You are watching a very unique Bitcoin technical analysis.
It use Fibonacci ratios + support/resistance to find the best zones to enter and exit the market.
Here's what to know when looking at the charts:
- Green and red rectangles are BUY and SELL area. These are the areas where the momentum has shifted enough to give us upside/downside potential great enough to consider buying or selling Bitcoin.
The software I use is Metatrader 4 (MT4)
The pricing feed is made by averaging prices at all the most popular crypto markets.
Tips for beginning traders:
- Trading is hard. 90% of traders never manage to be consistantly profitable.
- Greed is your enemy.
- A good trader is a good risk manager.
- Use Stop Loss and dont move them in the middle of a trade.
- The more leverage you use, the more certain you will fail.
- If you cant sleep at night, your positions are too big.
- You need to manage your emotions. Try meditation.
- You dont need to have positions open at all time.
- An average of 1% profit per week compounded will make you filthy rich.
- A good strategy is not the most important part of your success. Discipline is.
- Repeat this mantra: “I am a very good trader”
