Morning folks,

In general this is an update to previous idea. So, take a look at them together. Last time we said, that it would be better to wait for 41-42K area, as market has have no bullish context and situation was blur. Right now we still think that time is not ready for long-term investing, as overall environment is not friendly for BTC . Still, tactically, in short-term, price stands at strong support area at least. And it might be used for short-term bullish trading. Thus, on 4H chart this is strong K-support area.

And, here on 1H chart you could see that price simultaneously is coming to XOP (1.618) target of the AB-CD pattern and finalizes this action by 3-Drive Buy. So, If intend to buy BTC – you could use them together with K-area for position taking and stop placement. But don’t marry on any position by far and move stops to breakeven ASAP . With rising US yields, falling stocks and rising US Dollar – overall background is not poisitve.