The last few days there has been some massive price fluctuations in bitcoin and the cryptocurrency market in general. One of the founders of Ripple lost 44 billion dollars. Btc went from a high of 20,000 USD a few weeks ago to under 10,000 USD. and ether fluctuated between 700 and 1200. A lot of the discussion around the price action in crypto is in the Language of Technical Analysis. Technical Analysis is analysis of charts, on the end of day price, start of day price.
In many ways technical analysis is like a personality test, geomancy, and the tarot. The 100 day moving average, the falling hammer, these are like the Tarot chariot, or the geomantic Puer. TA is a a form of augury. But even these days augury, personality tests, and the like can reveal something and provide a framework for action. Many people use technical analysis, so it is in some respects a fulfilling prophecy. What the relationship between the symbols of the charts and the price of bitcoin is anyone’s guess. I have never been one for TA, but maybe I just dont have the metaphysical framework for that yet.