Overall, the market is up a little for the week. On the hourly chart, it is very clear the market is really stuck in a tight little range. No idea who wins this one.
The upward trend should be respected until proven otherwise. I got beat up today with some long trades in the morning. I shorted some this afternoon and ended up a little positive for the day.
What is really interesting is what is going on with Bitcoin. It looks like a resumption of the downward trend. Here is the weekly chart:
I was stopped out of my Ethereum position with a small gain last week and have not gone back in yet. Let’s see what happens first!
