@faizalibrahim86 on BTCUSD | PriceONN Community

Another update: Okay, so BTC just bounced off the S1 pivot, which means I was wrong (again!). It's hovering around 66800 now. Maybe it's going to test that 20 SMA again after all? I'm so confused! I'm thinking of waiting to see if it breaks above 67000 before considering a long position. Maybe I should just stick to my day job, haha. But seriously, any tips on staying patient and avoiding FOMO?

Update: Okay, so I've been reading more about trend confirmation. I think I understand it a bit better now. If BTC breaks below the S1 pivot at 66666, that could be a strong signal for a further drop, right? I'm thinking of setting a small short position with a tight SL just above the pivot. Is that too risky for a noob like me? BTW, I'm trying to avoid getting rekt like my uncle did with Doge last year. LOL

@faizalibrahim86 Hey Faizal, welcome to the world of trading! Yeah, seeing the price below the 20 SMA can be an early sign of a downtrend, but it's not a guarantee. To confirm it, look for a break below previous swing lows and the 50 SMA. Also, keep an eye on the RSI. If it stays below 50, that's more confirmation. Don't just rely on one indicator though – use a combination to get a clearer picture. D1 charts are good for confirming trends, then H4 for entries. Good luck, and remember to manage your risk!