41K might be re-tested

4. Jan.

Morning folks,

So, just we've completed with triumph our bullish setup on Monday - situation has changed drastically. Drivers of collapse is a separate topic for discussion. But it seems that market is very nervous now, not knowing in what direction to follow. This in turn tells, that ETF background as a driving power of the bulls is exhausted.

Today we do not have any clear patterns. But taking in consideration few moments on daily chart, like failed upside breakout, Wash&Rinse all stops that have been placed around it and downside momentum, I would stay away from any long positions by far.

Strong daily K-support was able to stop the tragedy. But momentum down is strong and we suggest that BTC still could re-test this level of ~41K area, before direction could change.