As a pure Technical Analyst, I truly believe in this statement:
News or Events shall arrive to justify the forecast, never the reverse.
This means that fundamentals are further downstream than price action. Both are reflections of sentiment, but price action is more upstream. This is why I truly believe that news or events or fundamentals don't drive price action, it's the other way around.
Many vehemently disagree with this, as I did too. But, after experiencing, time and again, forecasts that seemed outrageous and yet news/events arrived to justify it execution.
Here is link on my essay on Technical Analysis:
https://steemit.com/bitcoin/@haejin/essay-what-is-technical-analysis
here to have a quick look on what i have been doing. This is 25 years ago and the source code of my program is totally lost and that is very, very painful as i would love to let my program run on crypto historics.I hear you @haejin and i know very well what you are saying, any pre-public-knowledge action is reflected in price- and volume-movements. Click
The crypto space is clearly different than normal shares and the fundamental aspect is in this stage also less important but i personally do take it into account as a first selection criteria. I will have 20-30 crypto's i believe in and then use technical analysis to step it. I stepped in EOS and BitShares 2-3 weeks ago after watching them for almost a year for example. KABOOM KABOOM as you would say :-) but i did e.g. same for Steem a few months ago and still waiting for the KABOOM KABOOM :-) so no guarantee.
I have lots of respect for the technical instruments you are using and that's why i am following your findings with interest. Many of the crypto's you come up with are totally unknown to me and i end up again and again looking into the project. Let me just say i would be really happy with 1 extra paragraph in the style '... is moving in the ... space, launched ... ago, website ...'
Oops, this became a bit long, much love @haejin and keep going, i think you are doing a 1000% better technical analysis job than many idiots around here who would decide on a bloody worthless moving average, take care...
I personally don't look into any fundamentals or function of the coin. It matters none to me. If I were on an island alone and only received hourly/dailuy price feeds, my projections and forecasts would be the same.
Fundamentals have no bearing on technical analysis. It has lots of bearing on human sentiment and for that many want to know more about what they buy from an informative perspective.
For cryptos and equities, I only use Technical Analysis.