- Traders ColinTalksCrypto and Peter Brandt advise paying attention to the asset’s price chart.
- Exchange rate fluctuations reflect all other factors and make it possible to make a forecast for the future.
A trader who has been trading cryptocurrencies since 2013, using the pseudonym ColinTalksCrypto, explains what experienced digital asset market participants pay attention to when making trades.
ColinTalksCrypto referred A publication by experienced trader Peter Brandt states that when forecasting asset price movements, he disregards technical indicators, trend lines, Fibonacci levels, government reports, trading volume, and many other factors considered useful in assessing the most likely price direction. Brandt relies solely on price fluctuations and makes decisions based solely on them.
Peter’s colleague agreed with this position, stating that value represents the “collective wisdom of all market participants.” That is, an asset’s price reflects all other indicators, such as cycle parameters and government reports.
The price chart is an aggregation of information distilled through the collective actions and ideas of millions of market participants worldwide. These include insiders with undisclosed information, experts analyzing fundamental factors, trend-detecting algorithms, and even small traders. Their purchases and sales drive the price, wrote ColinTalksCrypto.
In other words, to succeed in cryptocurrency trading, you first need to be able to analyze the price chart of a coin. One example of the results of this work is Brandt’s framework for making trades in the gold market. If you’re interested in how it works, read about it in article Happy Coin News.
XAU trading structure on the chart
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