Trader Eugene: Sticking to pure technical analysis, choosing to stay put

ChainCatcher message, top trader Eugene Ng Ah Sio posted on his personal channel stating, "The reason I am now sticking to pure technical analysis and no longer using fundamental reasons to justify positions is that everything is constantly changing. Today Bitcoin is correlated with gold, and tomorrow it turns into a leveraged S&P index."

"Of course, you can make an early judgment on which trend will follow in the future, but I think this game is too difficult to play. I cannot invest a large amount of money based solely on the existing bullish perspective. If someone were to hold a gun to my head and force me to make a choice right now, I would neither buy gold nor short the S&P index, so I choose to stand still and maintain a net position hedge. As always, we let price movements guide the direction."