BE AWARE OF 111K BTC RETRACEMENT IF LARGER H&S STARTS FORMING

Morning folks,

So, our 116.15K target is perfectly met. What's next? First is, some quiet time should be until the Fed meeting. As market hits upside AB=CD, forming daily "222" Sell around resistance area, it is reasonable to suggest a pullback.

Normally, (before BTC proceeds to 119K target here) is to expect the pullback to nearest two levels - 114+K and 112.60-113.17K K-area as it is shown on 1H chart. But, we also do not exclude scenario of a bigger reverse H&S

So, if you will see that market is dropping further - keep an eye on 111K support. This is the last bullish outpost for short-term tendency. Drop to 111K doesn't mean yet that the upside game is over.

So, let's watch first for most common scenario of retracement, but also keep in mind 111K level. We do not consider any bearish trades for now and watch for deeps to buy.

I mark this idea as "bearish" just because of expected retracement. In general we have a bullish view.