Yesterday I said that BTC was doing pretty Bullish as it bounced off the point of break but after I posted that article, HOT DAMN, it went crashing back to the support's area of value. Just because of this action. I'm back to thinking BTC is bearish. With this in mind, it's the best opportunity to cultivate your mindset.

Because of BTC's move, my tendency was to focus on shorting today but I did see a potential bounce with WAVES, so this was where I went long. I once again reached 2.5x of my daily quota so I stopped trading earlier in the day. This was honestly luck as I just so happened to enter right before a quick pump. As always, anything I mention here is not financial advice but my thoughts and my plans on the tokens discussed.

Let's get started shall we!

BTC Decision Almost Here (Bearish Leaning)!

As seen in the earlier chart, we're currently back in the support's area of value. If this breaks we can definitely expect a movement below 44k. I was wrong in yesterday's article about a solid bounce.

My Trades Today

WAVES

After a huge run up, we're not trying to find a base once again. It seems to be trying to break this but because of all the rejections, to climb back up, it seems that this is not the bottom. I've been going LONG on this the whole morning, but all the breakouts kept getting denied.

LUNA

Yesterday I expected this to crash, but it didn't. It went as low as 112 area but of course I was sleeping and no TP was set. It ended up hitting my trail stop, then crashed, which of course sucked! I actually expected the current move to go to ATH again so I was on the sideline waiting for an opportunity to short. As I write this article, hot dang look at that red candle. This forced me to just sit back and wait.

Cultivate your Mindset

As always, the most important thing is risk management in futures. Some times taking small profits is better in an uncertain market and that has proven to be the best thing for me in the past few days. I would always trade towards my bias, but enter when it goes against. If it fails to break a certain resistance. If it's successful, sell on the rally and find a new reentry later on.

Money for the Patient

I remember reading a quote that wealth is merely an exchange of money from the impatient to the patient. This has really changed my mindset as I no longer rush to enter for quick trades when the direction is 50-50. I now look for proper entries at all times and if I get left behind, that's just how it is. Move on for tomorrow is another day.

Plan for Tomorrow?

Depending how BTC behaves in the current area of value, we might see a big pull back in a lot of the different coins, This is great as my bias will be to short, and I hope to get some of the coins at a cheaper rate on spot as well.

Credits

• Charts taken from Tradingview.com.
• Pictures made using Canva.com