TradeAssociatesLLC

BTC Correction Upside then Drop

Short
BITSTAMP:BTCUSD   Bitcoin
Hint: **Look only for sell setups**

Recommendation:

Bitcoin experienced parabolic growth since last year and the correction downwards looms inevitably. The fall last Tuesday is just the beginning. Expect BTC to move up to the 50% or 61% fibonacci levels then plummet further. Price can reach as low as 22k within the quarter BUT will definitely return to 60k within the year

Take a market order position upon the confluence of valid entry rules on the 4H or 1H chart.
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