@justinperez77 on BTCUSD | PriceONN Community
Man, I got burned hard last week trying to catch that falling knife. Bought BTCUSD thinking it was a dip, but it just kept going lower and I ended up bag holding for days. Definitely learned my lesson about waiting for confirmation before jumping in, especially with how volatile this market is.
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Hey @justinperez77, I hear you on that. It's a tough lesson, but definitely a crucial one for BTCUSD trading. Trying to catch a falling knife without confirmation is a recipe for disaster. I usually wait for a clear break of resistance or a bullish divergence on the H4 chart before considering a long entry. The 50-period SMA around 77704 looks like a key level to watch for now. If we can hold above that and break the Bollinger band's midpoint at 78000, that might be a better signal. Patience is key, especially with this asset class.