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RE: STEEM Breakout Imminent?
As crypto market matures, a lot of it would be subject to automated trading and algorithms. As it is right now, it's still a very news-sensitive market and very easy to manipulate (for various reasons). But I do weigh in a certain TA factor to the price movement. Not as much as it is in FOREX or stocks, but a certain part of the trends can be sketched with TA.
I'm not saying TA is the answer, I'm saying TA can successfully supplement other indicators (like news, team development information, etc).
I've definitely seen the 'pump and dump' manipulation happen a few times now (I'm pretty new to the scene), so I definitely believe that things are very news sensitive.
Good clarification -- and I think the term supplement is something that more people should pay attention to -- so thanks for that. There's a lot of TA charts on here that don't have anything attached with them. It's nice to see someone that has done their homework.
Speaking of homework -- I suppose I should learn a little bit about the theory behind TA before I dismiss it too much, because quite a few people do claim that it has validity.