Hit or Miss #2

Morning guys,

Actually, we already have done all preparations for possible BTC action, but traditionally we prepare BTC update on Mondays ;)

As you can see, you second chance to take long position has worked nice. H&S on hourly chart stands valid. Now if you stand long based either on our 4H H&S pattern or 1H H&S pattern - move stops to breakeven.
The price of failure here is extremely high. Collapse of minor H&S pattern here will lead to cosequenses of failings that drop BTC to 7.5K area.

I'll show you why. Imagine that this H&S will fail - market will drop below the right arm. Any H&S failure leads to drop below the head. The head of this pattern in fact is a right arm of large H&S on 4H. Drop below the right arm
of 4H will lead to drop below the head as well around 9K area. This area has been tested three times and this time will be the last one. Breakout of 9K area will destroy bullish setup and lead market to next support area of 7.5K.

This is a kind of nested doll. Thus, if we will see irrational price action, failure of 1H H&S - close longs and consider position reversal...