Bitcoin Landscape - Week 2 / May

Hey there,

I gotta apologize because I've been a bit behind on my monthly analysis of this dude. Life has been crazy. 😅 But no need to stress, we still have time to take a look and figure out some key points to work on.

Let's recap.

In my last month's post, after a quick analysis, I marked those prices (in red) for my entries.

_{Link to the comment}

Translation

Let's see if my analysis at the end of the month was accurate. And if I was able to do my trades, and how I did them. This is an activity I am passionate about. Analysing charts.

And that's how things went down.

_{Daily chart}

Yeap!

I managed to enter my first price target and even got several trades in that area. I can show that move on a shorter timeframe chart so it can be seen better.

But let's look at some really cute little details that happened before the price dropped to 56542.58 USD. 🤓

If you carefully look at the first graph I shared (scroll to the beginning of the post), you can see how there was a price increase towards the price marked at the 88% Fibonacci.

Compare that chart with this one 👇

That measurement tool you see there. It's interesting to see because notice that this level hadn't been touched before. It seems like this dude doesn't like unfinished business. Right?

It's something you always have to keep in mind in any analysis. Generally, all levels are reached, but everything has its time and process. Just like life itself.

I particularly like to analyze in these timeframes (4 hours and 1 day), however, I must wait for the result patiently. Movements don't happen overnight. Or, let's say, sometimes they do, but before my forecast comes true, many factors have to align. I repeat, it's like life. That's why I love trading.

vamos al lío (let's get down to business)

I've marked operational ranges on the chart, as I mentioned in that post, that I would only do this type of trades. The first one entering the balance zone or 0% Fibonacci and the second one at the first price marked in red.

You can see that each trade had a pretty profitable range. In my case, trading at 3X leverage in perpetual futures, well, nothing to worry about. And sticking to my not-so-ambitious plan, again, I repeat, nothing to worry about. Profit secured.

That's why in the previous post, I insisted so much on the question of whether you have a trading plan. (Did I do it?... mmmm... I think I did) Because I see that this is the main reason for losses in this activity, the lack of a plan. And also greed. Sir, or Madam!, the market isn't going anywhere. So let's say you enter trades after analysis, then you don't know when to exit, and the price completely reverses. 😳

If you're watching the movement pattern that BTC is having... let's see!

Is this still possible, right?

And all the more so because the trading volume.... 😁 is a meadow! Let's see!

Doesn't this seem suspicious to you?

So basically I will continue to enter into purchases at those levels marked in red. Sticking to my trading plan efficiently and being happy.

😅

Tips of the day (because I'm in that mood)

Don't be attached to the money you spend on trading.
Risk only 1-3% of your total capital on each trade.
Use low leverage (less than 5X if possible).
Set a secure - achievable % profit or exit from your trade, and beware of greed.

Here are my trades for April and so far in May. My BingX account is only 40 USD, but I treat it as if it were 40K. 😁

🤷🏻‍♀️