Keep watching for 99-102K

18 Nov

Morning folks,

Since last week BTC has reached a solid target/resistance area together with weekly Overbought (where it still stands) we have considered two scenarios - either immediate downside pullback via H&S pattern, or attempt to touch major 102K target first and then the pullback.

Now it seems that everything goes with the latter scenario. H&S shape on 4H chart is totally ruined. while our 3-Drive stands well and its final part could take the shape of the butterfly.

We see nothing interesting for bears by far. But for bulls, if you will control the riks and 86K lows, which is invalidation point of this bullish scenario - everything could be fine.