The Profitable Week: Riding the Bitcoin Wave

This week was more profitable than finding a $20 bill in your jeans pocket! Thanks to catching Bitcoin’s (BTC) thrilling rise from a local bottom, I managed to shut the door on most of my altcoin trades, some at tight stops, while others landed me some decent profits. Could there be a more joyous occasion, besides finding out your favorite childhood cartoon is back on the air? Perhaps. But let’s stay focused on that sweet crypto cash!

Lessons Learned: The Art of Timing

While I’m thrilled with the week’s outcome, I can’t help but kick myself for failing to capitalise on certain alt trades when I had the golden opportunity. Instead of celebrating a fiesta, I ended up with what felt like a half-eaten burrito—slightly disappointing. I did manage to open new positions in FunFair (FUN) and EtherParty (FUEL), while also nabbing a 12% gain on my IOST (IOST) positions. Who’s the genius now, huh?

Bitcoin Moves: Strategies and Stops

So, what’s the scoop on Bitcoin? Back when we were hovering around that $7,100 mark (remember my previous journal?), I went long on Bitcoin. When it spiked, I raised my stop-loss, and lo and behold, it hit at $7,060. I was grinning like a Cheshire cat because as the price tanked into the mid-$6,000s, stopping out at a small loss felt like a masterstroke. Aiming for $6,500, I pounced back in with an average entry of $6,550. A gamble? Maybe. A smart bet? You bet!

Chart Talk: Divergences and Patterns

Now let’s talk about the charts, shall we? I spotted bullish divergences all over those time frames below the weekly, oversold conditions on the Relative Strength Index (RSI), and potential Swing Failure Patterns (SFP) below previous swing lows. Basically, traders needing to fill bids like kiddo’s needing candy discovered a feast beneath those lines. Sounds like a classic “stop hunt,” folks!

Exit Strategies: Cashing in on Gains

So how did my foresight pan out? Bitcoin bounced like a rubber ball, hitting just over $7,400 on most exchanges, and I successfully cashed out most of my position at $7,250 for a cozy 10.6% gain. I’ve set my stops below a certain green zone, ready to adjust them as the price climbs. This downtrend turned long opportunity could be another great win, but who knows? In crypto, anything can happen faster than a cat can blink!

Fun in FunFair and EtherParty

Speaking of fun, I grabbed another position in FunFair (FUN) at 0.00000044 (sats). If you love patterns like I do, this setup is a gem with a nice ascending channel. My stop-loss is set below the blue channel, making it easy to adjust as the price rises.

EtherParty (FUEL) saw me taking another stab after being stopped out last week. I entered at 0.00000038 (sats), and with my stop-loss set at 0.00000034 (sats), this trade seems almost laughably straightforward. My first target is to hit 0.00000063 (sats)—let’s see if I can turn this into a joyous little cash cow!