Thank you! The fundamental side of BTC is just as important if not more so than the technical side. But as a technical trader I have been able to -over the years- intergrate the fundamentals into the strategies I use with the understanding that most upcoming fundamentals on any given instrument are usually priced in.
However, what you have found there is extremely interesting! Im wondering if the chart for new accounts moves the BTC price at the same time or if there is a time difference that could give a potential to trade using the new accounts chart. Me personally, I'd need a candle chart of new accounts to technically analyse the fundamentals side. That could be an extremely interesting idea to look into!
Agreed. A combination of both - factoring fundamentals into reinforcing what the chart says can prove to be quite powerful, I think.
I have found that fundamentals can be a hindrance, though. The technical chart patterns tell you all you need to know, because the fundamentals are priced in to the price charts. This is 100% fact with Equities, futures and Forex, but as Crypto's are new, I cant really say this is the same case just yet to be honest. I would imagine so. But with trading in the hands of smaller bedroom investors the way ALT Crypto markets react to fundamentals is quite different to other financial instruments.