We keep our bullish view on BTC

Morning guys,

Although we correctly have estimated the direction but missed with the patterns a bit - neither 3-Drive nor reverse H&S have been formed and upside action started from simple butterfly "Buy" . But the probability has the tails...

Anyway, this is tactical question, making no changes to the core - overall sentiment on the market stands bullish and we keep our major pattern valid - daily upside butterfly with the nearest target around 10.5-10.6K level. Until market stands above 8K area we could consider taking of long positions.

Currently, as we also have triangle on 4H chart - it would be nice if BTC shows pullback somewhere to 9050 major support area, forming "222" Buy". That would be just perfect. But H&S pattern looks weak and we can't totally deny idea of immediate upward action right from K-support of 9.3K, i.e. the neckline of the pattern. Thus, it would be better to split entry in two parts 30/70 and consider taking of small position around neckline as well. It seems that previous top around 10K area should be challenged soon.