In summary
On April 23, Jaime Merino, better known as Translatino, dedicated his program to analyze trader psychology and why current price areas are no longer optimal to buy, warning about the danger of operating based on emotions.
“People were afraid of $ 75,000, at $ 80,000, and today we are at $ 93,000 are no longer afraid. The moral? Fear is removed when the price goes up,” said Merino, exposing the contradiction of those who refuse to enter the market when prices are low, but feel urgency to buy at maximum when there is a greater probability of a bassist correction.
Bitcoin’s price will continue its bullish rally in the next few days
Translatino performed his Bitcoin analysis in different temporalities. As for the daily analysis, Merino establishes that after an upward movement from $ 7,000 to $ 12,000 in approximately ten days, Bitcoin could enter what he calls “non -operable zone.” He explained that, when BTC exceeded $ 87,000, the risk of entering and suffering a correction became too high.
“You can not buy anymore. Not because the price will not continue to rise, but because if you did not buy at $ 75,000, $ 77,000 $ 80,000, it is because I had a feeling. And today you feel like buying at $ 93,000. That is why you will lose,” he argued firmly. “From $ 87,000, I don’t even invite me. I don’t even talk to me. The probability that you lose is quite large.”
The analyst especially criticized those who operate based on a single candle of the graph instead of complete patterns: “Do you operate a candle or operate an input pattern? If you operate a candle, it is quite bad in this market. The entrance was down [señalando la zona de entrada en los $75.000]”.
In the monthly graph, he maintains his bullish position for Bitcoin, indicating that it is a good time to accumulate: “In the monthly we buy and never sell,” he explained, highlighting that in this temporality he values Bitcoin “for how disruptive it is” more than for its price in dollars.
As for short -term strategies, Merino reveals that he has short positions in Ethereum, not in Bitcoin: “Bitcoin in Short no. And if not, ask people who were in Short at $ 80,000.” For ETH and other Altcoins (such as Litecoin, XRP, ADA and AVAX), anticipate a correction by the end of April or early May, projecting falls to the $ 1,686- $ 1,700 for Ethereum.
Translatino emphasizes the use of stop loss
As he usually does in his transmissions, Merino addressed risk management explaining his preference for putting Stops in the entrance price after 5% in favor: “The most important thing we have is our raw material, that is, the money we are working with.”
He added that, although its strategy can result in several Stops in a row, when an operation is successful, it can obtain 60% -80% gain, widely compensating the losses.
As Merino pointed out “it is not better trader who does 20 operations per day compared to the one that makes one, two or three in the month with less effort.” The important thing is to know how to manage capital and operate the market calmly without being carried away by the euphoria of a drastic change in a single daily or weekly movement.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
