Our club had a chainsaw training event last month, with some 1-on-1 sessions covering both safety and (once that was ok) strategies for cutting blanks. One thing I did with each of my students was to have them cut a crotch so we could talk about choices.
You want to cut out the piths, but most of the figure is between the branches, so cutting thru the two pith-lines also cuts right thru that figure. Doh! But if you cut so you keep that bit between the branches, you usually end up with a much smaller piece.
After discussing it, I had them cut thru the piths and we looked at the figure that exposed. Then I suggested that they make two bowls - one natural edge (figure in the bottom) and another with the bottom near the bark so the figure is on the edge of the bowl. That pair of bowls from the same crotch should give them a good start at "seeing" what's inside the tree and some experience to guide the decisions on their next crotch. (we didn't have the checking problems that your piece has, so you've got more to deal with here).
It all comes down to experience, learning how to "see thru the bark" to what (might) be inside. Only (best) way to get there is to quit worrying about how to cut each piece and just get on with it - make some decision and do it. (wood literally grows on trees, so there'll be more). Remember what you did and how it turned out, and apply that knowledge next time (and the next, etc).