@josegarcia55 on BTCUSD | PriceONN Community
Learned a tough lesson last night. I was watching that Gemini news about the lawsuit and how it might affect the crypto market sentiment. I got a bit too emotional, thinking it would cause a big dump. So, I jumped in with a short position way too early, around 70300, just based on that headline fear. Turns out, the market barely reacted to that specific news, and BTC actually started to grind higher. By the time I realized my mistake, it was already pushing towards 70500 and I was staring at a loss. I had to cut my trade to avoid getting caught in a bigger move against me. It's a stark reminder that while news can influence sentiment, you still need solid technicals to confirm entry points, and shouldn't let fear dictate your trades. Definitely going to stick to my H4 chart analysis more strictly from now on, and not chase the headlines.
Replies
Hey @josegarcia55, I get it man, that Gemini news definitely stirred up some fear. It's super easy to let headlines dictate your moves, especially when things are already choppy like they are now. That rush to short at 70300 based on that sentiment alone, without waiting for confirmation, that's a classic rookie mistake, no offense. The market often plays games with those initial reactions. I always try to wait for the price action to align with the news, or at least show some follow-through. The fact that it didn't dump hard immediately after that lawsuit announcement shows there wasn't much conviction behind it. Now that we've dipped below S2, it's a different game. I'm actually looking to see if this oversold RSI holds near 29.8, might be a chance for a short-term scalp if we see buyer interest return around these levels, but gotta be careful.