! Not financial advice - This is my trading diary! It helps me think about my ideas.
Dear Reader,
I am slowly returning back from my paternity leave and again looking at the charts. Instead of juggling between changing diapers and scalping, I prefer to solely focus on the first. However, I decided to do some Chart-Therapy and here is what I found out:
BTC has finally Reached the yearly open, where a bounce was more than expected (see my long-term analysis from May 23). How do I see the charts right now, and what do I think will come next? My assumption of a bull trap being developed between 41k-45k is still not yet to be discarded. If this plays out, it would only be history repeating itself. Downside targets (horizontal levels) still in play.
At this point, TA is barely working. The crypto market is mainly driven by news and tweets that seem to come out at the right time to mess up with all analysis; no matter how perfect your prediction is, it can be invalidated by any tweet or, worse, the Crypto Chinarmaggedon. However, if you are a 5-minute Scalper, it is your time to shine.
Dear Reader,
I am slowly returning back from my paternity leave and again looking at the charts. Instead of juggling between changing diapers and scalping, I prefer to solely focus on the first. However, I decided to do some Chart-Therapy and here is what I found out:
BTC has finally Reached the yearly open, where a bounce was more than expected (see my long-term analysis from May 23). How do I see the charts right now, and what do I think will come next? My assumption of a bull trap being developed between 41k-45k is still not yet to be discarded. If this plays out, it would only be history repeating itself. Downside targets (horizontal levels) still in play.
At this point, TA is barely working. The crypto market is mainly driven by news and tweets that seem to come out at the right time to mess up with all analysis; no matter how perfect your prediction is, it can be invalidated by any tweet or, worse, the Crypto Chinarmaggedon. However, if you are a 5-minute Scalper, it is your time to shine.
Comment:
It did hit my target, a little later than expected. It gave us another better short entry.
