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BTC Daily Update

Short
BITSTAMP:BTCUSD   Bitcoin
With recent BTC dominance of 70%+, Price Action has shown little to no signs of major upward movement. Fundamentally we are overdue for a major correction before the New Year and we are itching closer for that to happen. We see major resistance at the .618 levels (11,200), Optimal Trade Entry in this setup is anywhere from 10800 to 11200 depending on desired RR, recommended is 20-40% of your position from 10800-11000 and the rest 11000-11200 if price allows. SL no higher than 11400-11500 for this setup to allow room for possible wick fishing/stop runs. Happy Trading!

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