Lesson Learned: Not respecting the chop on $BTC
I've been in crypto long enough to know better, but the last couple of months saw me get chopped up pretty bad on $BTC, particularly around the $60k-$70k range. My mistake was trying to constantly trade every swing, both long and short, in what was clearly a consolidative, high-volatility environment. Instead of waiting for a clear break or rejection of a major level, I was essentially chasing price action within a well-defined range, getting squeezed on both sides. The fees alone were significant, not to mention the emotional drain. Should have just sat on my hands or allocated a smaller, scalp-only position, rather than trying to size into every perceived pivot. It's a classic case of overtrading out of boredom and conviction that 'this time' it'll break, when the market was screaming 'no, it won't.' Respect the chop, people. Don't be me.
This hits close to home for me too. I've been trying to figure out if there are specific indicators or price action patterns that signal when you're entering more of a 'chop' zone versus a clearer trend. Do you look at anything in particular?