As long as trading is concern, it's very essential you have a guideline rules you follow while trading, and one of those rules is not trading when not sure of the market.
As simple as it may sound, it's very difficult to abide by it.
If you have a basic rule and you don't stand by it, you will not only be hurting your trading funds, you are becoming a bad trader who doesn't care about the future of his business. Trading is like a business and you have to treat it as such because if you have a business running and you are aware that if you open the shop in the in night, you may sell but it can invite hoodlums to it and take away your items and yet you still went ahead to do that, it means you don't value your business. Trading is a pure business.
A good and Skill trader must know that in other to stay long and profitable in the market,
it very important we know when to stay off the market,
there are always opportunities in the market,
so why risk your capital
when you are not sure
of your analysis or the market is in an awkward situation like consolidation from the 4hrs timeframe? When there is no clear direction and confirmation of the next move the market is trying to take.
The best we can do is to stay off, the most important thing is for us to be profitable, even if we have to trade once in a week , it's better than losing, it's better that our account is intact than blowing it.
Staying off is the best we can do, when not sure.
As easy as it sound "staying off the market" is really hard for some people but I think it what you need to consider first is the type of trader you are as a person. If you are a trader that loves trading daily, then there is no any way you will stay off the market a day, you lose the opportunity making money for that day but as a on and off trader that only trade when there is opportunity, then you need to always do due diligence if it is okay to enter the market or not.
However, bitcoin market is tricky, the days you don't want to trade are the days you might miss out the goodies t the market. As much as I like trading, the only way to win from this market is to always hold some coins so as not to always miss opportunity of pumps more particularly as we are about to enter bull run, coins will be flying everywhere very soon and even as a trader, it's better not to miss the chance.