BTCUSD Here's the short

12 ก.ค. 2016

Timing is coming to fruition this week. We are back at the Daily Resistance level of 672. Holding here I'll play it down first to the Daily support of 611. Taking a short off this level going into the statistically bearish day of Wednesday is the play. The break or hold of 672 is going to be key. Should it break the resistance the "clockwork" Friday bullish day comes into play for bullish.

Don't feel right?
If one has some fundamental, ideological, astrological, or otherwise vested view that it's wrong to short Bitcoin you can always short Litecoin as a hedge. Bearish plays on Litecoin always have exaggerated moves. I'll repeat what I've said for years; my long term target on Litecoin is $0.00. I don't post about LTCUSD because few people care enough to read thus emphasizing my point.

Disclaimer
The statistics I am referencing are just that; statistics. That means that for every fact that falls under 100% means there is the remainder within probabilities that the opposite will occur. Still, knowing the highest probability statistics combined with technical analysis and risk management equals a robust trading plan. That being said; I'm going into the rest of the week with this research in mind.