Day 1 - Putting my Trading on Hold
Account Overview
Good morning hive community,
I hope everyone's going well out there. Personally, I've definitely been better, to be honest. Since yesterday I managed to blow up my bybit account, slowly whittling away my capital until all I have left of the 2 USD is 40 cents so I shut the account down until I have some new funds to properly start this challenge. Until then this series will just be focused on my take on the markets as well as anything else I might want to talk about. I will aim to refund my account by the end of the week though. As you can see when I get down to small amounts like this my inner degen comes out and I start trying to make 100x trades as the money is already gone in my head. Since that's the case I need a proper reset if I'm going to get anywhere.
Market Overview
BTC 4H
Pulling the 4h BTC chart up with the MACD, RSI, and Bollinger Bands, we can see that it did end up having that pullback that we were talking about before. It has then continued moving up but we have yet to create a higher high or a higher low. If it does end up retracing to the top BB before moving down then we will have our lower high but if moves up above and then breaks through the 17k resistance we could be looking at a rally up to the next resistance at around 18k.
BTC 1H
Taking a closer look at BTC on the 1H with the fib from last time we can see it came down well below the 0.5 level we were looking at before rallying back up which is partly why my account ended up blowing up. This choppy market meant that my thesis wasn't playing out how I thought, but that is what it is. In future, I should remember to take a step back and reset before jumping into a new trade. We are all learning I guess.
Final Thoughts
As you can see I have a lot less to talk about today seeing as I went bust and have taken a step back from the charts as a result. I'm going to look into how I can drum up a proper bankroll so we properly kick this challenge off. Until then
Please use my Bybit link if you are planning to sign up as it would hugely help with what I'm trying to do here.
