$BTC
Slow markets, somewhat expected with current geo-pol tensions until something further gives.
Local FRVP poc at 103.9 has been a key area throughout June acting as support.
Which is also confluent with my weekly composite profile where again 104 is key - any acceptance below then we probs trade the lows into 98s where there is a cluster of single prints.
Have a fab day all...
Livestream Crypto Review - Mon 3rd June 9PM BST
Covering the usual market outlook & once again trade setups for the week ahead.
Link Below 👇 RT's appreciated.
https://t.co/IcTLBCHpyZ
A very deep question.
I'll try my best to simplify my personal process:
1. The ideal portfolio makeup is planned and mapped out in advance to give me focus.
2. Acknowledgement of the current conditions are taken into account (am I positioning in a strong uptrend or a downtrend)
3. I begin positioning based on TA firstly, with a solid mix of psychology.
4. Depending on the confluent factors for my TA I begin to scale in. Depending on point 2, I have to determine what % of my bags I'm building with each buy.
5. I monitor my chosen positions and conduct buys depending on how the market continues to move.
6. I look back to point 1 and determine if I need to change anything, is there a new narrative, a new hot market, or somewhere I'm missing exposure.
7. I repeat steps 2-5.
It's:
- Narrow down the watchlist so I'm not spread too thin
- Use TA/Psychology to build position
- Wait for profit
- Check thinking/theory and determine if I need to reallocate
- Repeat
Keeping all futures trades very short term - H1 - H4
Current Alts
I continue to hold a significant portion of alt spot holdings, having taken partial profits on several over the past few weeks. I've also considered the potential for further declines and am prepared to hedge with shorts if needed.
Bitcoin L2's
I feel I haven't allocated enough to one sector: Bitcoin L2's - specifically BRC-20s. I'm leaning towards this sector heating up as we head into summer, and I'm considering building positions in it.
Adding To Other Alt Positions
Leaning towards continous chop on most alts, with each significant rally likely met with joy but may prove difficult to find continuous momentum over the next several weeks.
Here, my preference is to trade these plays via futures versus outright spot for the next several weeks - but keeping in mind about adding to positions if it makes sense.
Peace
Start trading now.
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@genopets so today my fitbit tracked 9800 steps, google Fit on my phone says i got 9870 today, but Geno pets is only recognizing 2200 steps - how is this possible?
I only use one google account and already followed the steps to uninstall and reinstall Gnopets app...
As always, thanks once again for tuning in, kindly appreciated.
Covered trade plans/scenarios on bitcoin and as requested why/how I executed the 2 trades taken on bitcoin this week.
Stay blessed and have fab Friday
Thanks once again for tuning in folks - kindly appreciated.
Hope you found it educational.
Coverage of trade execution and management from a price action perspective with reference to the recent bitcoin trade setup I shared.
Have a fab week ahead... Stay blessed
XO
Stream tonight.
20:15 BST.
ACTION PACKED.
All the charts, all the education and hopefully some insight into direction going into a news heavy week ahead.
https://t.co/icQBptjiUW
Weekly Market Review - Mon 18th Sept - 9PM UTC
Covering the usual outlook for the week ahead:
#bitcoin#indices#dollar#bonds#macro
In partnership with @PrimeXBT
Link below:
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$1000 funded account giveaway!
Let's do it again! PrimeXBT and I are going to fund your account with $1000 to trade with (only profits can be withdrawn).
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