IF you want to...

3. Jan. 2022Morning folks,

Hopefully, you've got a good time and Holidays with your family and had some rest... We have a lot of things to tell today, but all of them stand on higher time frames, which is out of the scope of daily analysis. Our previous setup has worked perfectly and confirmed our doubts about BTC strength. Today we could confirm the same, as we see a lot of technical moments that increase chances of another drop on BTC. But, if you still want to try to buy it - here is a 1H pattern. At least it provides reasonable risk to deal with it. And in the worst case, you could be out at breakeven.

This is the reverse H&S pattern on the 1H chart that BTC likes to form. The market now is coming to the final stage and forming the right arm. It means that somewhere around 46.3-46.35$ the entry point should be ready. Our suggestion is that chances stand high that this pattern fails, but anyway, this is a probability game and it doesn't mean that you can't try it.

If you're not sure - then sit on the hands and wait for clarity. Our basic scenario is BTC should challenge recent lows within a few sessions. So, with our next update on Thu, we should get more clarity on this situation.