TA provides you with very important statistics about the past of the market. Projecting it onto future is fundamentally wrong. It is like predicting an outcome of dice throw based on past results. You need to have fundamental data in addition to past statistics to predict a future market.
Nonsense!
In trading, there are only 2 outcomes to price movement from the current price rather than 6 or 12 like with dice... Right there odds are more in our favor. Then we have other data like volume. This tells us where more force is being applied, up or down, plus a multitude of other methods for trying to determine what direction comes next. They aren't even close to the same thing.
I use fundamentals to say that as long as Bitcoin doesn't die, the far future should go way up, and that is it. The fundamentals don't mean shit in a mostly speculative market. $2->$1200->150 in 2.5 years is a clear example that fundamentals aren't at play here. One more example would be the numerous large-scale businesses that began accepting Bitcoin over the last year, and only sparked pump and dumps.
Note, this is not a dig at the fundamentals, only that they aren't currently important for the price discovery or used by anyone but bag holders (forced or otherwise) or long term investors (who fall into "otherwise").
