Don't shut down all your trades in a panic. If it has already fallen, set a rational stop and let the market take you away. The most serious thing is to remain in the market in a downtrend, as this does lead to losses, not small scares that soon recover.
On the other hand, sometimes all we have to do is press the panic button. But this is usually not the best option. It's not easy.
Even if you lose leveraged, don't try to recover leveraged. Don't take revenge on the market. If things aren't going well, go on the spot all your life.
After all, with a lot or little money, we all have a limited number of attempts. Not many . You have to not waste chances, because this is the kind of thing that leads to losses.
This is a controversial statement. Looking at the price action on the 15-minute timeframe may mean something, but never on the 5-minute timeframe. If you are going to look at the 5-minute breakout, enter only after the breakout pullback, never at the breakout. It is necessary to wait for this type of confirmation. If you go up without a pullback once in a while, be patient. Better than trying to guess every time.
In addition, observing trend channels helps a lot to give context, so that you can make your decision considering a larger trend scenario and the eventual approach of resistance. In other words, price action in a 5-minute timeframe is nothing.
This is a trap, as you can't forget that the market can go either way. Knowing has a limit and shouldn't lead you to think you can guess. Have a plan for any direction.
Instant market reactions (an instant bottom, for example) are a response from bots and scheduled orders in general. The response to this reaction, however, is human. So think like a human in recovery. Bots are good once the trend is set. For moments of shock, human thought predominates.
Win or lose, always think as if you were winning. In fact, by emulating this thought, you will be in tune with the market. In addition, it avoids being frozen due to a setback.
BTC dominance is an indicator that reveals who is rising more, him or the Alts. Therefore, he does not guide anything, he only sees who went up and who went down. It says nothing about the future.
In any case, it is good to keep in mind that everyone falls when BTC falls. And everyone goes up as he goes up. But, in the configuration in which it rises (or remains stable), as long as there is also a drop in dominance , we have a special opportunity to invest in Alts.
Usually this occurs after a top in BTC (e.g. an ATH), making room for an Altseason. But, if the BTC correction is strong, it will be a trap and there will be no Altseason.
To work on the trend, some indicators work well, but they don't help you identify a bottom that would generate the reversal. So, if you are going to work with the trend, you need to be patient and give up looking for tops and bottoms. Also for this reason, it is not possible to let a bot operate in the trend autonomously, as it can trigger precisely in the reversal.
Searching for tops and bottoms is costly, and if you need a few tries to enter a reversal, the larger move needs to be very large to accommodate those attempts. That is, looking for reversal bottoms is very dangerous (and will definitely consume a lot of time), so it is more prudent to wait for a reversal signal and enter the trend.