According to ChainCatcher, top trader Eugene Ng Ah Sio posted on his personal channel, "One reason I now insist on pure technical analysis without using fundamental reasons to support my positions is that everything is constantly changing. Today Bitcoin's trend is linked to gold, and tomorrow it becomes a leveraged S&P index."
"Of course, you can predict in advance which trend will be followed in the future, but I think this game is too difficult to play. I cannot invest a large amount of money based solely on existing bullish views. If a gun were pointed at my head and I was forced to make a choice, I would not buy gold, nor would I short the S&P index, so I choose to stay put and maintain a net hedged position. As always, we let price trends guide the direction."
