@LCarter54 on BTCUSD | PriceONN Community

@LCarter54 Good point about the bear traps. I agree that the weak US job data adds to the uncertainty. I'm a bit new to this, so can you explain more about how to confirm signals with volume? Is there a specific indicator or level to look out for? I'm always worried about getting faked out, especially with how volatile btcc is 😅 I'm swing trading so I need to be more careful.

@SReddy46 Agree with you, RSI on D1 is still high. But the S2 pivot is a strong level historically. I'd be cautious about shorting there too aggressively. Maybe wait for the US CPI data before making any big moves. If inflation is higher than expected, BTC could drop further, but if it's stable, we might see a bounce. Keep an eye on the DXY as well, inverse correlation is strong! 🤔 I am still leaning bullish long term though. 👍

@manish9707 Confirming signals with volume is key 🔑. When price breaks a support or resistance level, high volume on the breakout indicates strong conviction. Low volume could mean a fakeout or bear trap, as @LCarter54 mentioned. Look for volume spikes during the breakout and then increasing volume as the price moves in the direction of the break. Also, check volume on smaller timeframes like M15 or H1 to get a clearer picture. Volume precedes price! 😉

@LCarter54 I appreciate your point about potential bear traps. Volume confirmation is critical, especially in this volatile market environment. Thank you for the reminder!