Nothing new by far

Greetings everybody,

Market stands in 4H Triangle pattern, keeping door open for both directions. For long entry we need to get clear reversal pattern that we do not have yet. It might be the butterfly that we've discussed last time, H&S, or any other. So, if you prefer to wait for clear patterns before pooling the trigger - then it would be better to wait a bit.

In general area around 30K is accumulation zone for long-term investments in cryptocurrencies. By our view 20-24K area is critical for the market. While it stands above it - long-term upside trend is intact.

For the bears we do not see yet good setups. Currently its a big risk of fake downside breakouts, so you easily could be trapped in wrong direction as all weak players were washed out already and nobody selling.

Scalp traders could try to catch small patterns inside the triangle. Something like H&S that we show here...