Day Trading and Investing Journal.

The importance of keeping a crypto trading and investing journal

Cryptocurrency trading and investing can be a complex and risky undertaking, especially for beginners. With so many different factors to consider, such as market volatility, technical analysis, and fundamental analysis, it can be difficult to keep track of everything. That’s where a crypto trading and investing journal comes in.

A crypto trading and investing journal is a record of all your crypto trading and investing activities. It should include information such as the date and time of each trade, the cryptocurrency traded, the entry and exit prices, the amount traded, the fees paid, and the reason for the trade.

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Bitcoin Technical Analysis

Technical analysis of Bitcoin as of May 26, 2023:

Price:

Bitcoin is currently trading at $26,500. This is a significant drop from its all-time high of $68,789, which it reached in November 2021.

Moving averages: The 50-day moving average is currently at $32,000, and the 200-day moving average is currently at $37,000. This suggests that Bitcoin is still in a downtrend.

Technical indicators: The Relative Strength Index (RSI) is currently at 37, which is below the 50% mark. This suggests that Bitcoin is oversold and could be due for a rebound. However, the MACD indicator is still in a bearish trend, which suggests that the downtrend is still in place.1

Fundamental factors: The recent sell-off in Bitcoin has been driven by a number of factors, including the ongoing war in Ukraine, rising inflation, and the Federal Reserve’s plans to raise interest rates. These factors have created a negative environment for risk assets, including Bitcoin.

Overall, the technical analysis suggests that Bitcoin is still in a downtrend. However, the RSI indicator suggests that Bitcoin could be due for a rebound. The fundamental factors, however, are still negative, which could limit the upside potential.

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