Crypto Wendy, who is keeping her eye on Bitcoin ETFs, futures and institutional interest in the crypto market these days, wants you to know that she is no trading expert.
“…I am here to learn and grow with everyone,” she says.
She started out in the space as a trader and hosting free meetups at Cryptospace in San Pedro, teaching and talking about basic trading methods. Three times a week, she does a live stream and discusses news and current events that impact the market on her YouTube channel. She believes we’ve seen the bottom in the crypto market for now.
“It feels good to see some green and to have alts acting accordingly,” she said of recent price activities, noting that recent sideways prices are nothing more than healthy corrections. “However, this may change according to the market and any other economic issues that arise and of course halvening.” She is seeing lots of discussion about ETFs, Bitcoin Futures and institutional interest in the market.
“These are important things to keep note of, but institutional money has been accumulating silently in the background,” she told GoldSilverBitcoin. “What is most intriguing to me are watching projects that have made it through the bear market that continue to build and grow.”
She adds: “More projects are making it seamless for users to use their platforms and crypto, this is what we need to bring more folks into the market and make it appealing. Lastly, the 2020 Bitcoin halvening is the most important factor I’m keeping an eye on, as well as how the market reacts to it as we get closer.”
Wendy, who uses basic indicators and methods, believes that what gets people’s attention when it comes to crypto is the volatility. “It’s very fun to trade and can lead to massive gains and losses depending on the market, market sentiment and economic factors,” she says, noting the most important trading concepts for one to learn are support and resistance.
“These are extremely important areas that indicate the supply and demand occurring in the market,” she notes. “Price reacts very well with these areas of the particular coin or project you are looking at.” Of course, there are always other factors to keep in mind, she notes.
“But, in my experience, using these as a guide can really help to understand what the market is doing if used correctly,” she says. In an attempt to keep things simple, Wendy sticks to patterns and techniques she is comfortable with.
“I also often take no action when my gut tells me so,” she said. “I use intuition along with macro techniques when analyzing the market and managing my trades. I also pay attention to what Bitcoin and the Total Crypto market cap is doing. Lastly, I do not trade if I have any personal issues going on as they may impact my choices while trading.”
To keep her trading skills sharpened, Wendy practices charting Bitcoin daily. She focuses on the world’s first cryptocurrency because it moves the market and impacts all other altcoins when its price changes.
“I also believe fully understanding a specific coin or project that you trade often even without actually trading it is important to learn its habits,” she said. “All coins and project have their own market cycle and are directly related to Bitcoin.”
Wendy’s favorite tool is her trading journal. “A trading journal holds you accountable for your actions and helps one grow.” She loves trading but admits its no easy job.
“To me, crypto is more than being a trader,” she says. “There are a lot of great opportunities in the space, I have met amazing people and will continue to grow as time progresses.”
Cover image by Burak K, Pexels