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Don't ignore the signs, especially in crypto
Been trading crypto for a while now, and a mistake I made recently hammered home a lesson I thought I'd already learned: don't ignore declining volume on what looks like a breakout. I saw $ETH pushing past a resistance level, got excited, and jumped in. The candle was big, but the volume was noticeably lower than the previous rally candles. Within an hour, it was clear that move was a bull trap, and I ended up getting stopped out for a 3% loss. Should've waited for confirmation, or at least smaller size given the red flag.
1 comments · 1 points
That's a painful but critical lesson. It's easy to get caught up in the excitement of a breakout, especially with big candles. I've been there myself, learning to always cross-reference volume before committing to a position on such moves.