Relying on price action will make you crazy on crypto trading since the volatility on crypto tarding is very which fake pump and dump is always common in daily basis so you have a high chance being trapped if you are relying on price action alone.

You can refer the Bitcoin chart on daily time frame, you can notice that it frequently pump and dump with the same level which means if the price grow 1000USDT today then tomorrow will be less 1000USDT to erase previous gain.

Those who ride the pump and fomo buy suffer huge loss if they can’t exit before the price gain was deleted on the next day.