I almost always wait until the 3rd Elliot wave above the closest support before I'm convinced theres a breakout. I'm newish to crypto but so far it has served me pretty well.
When BTC spiked like crazy after it briefly dipped below 10k last night I was 100% parked in USDT. I would imagine a ton of people got liquidated. I may not have as big of a profit per trade, but I end up keeping most of my profits thereby coming out ahead.
As a relatively new trader I learned really fast that sometimes it's better to have no trade versus taking a high risk on a potentially negative trade.
When BTC spiked like crazy after it briefly dipped below 10k last night I was 100% parked in USDT. I would imagine a ton of people got liquidated. I may not have as big of a profit per trade, but I end up keeping most of my profits thereby coming out ahead.
As a relatively new trader I learned really fast that sometimes it's better to have no trade versus taking a high risk on a potentially negative trade.
Be careful guys.