The overnight market is the most misleading. Bitcoin is at 75,900, down 0.02%, with volume of just 1,774 contracts—quieter than during the day.
At times like this, the order book is thin, and a single wick can trigger a string of stop-losses. Just now, the 1-hour volume dropped from 299 to a mere handful of trades, which shows that practically no one wants to make a move.
My take: don’t open new positions overnight, especially not with leverage.
If you really want to wait, wait until volume returns before dawn. If it breaks below 75,500, revisit it tomorrow. If it gets above 76,200, same thing—revisit it tomorrow.
Sleep is more valuable than watching the charts.
#BTC
At times like this, the order book is thin, and a single wick can trigger a string of stop-losses. Just now, the 1-hour volume dropped from 299 to a mere handful of trades, which shows that practically no one wants to make a move.
My take: don’t open new positions overnight, especially not with leverage.
If you really want to wait, wait until volume returns before dawn. If it breaks below 75,500, revisit it tomorrow. If it gets above 76,200, same thing—revisit it tomorrow.
Sleep is more valuable than watching the charts.
#BTC