Can analysis predict both rises and falls? Or do analytical tools only predict rises? In other words, why didn't most analysts who were certain of a rise for Bitcoin predict the crash from its peak of $126,000?

Answer: Technical analysis (on charts) is not a crystal ball that reveals the future, but rather a science built on probabilities and scenarios. They say that probabilities that have happened before might happen again now.

Regarding predicting rises and falls, there's something called "confirmation bias." This means that analysts are psychologically inclined towards a rise because society loves positive news and posts. For example, "The time for the great rise has come..." "The bull market has begun..." "The decline is over, and now the upward explosions will begin..." "Bitcoin is headed to $250,000 tomorrow at 9:00 PM Flat Earth Time," and so on with other fantastical positive predictions.

This human bias leads analysts (most, but not all) to ignore clear downward signals (on the ground) and cling only to the scribbles on the charts.

Regarding Bitcoin reaching a peak of $126,000, the prevailing excessive optimism within the community (led by analysts) at this stage is causing them to ignore realistic indicators that warn of a potential downturn or impending danger.

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