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Bitcoin-short

-20% DROP IN BITCOIN. YOU DON'T WANT TO MISS OUT FROM THIS Taking a vivid look at Bitcoin from all Time frames it is clear to see that the chart are showing bearish move on all time frame. Lets start from the monthly time frame, we can see that price has rejected the 1.618 FIB Extension and market should head back down. Now, taking a look at the daily time frame price seems to be holding back and much has to do with the present upward trend line, which price just broke below and this signify that the bears are still in control of this market.
BITSTAMP:BTCUSDShort
by IamPeterIzeko
BTC Daily Update 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!
BITSTAMP:BTCUSDShort
by heaneycol
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