Moderate 30% retracement is still on the table

Morning guys,

BTC is coiling around the top, and we still think that for any long position taking, it would be better to get two things on the back - strong support area and bullish pattern.

Thus, on 4H chart we could wait for pullback to 4430-4580 area and it would be nice if we will get "222" Buy pattern.

Meantime, market is forming wedge pattern, Wash & rinse of the top already has happened and price barely touches the upper border of the wedge. This is signs of weakness.
Once rally has happened we've announced our suspicions concerning its durability, because as it was information in the net that it could be a kind of Ddos action among major BTC holders
to shift price higher.
As soon as attack was fininshed - market turnover has dropped miserably. BTC market has very low liquidity and it is easy to manipulate prices.

This is the reason why we do not hurry to bet on upside continuation as we need to see clear signs of real money joining the rally.

Thus we still think that chances on retracement down, at least 3/8 are high enough.