9K could be re-tested

Morning guys,

We keep our bearish view in longer-term perspective, watching for two destination points - 7.2K first and potentially 6.4K second.
But in short-term context, BTC could show upside pullback. Last week we call to not take shorts by far and wait for pullback as market was oversold on daily chart.


Now you can see that indeed, it stands flat. We ignore pullback and do not intend to go long, but it should provide us better chances for short entry. Potentially in could re-test major broken 9K level, but only if everything
will go positive.

Here, on 1H chart we see something that looks like double bottom pattern, but for BTC, to keep bullish chances, price has to hold above major support levels. Now it stands at 3/8 level. Only in this case upside AB=CD will be possible.
Conversely, breaking of 5/8 will mean that we're going down on daily chart and pause is over.

Thus, our plan - sit on the hands and wait, whether we will get upside AB=CD to 9K where we could consider short entry.