mind is dead fixed (must buy first sell later no matter what) and not flexible, they also have buy first sell later mentality during downtrend. For traders, your mind is tuned to buy first sell later, OR sell first buy later. As such your mind has to be agile and you need to know how to read trend from the chart. Your mind has been sharppened to distinguish between uptrend, downtrend, or trendless. Some investors mentality : now price is dirt cheap. Let me buy more. Traders mentality : it is cheap. It will get cheaper.
It was trading at $6400 when I posted that.... I predicted it would bottom at $5700 before going back up. It did exactly that.
because human beings are generally too stupid and too slow to realize the truth, it is generally safer to bet on trend continuation than on reversal.
Interesting read starting on page 21 on how Russian spies used BTC to aid in their activities. https://d3i6fh83elv35t.cloudfront.net/static/2018/07/Muellerindictment.pdf