The BTC moves sideways last two days. It means, there are no big orders placed to move the market either way. This is the indecision area, and both parties (sellers and buyers) try to get control of the price. This creates the opportunity to trade at the breakout. Wait for the valid breakout and place the position accordingly.
You are so right about it being indecisive. I entered at trade yesterday March 13 at about 10 pm at 9230 and im down about $181 dollars. Still holding my position . Sucks! Ive been studying trading all night. Its now 4:30 am. The Asians and Europeans and the rest of the world hasnt done anything with bitcoin in the last 6 hours. I hope it doesn't tank on me that much today. I might be forced to become an investor on this one which I hate since I am a day trader! I did have a stop limit order set up .. But when it corrected down so fast it triggered the stop limit but did not have enough time to sell my limit order on the book.
I will NEVER , EVER use a Stop limit order again. I have no idea how much I will loose on this significant hold now ! Its over 8k. My money could be locked up days or weeks now. Who knows. Thats why I hate long term investing. I might have to hold for a few days! But whats so hard right now for me is having the discipline to not sell right this minute with a market order off I am a day /swing trader. I don't like long term investing in crypto. Its just not my style. So basically bitcoin is VERY INDECISIVE RIGHT NOW like you said. Sideways markets are very dangerous ! I never expected this to turn around like it did. There were no intraday indications of such drastic sell offs. No fudd in news that Im aware about! All i see is the manipulation by the whales occasionally. But very low weak buys for yesterday and early morning. Yesterday was a completely different story on March 13......
Im hoping once American wakes up today that they can turn this around for the day! Wish me luck on this one!
I will NEVER , EVER use a Stop limit order again. I have no idea how much I will loose on this significant hold now ! Its over 8k. My money could be locked up days or weeks now. Who knows. Thats why I hate long term investing. I might have to hold for a few days! But whats so hard right now for me is having the discipline to not sell right this minute with a market order off I am a day /swing trader. I don't like long term investing in crypto. Its just not my style. So basically bitcoin is VERY INDECISIVE RIGHT NOW like you said. Sideways markets are very dangerous ! I never expected this to turn around like it did. There were no intraday indications of such drastic sell offs. No fudd in news that Im aware about! All i see is the manipulation by the whales occasionally. But very low weak buys for yesterday and early morning. Yesterday was a completely different story on March 13......
Im hoping once American wakes up today that they can turn this around for the day! Wish me luck on this one!