Watching 23-24K for short selling

Morning folks,

Well, as you know - we're sceptic on any bullish setups that BTC is forming, just because we know the fundamental situation and it has no chances to normalize within few years. Thus, we keep valid our long-term targets on BTC of 12-13K and next is 8-9K.

Now market has big technical problems - it has no more strong supports, it is not at oversold and it is re-testing previous vital top of 20K. If price breaks it down - bitcoin sets the new "old" trading range of 3-20K. But, this is a bit longer-term story.

In short-term, market is taking relief after tough week, and all assets show the pullback, including interest rates. Thus, BTC could try to do the same, although, last time it was not able to form even minor reverse H&S on intraday chart, that we've shown you.

WE do not plan to trade any bullish pattern, but we use it for special purpose. If pattern is formed - it shows us what levels to watch for short entry. Right now, if miracle happens and H&S pattern will be formed - supposedly 23.5-24K area might be interesting for new short entry.

Still, it is not forbidden to make scalp long trades. We ignore it because trading time scale and because they are very unstable in current environment - but if you feel confidence, you could try.