I opened a short on Solana in grid trading, for several reasons.
- Price rejection via multiple candles with a long wick above and a small body below that shows buyers are taking profits while sellers are starting to open shorts.
- Ichiumku's cloud bottom rejection.
- The MACD losing Buy Momentum.
- Hidden bearish divergence on the RSI and MACD.
- The BTC soon on the end of the short squeeze before moving to the long squeeze to the south.
- The Dollar is Bullish.
- S&P 500 is Bearish.
- Interest rates tomorrow are almost confirmed at +0.75% which will be good for the dollar and bad for the S&P 500 and the BTC, and if it's worse, then +1% rate hike, so I'll leave you imagine what's next.
My invalidation and exit from the losing trade will be via the BTC and the S&P 500 which will pass Bullish (with strength and volume) and the Dollar Bearish.
https://www.tradingview.com/x/VINSYR3E/
More longs than shorts to liquidate on SOL, a reason to go south and take liquidity.
My short position on Solana in grid trading, which I'm ready to close it in profit or loss, if there's a bearish to bullish trend reversal on either the BTC or the S&P 500 for a reason X or Y!!!
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