Dear friends,
after having read the main TA for many days, I would like to share some of my opinions with you in order to build a strategy plan for the long term Bitcoin trading approach.
Here you can see a comparison between the long term Bitcoin candlestick and an "Activity Factor Oscillator" that I wrote to evaluate the interest in bitcoins over time (I will publish it in future). The oscillitor take into account the day - price variation with an 26 days ema.
As you can see from the bottom we had in february, the one due to the fear caused by the collapse of the bitcoin, this activity factor is continuosly going down.
We know price can increase only if the amount of people buying an asset is greater than the one that is offering the same asset. Now, taking into account that the activity on Bitcoin is still dramatically going down, do you think price could go up ?
Unfortunately I have a pessimistic opinion on the growth of bitcoin, but please do not be scared and keep on trading on BTC!!
This is only an opinion, please consider not a suggestion for your purchases.