11550 is next resistanceMorning guys,
Our strategy on weekly/daily time frames stands the same - we watch for reaction on major resistance/target levels and wait for healthy retracement to step in. It doesn't suggest any short positions on BTC right now
Market gradually is coming to all time 50% Fib resistance around 11550. On daily chart we have XOP target 100$ lower - 11450. Thus, this is next area where we will keep an eye on market reaction.
As market stands overbought here, on daily, this distance probably will take few sessions.
Taking of short positions is not forbidden, of course, but we call for few moments. First is do not marry any short position as overall bullish momentum stands strong right now and consider nearest targets. Second - get strong resistance, and finally - get clear bearish pattern. Applying to current situation - wait reaching of 11450-11550 and watch for bearish patterns.
