1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:

S

Sbp

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Koichos said:
Were you utilizing EMAs, RSIs, vector candles, support and resistance? Stop losses? What was your strategy/confirmation for entering and exiting a position? Did you start trading on spot, first? If you don’t learn how to properly trade support and resistance on spot you will inevitably end up shorting the bottom and longing the top on leverage.

The following strategy is beginner friendly, however only the first of these is really applicable to spot trading. Technically, a 1x short is not leverage but still not for beginners.

5 EMA crosses above 13 EMA (bullish potential), 13 EMA crosses above 50 EMA (bullish confirmation) = long
—Once you have opened the position and the 5 crosses back below the 13, you may or may not want to take some profit; once the 13 crosses below the 50, close the position

5 EMA crosses below 13 EMA (bearish potential), 13 EMA crosses below 50 EMA (bearish confirmation) = short
—Once you have opened the position and the 5 crosses back above the 13, you may or may not want to take some profit; once the 13 crosses above the 50, close the position
  • The 5 will always cross the 13 before the 13 crosses the 50 - the former signals the beginning of what could be a bullish or bearish trend while the latter confirms it.
  • Wait for 1 candle of confirmation (for the candle to close after the EMAs have crossed, to prevent reversal of trend fakeouts) before opening or closing the position.
  • Works on any time frame, but good entries will be missed on the longer ones. The 1 and 3-minute, too many fakeouts; 5-minute is the sweet spot but 15 is good too.
Click to expand...
Support and resistance and i use the rsi
 
In The Zone '98

In The Zone '98

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Koichos

Koichos

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There is some important inflation data (Core CPI and CPI) being released today at 8:30am EST. If the numbers come in lower than expected, we attempt all-time highs. But if the numbers come in hot then yesterday’s high of $122,450 may well have been the summer (not cycle!) top. High inflation numbers are also bad for rate cuts, so there’s that..
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