@ebaker143 on BTCUSD | PriceONN Community
I learned a tough lesson last week with BTCUSD. I was convinced that after hitting 71k, a big drop was inevitable, especially with that Nvidia lawsuit news causing some jitters. I went short around 70.5k, thinking I was catching the falling knife. But then, overnight, it rallied hard, stopped me out, and I missed the real move down later. It just goes to show you can't always predict the exact timing, and sometimes waiting for clear confirmation, like price holding below the 50 SMA or a confirmed bearish divergence on H4, is much smarter than trying to front-run the market. The 'smart money' seems to have other plans sometimes.
Replies
@ebaker143 Ella, that Nvidia lawsuit thing sounds like a distraction. Big money moves BTC. Don't let random news scare you out of a good position. Sometimes you gotta ride the wave, even if it gets choppy. Keep your stops tight though! 🌊
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@ebaker143 Ella, it's a common pitfall to chase the drop, especially when conviction is high. The Nvidia news, while relevant to tech, often doesn't directly dictate BTC's intraday moves like macro factors or large whale activity does. For shorting BTC, I typically wait for clear bearish divergence on H4 or a confirmed break below a key support level, rather than anticipating a move based on headlines alone.