So why the heck call it 'Technical Analysis'? When it can simply be called 'Technical Gibberish' or better yet, 'Superficial Analysis'?
Haejin uses EW to predict future prices. It doesn't predict timescales, so his predictions could be a long time in coming to fruition.
It's like saying I can predict with certainty that there will be a powerful earthquake to hit Japan or the world is about to end one day--I just don't know when it will happen but it certainly will. My goat! I say, you stop smoking something while investing in cryptocurrency!
He's not doing justice to the term 'Technical' to the fullest extent of the word. What he does is funny predictions by which even our local church evangelists are capable of. Clue: the Bible is full of stupid predictions.
It's utter nonsense! You make silly predictions today, and then you modify the next day because your initial prediction was so wrong, and the chain of adjustment(s) go on and on throughout infinity all while making a full time living out of doing that shit. Seriously? I tell you something, even my late grandfather was doing the same crap for ages, staring at the numerical angles all day long, albeit not a cryptocurrency chart, but a local lottery probability combinations.
Hey friend thanks for sharing your thoughts but if you don't believe in Technical Analysis why follow a blog which only does Technical Analysis ?
I will meet you half way and agree that since EW does not give a timeline it's effectiveness may be reduced when used alone, since during that time manipulation or event can occur which fundamentally changes the predicted future pattern. This could be especially true in the pump and dump culture of the crypto space which is still in its infancy. The price can jump or dump on the back of a comment from a prominent YouTuber.
Oh and the Bible seems to have done a good job of predicting a One World Totalitarian Government and Currency, which is where we are heading !
I'm sure you are clever enough to understand the point I was making.