$BTC/USD Moon Trading & Technical AnalysisBlessing Moon Trading family, may you are in peace and having a great day full of profits and love! I am here as usual to help you to understand the dynamics behind Moon Trading strategy and to check how our entries are doing so far since the Full Moon.
Entry: $40.600
SL: (usually) Trailing Stop of 5% (but this time I am not using)
TP: considering the historical data that I shared in the last idea, it could easily be $57.800
Even after the fall all the currencies had with Evergrande's news, we are still a nicely almost %6 up. But, if you were using Trailing Stop of %5 and your SL wasn't triggered, you could have taken profits of %11 with the peak of the previous days around the Full Moon. If you were trading with leverage, multiply that for the number you were using. That easy is to be profitable with Moon Trading, without taking unncesary risks with your investment and always taking smart and carefully thought entries.
How can I take a careful and smart entry using Moon Trading strategy? Well, if you see in this chart, the RSI was giving a buy signal in the daily chart. Every single time around the Full Moon day that I see this buy signal, always the price just keeps going up, even if there are some strong catalysts to bring the price down, as it happened the last couple of days with Evergrande in China.
Should I only base my entries on RSI and the day of the Full Moon to open long positions? Well, I like also to use MACD, the historical data of the same Full Moon the last years, what is the expected performance of the price according to this, and also to keep a close eye on DXY and S&P 500 which give together a powerful information.
Whenever you see the price of the American Dollar going down, you will see cryptocurrencies in general but Bitcoin in particular going up. If the stock market is still opened, it will impact even more, because whatever happens to S&P 500 usually affects in a great manner to cryptocurrencies. This could be due to the players that are present in both markets: hedge funds, institutional traders and many other reasons, such as algorithmic trading and goverments trying to manipulate the market, whales closing massive positions to take profits before they need to break even due to a high volatily in the market, etcetera.
Once you see the RSI + MACD + daily volume giving you a buy signal, and the S&P 500 in a bullish trend, together with the DXY in a bearish trend, that is a great great time to take an entry. Also I consider personally that is very wise to keep an eye on the news around the macroeconomy and crypto related topics, which together usually operate as powerful catalysts for the prices.
Did you take this entry? If not, according to all what was mentioned before, you are still in a great moment, just remember to do your own diligent and conscious research.
This is not financial advice but for educational purposes only.
May you have an extremely profitable 2 weeks between the Full and the New Moon the 6th of October.
PS: remember that we have a Moon Trading channel (@MoonTradingTA) where I share a lot of news, tips, analysis and more, join us!
