I have not been in the crypto space for not too long but I have come to the conclusion that the news is more influential in the trend of the market than the technical indicators, guys what do you think?
You are very right and completely agree with you, any body can have a different opinion or perspective to this, but for me, the news is what determines price movements of the coin.
A very clear example which I believe no body will argue with is, what happens when developers announces listing their coin on a major cex, for example, binance, kucoin, coinbase?
The coin price explodes, with investors jumping over one another to invest in the coin, this is something or should I say I price increase that a technical indicator can never show any one, no matter how good the person is, except the person have an insider information of what is about to happen in terms of the coming news.
News is significant but we know that it isnt something that we could really just simply rely into it because this market cant really be having that news every now and then on which you could really rely on.
If ever there's no news in the market, how you would be able to deal up with the current market pricing? How you would be able to determine your entry? There's no way that you would just simply
still and sit down and wait up for some news or fundamentals just because you are really just relying on it, this is where technical analysis would set in, it might not really be giving out that
precise approach or prediction but in overall it is really just the same with Fundamentals too.
This market is never been that predictable on which means that no matter which one of the two you would really be using, it wont really be giving out that 100% assurance when it comes to positive results or outcomes.