Opinion: Technical analysis was controversial before crypto trading existed– are there now more sophisticated blockchain analytics? Learn more as part of CoinDesk TradingWeek, sponsored by CMEGroup.
Technical analysis was controversial before crypto trading existed.
During the 2021 crypto bull run there was a technical analysis craze. Crypto trading circles were full of price charts with lines scrawled over them tracking Fibonacci retracement resistance levels, flags, pennants, cups, triangles and other augurious shapes. Manually making sense of raw blockchain data is practically impossible. The data needs to be processed and analyzed to be made useful. That’s what sophisticated blockchain analytics tools are doing.
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