Cryptocurrency: Learning Technical Analysis Again
Date: May 5, 2022 (Thursday)
Learning cryptocurrency is like diving into the ocean. You will never know what lies ahead until you continue to explore what lies beyond it.
On my published article about my goals for the month of May, I have mentioned that one of my goals is to continue learning about the trading world, specifically on the technical analysis aspect. I wanted to learn the world of cryptocurrency even if I'm still far from understanding the whole thing. I got inspired by a lot of people in this platform to learn more as I'm astound on how knowledgeable they are in this crypto world. I even saw other users in noise.cash posting about their analysis about the flow of cryptocurrency lately. You see, I still have a long journey to go, but what's important is that I started walking the path and hopefully gain so much knowledge as I continue.
Not to mention, I have this book that was given to me by my brother-in-law. It's a book about trading secrets; a complete beginner's guide to making money in stocks and cryto. Needless to say, I am a beginner and little to none in terms of understanding the technical analysis part of the crypto world. I just don't want to sit on the corner and wait for other people to tell me what to do next. I have to take the iniative and give myself a direction through learning the technicalities.
The book actually has seven chapters, and I have read until Chapter 2. I started reading Chapter 3 of it last two weeks ago, but due to the hectic sched that I had, I decided to pause for a moment and focus on the work tasks that was given to me. Even though I told myself that I need to focus on my tasks, I still can't forget about the thought of learning it once more.
To be honest, I decided to pause for a while as well, since I am on the technical analysis part. In Chapter 3, I will be able to learn about the candlesticks and patterns. Well, I have a little background on what's with the green and red candles though as I was able to learn in beforehand. But the bullish and bearish patterns are something that I still need to focus more.
You see, the patterns provided there are so easy to understand, but then once we try to look into the actual chart, the battle starts. I have a lot of questions in mind. Like the time frame that I need to click to monitor the chart, and so on. A lot of questions that I decided to take a break plus the work task; I think I make sense in that way.
Plans for Today
Since it's a new day for technical analysis and stuff. I have crafted ways for me to make my learning sessions more productive. You see, I can't learn that much if I'm demotivated plus no plans for today. Honestly, I still feel tired and sleepy, I even wanted to just sleep in the comfort of my bed knowing that it's raining, but I'll prepare coffee later on to wake up my sleepy braincells, then I'm good.
Learn about the bullish and bearish patterns and try to check the Bitcoin chart if they are present, then analyze. You see, Bitcoin, as they say, is the mother of all cryptocurrencies. When Bitcoin starts to pump, so as others. So perhaps, for my learning session, I'll use Bitcoin as my model. I also need to analyze them though and give out reflections on what I have discovered.
Jot down what I have learned in my trading notebook. I decided to maximize the notebook that I have made before through jotting down my learnings. I don't want to waste all my learnings for today, so I will write it down for me to have something to read again next time.
Grab a snack and sleep, afterwards. You might be thinking, is this actually a productive plan? Well, I have included this one because this is a must. I know for sure that after dealing with all the terms and technicalities, my mind will surely shrink due to tiredness, so snacks and sleep is a must.
I have decided to focus on Chapter 3 for today and then apply the knowledge that I have learned today, for tomorrow. I think this plan of mine would work in someway though; hopefully. I hope my laziness would not creep in the corner as well. Needless to say, charts on BTC, ETH, BCH, and any charts in cryptocurrency world is something thay I want to learn further.
You see, the world of cryptocurrency is just so vast that it takes a lot of time for it to be mastered. That's why I actually salute all the people who have mastered it so far. With that I could say that they're truly legends. Well, nothing is impossible here, I'll work hard to reach my goal which is to be good at analyzing charts. This is my goal and my dream in life, who knows I'll be able to reach it soon.
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All the best on your learning journey! I should probably study some more as well :)