I am not a big fan of technical analysis and the related mumbo-jumbo.
IOTA: things to consider when investing in crypto
Roman Semko

I agree that technical analysis is worthless for analyzing cryptocurrencies because the market makers are unknown, because traders are unknown, because there’s no central bank to support the value of the currency, there is no financial news to move the price of the stock… There’s no rhyme of reason why we have 10–20% swings in Bitcoin and other popular cryptos, so technical analysis is not going to help you much even though that’s all you see on Twitter from hopeful traders.

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