BITCOIN PUMP and DUMP WILl REKT YOU!
In the past few days Bitcoin goes crazy. With its impulsive movements, many people lose money.
When there's a bad news Bitcoin dump; SpaceX reportedly sold its Bitcoin. Then, there's a good news. Grayscale wins its lawsuit against SEC. Bitcoin rally again and pump. After that it dump again as SEC delayed all Bitcoin Spot ETF application, which is obvious to be bad news.
This where Fundamentals comes in. Not only Technical Analysis is important, it can help you to plan your trade and risk management. But the Fundamentals and Narrative is much more superior. Even if you have a perfect technical analysis if there's a huge news it will all be useless. It will create huge impact in the market that will invalidated your technicals.
It is important to always be updated with news and narrative. So you can minimize your risk and gain profits on opportunities.
It is risky to take trades on lower timeframes.
