Hello World:

Today I am going to focus on the fibonacci retracement technique in trading Bitcoin.  

The goal in the end is to hit the 50% mark or nearly 19,344 thereabouts

We used a fibonacci filter to detect retracement lines.  These retracement lines can be created when you divide the vertical distance between the high and low points by their respective Fibonacci ratios.  These ratios provide key points to determine important levels in an asset, such as Bitcoin.  

Horizontal lines are drawn on the trading chart​​ at the 23.6%, 38.2% and 61.8% retracement levels. Some traders also like to use the 50.0% ratio.

In the picture above 19,522 is the entry level for a short position.

Short selling comes with a high level of risk, and for that the risk/reward ratio is colored in red and green.  In this case we are set up with a nearly 1/1 risk to reward.  Or more accurately 1 to 1.2 - for this we would need a lot of accuracy in the set up 

19,522 short entry

First target 19.200 or 322 points in reward

Stop - MAXIMUM RISK 19,750 or 228 in reward

This set up falls on the heels of the markets (stocks and everything else) dropping so frequently, and that this is the momentary lift that BTC needed, and we are ready for a short entry point.

The entry today, even though screened through a 30 minute filter is meant to be short lived - at best 8 hours of holding time

I hope it works out for you if you were early enough to receive this message

Trade Well