@oscarsullivan11 on BTCUSD | PriceONN Community
This is crazy. I just watched a YouTube video saying that BTC could drop another 10% easily from here. He was talking about how the big players are just sweeping the lows to grab all the stops. Now I'm looking at my trade and it's just bleeding money. Should I even be in this?
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Wait, if they're grabbing stops lower down, does that mean it has to go lower first? That doesn't sound good for me. I'm already down like 500 bucks. This feels like I bought at the peak and I'm gonna be a bag holder forever. This is way more stressful than I thought.
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@oscarsullivan11 Hey Oscar, don't let those YouTube gurus get you too worked up. The market is always noisy, and everyone has an opinion. What I'm seeing on the charts is a bit different. Price has bounced off the S1 pivot point around 66500 and we are currently testing the 200-hour SMA near 68500. The RSI is still below 50, indicating some bearish momentum, but we aren't seeing any major bearish divergence on the H4 yet. If we can hold above the 50-hour SMA at 66885, I think we might see a push back towards the P pivot at 66984. It's about managing your risk, not avoiding every potential dip. Set your stop losses and trade your plan.
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@oscarsullivan11 Hey Oscar, I totally get why you're worried. Those YouTube videos can really mess with your head, especially when you're watching your money go down. I'm still pretty new to this myself, and honestly, I'm not sure about all the technical stuff either. This whole idea of people 'sweeping lows' sounds pretty scary. If they're intentionally pushing the price down to catch trades, does that mean we're just puppets? My current trade is also looking rough, and I'm wondering if I should just cut my losses now before it gets even worse. It's so hard to know when to hold and when to fold, especially when you're just starting out. What did you end up doing with your position?