TradingView
BrentEdward
Aug 8, 2018 12:35 AM

BTC - Weeee, nice roller coaster, You must be this short to ride Short

Bitcoin / TetherUSBinance

Description

Well you may be able to keep riding this coaster if you are short... quite contrary to the signs you would normally see at a theme park, but I digress..

We broke that support line.. heck, I even turned off log on the chart to give it the best chance of not breaking it, but we did anyways. Unless this turns around quickly as in a false breakout, then I think this lower support line is toast. To me, it says we are going to go back and test the 6k level again.

I previously didn't think there would be the stomach for this, but now, I think it's just me that doesn't have the stomach for it. We also know that every time a support line is tested, the odds of breaking it increase, so it would be what, the 4th time?.. I would not be long here.

We might find a nice spot to get in around 5k, or heck maybe it goes to 3k? I want to see it stabilize somewhere first.

I was always too short to ride the roller coasters, literally.. and boy that sucked growing up, but in this case, being short might be the only way to ride this ride..

More