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FUN/BTC - Range Play (190-250) Satoshi

Strategy: Buy near Range Support

courtesy of Tradingview: Bittrex

courtesy of Tradingview: Bittrex

Funfair/Bitcoin has been bearish, but is now bearish-neutral. In this environment, we can take a stab at it, but we should limit risk as well as limit our bullish expectation. 

I think price action showed support at around 190, and might be rounding out a mini-bottom, which sets up a potential rally bak towards range resistance. I am basing levels of this premature range on the price range created on Nov 2. 

This is a quick jab with 2:1 Reward to Risk profile in a short-term sideways market.

Entry:
206

Stop
185 (-10.2%)

Targets:
1) 250 (21.3%)

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