61K then 55-56K and up to 67-70$

Morning folks,

So, I hope you've enjoyed the H&S pattern that we've discussed last time. Now it is a question, what to do next... First is, within few hours BTC has to complete H&S target around 61000-61050. Then odds suggest some downside reaction on this target, as overall upside action stands gradual, and not too fast. Hopefully, the pullback will be somewhere to 55-56K area. Although bearish signs are forming on daily chart, such as wedge pattern and MACD divergence - the context is not ready yet, and we suppose, that BTC has the chance to make an effort and form another swing up first. Supposedly, it will be to 67-70K area.

Yes - this is actually, another larger reverse H&S at the top... Plan your trades accordingly. In general - no shorts by far. For long entry we suggest Limit order around 56K (can't say definitely yet as retracement is not started) and/or sleeping Stop Buy around the top additionally, or if no H&S will be formed and BTC keep going higher.

All these stuff will be crushed if BTC drops below 55K and keep going to the 50K lows.