Pelosi has made the day

Morning folks,

It seems technicals take back seat totally. Pelosi has changed the opinion three times in recent week and rally is a result of last change. It is extremely difficult to trade in current environment. It seems that our short-term bearish context is totally crushed and today all eyes of investors will be on achievement of stimulus pack, as Pelosi said, it should be reached on Tuesday.

The one thing that I would like to say that driving factors are very tricky now. We should understand that recent rally is just a product of verbal intervention. It means that if market will not get what he wants - price returns back even faster...

Taking this moment in mind, we do not exclude reversal here. Yes BTC could climb slightly higher to 12K area, where 1.618 extension stands. But we have growing MACD divergence and, if you keep longs - just consider this scenario. Bears have no context to get short right now, but if sharp sell-off happens from 12K, your chances will be on 11.7K pullback. Who said that stimulus pack definitely will be achieved?