Short on 38.2% Fib Level - Low Risk if Wrong

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Pure TA trade.

Short with SL at Local High...looking at a Short at 50% and 61.8% for 2 more chances to call a top which means I'll be using low leverage on these trades.

Will average in when LOCAL top confirmed.

Goal will be 8500 then 7700 and 6800 as the lowest as this will be the right shoulder of a IH&S play...if this plays out will look at re-entering at 6800 level.

Wish me luck.


Interesting analysis.

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