Keep an eye on 9100 area

Morning everybody,

Markets are suspiciously quiet in recent few weeks and BTC is not an exception. In fact, we do not need higher time frames and could keep our journey with H&S pattern here.

Just to remind you in two words our trading setup... We have downside AB-CD pattern and its major OP target is already has been hit. Potentially, market could turn up right from here and that's the reason why we were starting to watch here for bullish patterns. Last week we've identified reversed H&S pattern and opened long position. If H&S fails - price proceeds with AB-CD to its next XOP target around 8145 area.

Thus, as we've already done everything, all preparation, we should control validity of H&S pattern. Move stops to breakeven. Keep an eye on 9.1K area in particular. Downside reversal and drop below the right arm's bottom, tells that H&S is failing and price will drop below recent lows.

Despite that H&S looks not perfect, it is still valid and on daily chart we have some other bullish signs, so chances still exist that BTC could go higher.