Morning folks,

So, bearish signs are still here. On the daily chart the same pennant that we’ve discussed last time. On 4H chart market was not even to complete “222” Sell pattern that we’ve discussed last time. I wouldn’t even talk about butterfly and its target around 32 K level.

As in the long-term we expect 2500 level on S&P 500 index , our view on BTC stands bearish as well. We do not consider taking any long positions by far.

In short-term, chances for downside butterfly increases. The next pattern’s target stands around 23K , next one 21.5K and very close to ~20K area of 200-day MA…
Be aware of GDP release today as well. Chances for negative surprise are high.