Short

BTC Losing Momentum.. About to Bang Head

By lazytrade

Updated

Against the concrete ceiling.

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SAR Strategy on the 15 just went to sell, expecting it to hit the 1h chart shortly.

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If BTCUSD closes above 8150 today, then I will flip to long but for now I'm still on short.

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I will also flip my position if we enter trading hours on Monday in the 8000+ range. If price is below 7900 at that point, it will probably be a bad week for all the coins. IMO

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Super interesting candle to see on the 15 right now.. this could be the decider.. I just can't see bulls throwing more good money after bad at this particular moment in time.. maybe if Russia retaliates..

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Clearly still in the downtrend from my perspective.

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I really didn't expect to actually hit the downtrend line, but it *might* make it over there..

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Break out the tissues!!!

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Welp, BTC is putting up the good fight. I feel for it. It could still float around this price point for another 2 days before hitting my trendline.. so I'm going to set a stop loss over it and hang on the charts..but it's a pretty exciting turning point.. will it break thru or not? If it doesn't, will the rest of the market drain as well? If that happens I think it's gonna be a slim summer for hodlers.. if it breaks through then I expect the market to react with joy and it will be a good time to stack coins for a while.

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*try not to* hang on the charts, lol.

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On the 6 hour chart...my trendline is:

Above the current price in log mode
Below the current price in non-log mode

On the one day chart, it is above log trendline
On anything shorter than 6 in non-log mode.. they are well shy of the trend line.

Razors's edge until we're out of the 7800-8500 range.

If anyone wants to clear up the finer points of log vs non-log in the longer hour time frames I certainly wouldn't mind. :)

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lazytrade

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