🗣 Cryptocurrency traders ColinTalksCrypto and Peter Brandt emphasize the importance of price charts in making trading decisions. They believe that price fluctuations reflect all other factors and provide a basis for future predictions.
💬 ColinTalksCrypto, who has been trading since 2013, shared insights on what seasoned market participants focus on during transactions. He referenced Peter Brandt's publication, where Brandt stated that when predicting price changes, he does not consider technical indicators, trend lines, Fibonacci levels, government reports, trading volume, and many other factors typically deemed useful for assessing price direction.
Brandt relies solely on price fluctuations and makes decisions based exclusively on them.
⚠️ ColinTalksCrypto agreed with this perspective, asserting that price represents "the collective wisdom of all market participants." In other words, the price of an asset reflects all other indicators, such as cycle parameters and government reports.
📊 The price change chart serves as an aggregator of information filtered through the collective actions and ideas of millions of market participants worldwide. Among them are insiders with undisclosed information, experts analyzing fundamental factors, algorithms identifying trends, and even small traders.