Upside relief at least to 5000 area is possible

Morning everybody,

BTC has hit long term targets around 4000-4200 area - daily 1.618 and weekly 1.27 butterflies. Since they are accompanied by daily oversold as well - this good background at least for technical pullback.

On 4H chart we also have steep AB=CD pattern. At first glance, pullback is possible at least to 5000 $ area which is Fib K-resistance area, including 3/8 level of major stage of collapse.

Thus, if you would like to go short - better to wait for pullback.
Scalp long position theoretically is possible, but we do not have good bullish patterns yet on hourly chart. Once it will be formed we could a) better estimate upside target, b) get more confidence with scalp buy.
Currently we see nothing of this kind yet