105K for possible short entryMorning folks,
So, BTC just perfectly completed our setup for this week, turning down precisely around 107.80K, where as butterfly as H&S pattern targets were completed and falling down to predefined 98-98.5K area... Now what?
Daily trend has turned bearish, so, nominally we have no reasons for longs at least on daily chart. And should wait for the bounce to resistance levels. Now 105K seems potentially interesting for short entry, if BTC will hold bearish trend.
On intraday chart current 98-98.5 Lows in fact is a last hope for the bulls. This is K-support area, trend line support. SO tactical bounce should happen here, and it is already underway.
Thus, for intraday traders, this level might be interesting for scalp long position.
Those who would like to sell should wait for the same upside bounce. And, some resistance area, say 105K. If BTC will keep going higher, then forget about shorts for some time.
So, daily traders should wait...