Morning folks,

So, not occasionally we’re skeptic on any tactic bullish setup. Thus, our recent intraday pattern even has not been formed, as market was not able to form the right arm of the pattern and collapsed not reaching the neckline.
Thus, slowly but stubbornly we’re coming to major 26K target. Actually BTC has no solid barriers on the way to it.

Recent collapse has triggered the liquidation of miners’ position as well. While BTC is coming lower – as more questions appears around final destination point. With the performance that we have on weekly chart, the 12K level doesn’t seem like impossible anymore, especially in the light of our expectations of stock market collapse in nearest couple of months.

That’s being said, now we do not consider taking any long positions – neither for investing nor for speculative purposes. As BTC turns to extension mode, you could use most recent downside swing and its Fib levels to consider short entry. For instance, BTC could re-test broken support line, which also could be an option.