Trader Eugene: Sticking to Pure Technical Analysis, Choosing to Stand Pat

Odaily reported that trader Eugene Ng Ah Sio stated on his personal channel, "The reason I insist on pure technical analysis now and no longer use fundamental reasons to support my positions is because everything is constantly changing. Today, Bitcoin's trend is linked to gold, and tomorrow it becomes like a leveraged S&P index."

"Of course, you can predict in advance which trend it will follow in the future, but I think this game is too hard to play. I cannot invest a large amount of money based solely on my current bullish perspective. If a gun were pointed at my head forcing me to make a choice now, I wouldn't buy gold or short the S&P index, so I choose to remain on the sidelines, maintaining a net hedged position as usual. We let the price action guide our direction."