#Weekly: Bitcoin and the global trend
Updated
Turn on the logarithmic graph. Invert scale. Imagine this is shitcoin. Global_trend was broken for the second time (Aug 17, 2015 & Mar 9, 2020). Buy or sell? If you see such things on shitcoin, you buy, increasing your position as you approach the orange zone.
Forget the inverted chart. Go back to bitcoin. Observe the downtrend (price peaks are falling: 20k > 14k > 10k > 8k?). Think about the virus, global recession, crude oil's negative prices. Bitcoin is not a hedging asset.
Summary: slow short. Cancel and buy when the price returns to the global uptrend (descent below the orange line on the current chart).
Forget the inverted chart. Go back to bitcoin. Observe the downtrend (price peaks are falling: 20k > 14k > 10k > 8k?). Think about the virus, global recession, crude oil's negative prices. Bitcoin is not a hedging asset.
Summary: slow short. Cancel and buy when the price returns to the global uptrend (descent below the orange line on the current chart).
Trade active
Reached the orange zone. Fill your short (fix long). Time to watch.Trade closed manually
Positive news, volume on bitcoin, price returns to the global_trend line.Short avg. enter = 9170. Closed manually = 9270.
Don't play against the market.
Blue zone = magnet.
Time to watch.
Comment
Keep money until the daily chart shows strength or weakness.
Comment
Well, it's time for slow short.Turn bullish again if weekly candle closes above 10165. Time to watch.
Halving is coming.
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