21.70-22K is vital bearish area

Morning folks,

Thursday plan has worked nice. Wyoming meeting just has confirmed our long-term view and why we call to stay aside of BTC since Jan 2022. BTW, we've prepared new fundamental report where we explain why it is not the time yet to invest, set downside targets and also share forecasts of long-term performance of BTC and US Stocks... ITs free on Forexpeacearmy website, just watch for Blog part and find my Blog - Sive Morten.

Now concerning the short-term. As market has no solid support, context remains bearish. Nearest downside targets are 19.2K and 17.5K. But, as daily bearish flag has been broken - for short term BTC it is vital to stay outside the flag. Otherwise stronger upside bounce is possible.

That's why for short-term bearish setup we consider 21.70-22.05K resistance area as a vital, because it also coincides with the flag trendline. For position taking you could consider any other Fib levels - 20.41K and 21K K-resistance.

We do not consider any long positions by far.