Actually I think with the crypto market you do not need too much technical knowledge such as stock or FX. Currently I find that successful investors in the crypto market have a way of playing the news of the altcoin they invest. If there is good news or big event they will buy and wait for price to sell out. Conversely, bad news is that they will cut their losses soon.
Definitely, news work most of the times if you can know how to find them, but I would not say one should just discard the ability to do some technical analysis as they are applicable not just too FX but to crypto trading as well.
There are so many successful decisions I have been able to make with TA and if it is just to be sticking with news alone, I would never be making that much. Like you said, the most important thing is to know where to step in and where to cut your loss if anything goes wrong.