Much stop loss, so scare

Welcome to the week of July 30th, 2018.

Hopefully if you're reading this it means you've survived the whipsaws without stepping out of your window. Or at least the injuries were minor enough to use your laptop in the hospital.

With the exception of some brutal fake-outs, bitcoin has been range bound between ~8100 and ~8300 since the beginning of last week. I still think the short/medium term direction is downward, but I've been shifting more bullish with each passing day and each passing failure to sustain beneath the 8100 floor.

I'm short. I'm sweating. What's it to ya?

Here's the hourly chart showing the price range and some rejection points where price was pushed back into the 8100-8300 zone.

I hope that the next few days will see a more decisive trend emerging for bitcoin, but it could stay in this zone for awhile and chop some more plebs out. Careful with the leverage y'all.

Not much to report from the weekend except for a pretty massive bear fake-out this morning. If something crazy happens this evening, I may post an update. Otherwise, see you on the other side of sun down.

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