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- THE SUMMIT POST #4
Marco Johanning
Hello everyone!
Welcome to the fourth edition of my newsletter!
Every Saturday I’ll be sending out a quick newsletter on how to master crypto.
I cover topics like mindset, trends, and analysis, along with recommended readings from other authors.
Today, I focus on perspective.
I look at the topic from two different perspectives.
/imagine: perspective, abstract art --ar 16:9 --v 5
First
While I was climbing, a conversation caught my attention. A guy was discussing his recent blood results, initially bad but now showing improvement.
Curiosity got the better of my climbing partner, and he inquired about it. To our surprise, we discovered that this person had undergone a kidney transplant.
It was a true gift for him to be able to enjoy activities like climbing.
It's essential to be mindful of the perspective we choose.
It made me reflect on how fortunate I am to possess two healthy kidneys, and not only that, but also to have a healthy heart, a loving wife, and a son.
Granted, life is far from easy, especially when it comes to family matters that often bring challenges.
Yet, it's in those moments of difficulty that we also find immense joy and laughter.
It all boils down to the perspective we choose to adopt.
Second
This morning I wrote this thread about candlestick patterns:
Mastering candlestick patterns can pay off big time
I've analyzed the past 1000 days of the #Bitcoin chart and filtered out only the candlestick patterns that you truly need to know
Let's dive in...
— Marco Johanning (@themarcojo)
4:44 PM • May 25, 2023
Candlestick patterns provide one lens through which we can analyze market behavior.
For example, a Hammer pattern indicates a potential bullish trend reversal. However, if we examine the moving averages (MAs) for the same timeframe, we may see the shorter MA crossing over the longer MA, providing the same signal.
Each indicator and candlestick has its own language to describe price action, offering a unique perspective on one same thing: market behavior.
Sometimes you have to add different perspectives to get the whole picture.
It's crucial to be multilingual in this context and learn to interpret these different perspectives. Sometimes they align, confirming a particular narrative.
However, there are instances when they diverge, telling conflicting stories. This is known as a divergence. If one indicator or the chart appears bullish while another suggests bearishness, it's important to exercise caution as it may be a fakeout.
Twitter Reads
A short recap of last weeks topic:
Everybody is hungry to make big crypto gains
Most fail
Here are the secrets that made me profitable...
— Marco Johanning (@themarcojo)
6:01 PM • May 24, 2023
Great thread by Crypto Nova:
1) Is 0x743 the most 𝗽𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗹𝗲 𝘄𝗵𝗮𝗹𝗲 ever?
He's been nailing trade after trade with a realized profit of over 𝟭𝟬𝗸 𝗽𝗲𝗿𝗰𝗲𝗻𝘁.
Luck? doesn't look like it.
Every win and loss is perfectly managed.
Who is this whale and how can we 𝘁𝗿𝗮𝗰𝗸 𝗵𝗶𝗺? 🧵👇
— Crypto Nova (@CryptoGirlNova)
2:45 PM • May 24, 2023
State of the market:
Unless the 27.6k resistance is turned into support very quickly,
I expect a test of the next support at 25kA bounce from the 200-day MA, like in March, is also possible
The big picture: BTC has broken out, a return sub 20k is highly unlikely
#Bitcoin#BTC— Marco Johanning (@themarcojo)
9:30 AM • May 25, 2023
With my best regards and wishes, I hope you have a wonderful weekend.
Marco
/imagine: bye bye, abstract art --ar 16:9 --v 5
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