Good morning/evening/night guys. As every Monday, find here your weekly dose on market analysis, the most relevant industry stats, and our best tips to profit from this exciting market while learning from it!

Bitcoin

Time to be careful here with Bitcoin, reaching the final squeeze of the rising wedge and teasing again with the key $58,000 support. Breakout of it would be ultra bullish and would probably lead to new ATH levels. But thinking on the short-term scenario I would make sure to raise the SL's on all the trades and be careful.

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The Bitcoin Dominance has been following the path we commented and I think it's still headed to 40%.

The best scenario would be to have it ranging there (40%-47%) for a month or so, so altcoins can shine while Bitcoin remains stable without major shakeouts too.

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Big Caps index

If we check into the Big Caps Index we can also see a huge rise without consolidation almost, already reaching the next key resistance. on the 33,000 sats. Again, time to be careful here, we might be close to a wipeout or at the least consolidation stage.

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Mid Caps index

The Mid Caps Index is looking slightly better as it reached the consolidation stage a few days ago, now time to track this consolidation to see how bullish it can be. Ready to buy all the dips or the bull pennant squeezes. Remember to keep some liquidity for that. The breakout of over 6,500 enables the full bullish reversal here.

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The Mid Caps Index is a custom index of altcoins I've made where I aggregated ADA, VET, ICX, NANO, WAVES, BAT, ZRX, ONT, ZIL...etc, and their weight on the formula (chart) comes determined by their market cap share.

Crypto Stats

Transactions on the Ethereum Network

Ethereum network has experienced a record 41.76 million transactions in April-2021. We are seeing fast growth on the Ethereum network due to the boom of decentralized finance and a 45x increase in the price of the Ethereum in the last year or so.

The price of Ethereum is already touching $4k and it is expected to grow further in the coming weeks.

Top Blockchain by Average daily development activity on Github (last 30 days)

DOT: Polkadot has achieved the 1st spot with strong development activities a couple of months ago after beating the likes of Ethereum and Cardano.

KSM: Self-described as "Polkadot's wild cousin" has also achieved the 2nd position and is also ranked at 47th place in terms of market capitalization.

ADA: Cardano which has remained on the top of the list with most development activity for several months had dropped to 3rd place after both DOT and KSM taking over it.

Top 10 NFT tokens by market capitalization

Theta: Theta is on the top with a market capitalization of $11.95 million in the Collectibles & NFTs category of cryptocurrencies.

CHZ: Chiliz another promising project is in 2nd place with $2.68 million market capitalization in the NFTs category.

Mana: Decentraland, which defines itself as a virtual reality platform is in 3rd place with a market capitalization of $2.23 million.

Top 10 coins mentioned on Twitter in last week

Twitter is the mainstream social media to gauge the current popularity of any coin.

Last week DOGE was on the top with more than 2.4 million tweets while hitting a new ATH of $0.739 by gaining 143% and then dropping back to $0.418.

Surprisingly BTC is in 2nd place for the 1st time with 1.6 million tweets.

Another surprise is the SAFEMOON on 3rd place with 902k tweets which gained 120% in last week.

Ethereum which has gained over $1,300 in May alone is in 4th place with 475k tweets.

Skin in the game

Techniques to get rid of procrastination in trading

Procrastination is the tendency to avoid things that we know we need to do. This is one of the major problems for traders even when they plan things but could not execute them the way they planned. Recent studies have shown that people regret more things they could not do rather than the things they tried but failed to do. You might fail a few times but if you keep trying you will ultimately get it right. But on the other hand, if you altogether avoid doing something then it will not only create a feeling of guilt for you but will also have a far-reaching effect on your mindset because there is a possibility that you might not get that kind of opportunity again.

Ignoring the value of time and lack of self-discipline is one of the main reasons for procrastination. There are few techniques on getting rid of procrastination that can do wonders in overcoming this unproductive habit. Let’s take a look at them.

a.   To-do list

Getting more specific about your trading routine can yield you better results. You need to schedule your next day's work in advance by specifically giving time to everything you want to do. Review that list in the morning and get the work. Write down specifically like committing yourself to analyze charts at a particular time and will read the market updates or will discuss something with a fellow trader at a specific time. It will keep you on track and I can assure you that your productivity increases and you will start liking yourself for doing things the way you wanted to. This will only help you in getting positive results in your trading.

b.   Breakdown bigger tasks into smaller ones

Breaking down bigger things into small ones will help increase the chances of doing things on time and will also increase your productivity. Like you have two new indicators to look into tomorrow in two hours, instead of fixing one time for both you need to fix a separate time for each indicator and take the spare time between both as your reward time. It will make you more auditable and will allow you to analyze both indicators but if you had fixed one time to both you might end up doing one and leaving the other for tomorrow that would impact the next day's productivity and so on.

c.   Mindfulness

Procrastination can be the result of distraction due to negative thoughts about the future. When it is the case we avoid doing things that we should because we have made up our mind already about our future. That’s where being mindful helps us to focus on the present without being judgmental about our future. Live in the present, focus, work hard and you will not only be able to get positive about the future but will also achieve it. In the same way, being negative about your trading results will only impact your trading performance in a bad way because you might not take a trade that was guaranteed to be a successful one or you may not execute it the way you planned due to fear of loss.

d.   Work commitment technique

Committing yourself to do things you want is another way of getting rid of procrastination. You can commit yourself that you will not leave the chair until you complete something or changing the environment can also help. Like you have to complete a difficult task today, you may go to a café with your laptop and commit yourself to not leaving the café until you complete a task. Changing the environment helps a lot as you will not get distracted by the TV, children, or a sudden arrival of a guest.

Apart from these techniques, our actions and willingness to do things can only keep us on track to achieve our goals. We cannot be successful traders if we are spending the majority of the time in procrastination mode. Get yourself up and start a fight against procrastination.

Have a nice day, see you soon!Rand