21.15K seems to be vtial

Nov 7, 2022

Morning folks,

BTC mostly stands in the same area, but still was able to complete our intraday XOP target around 21.6. Now it is not good idea to forecast something, as we should get elections result and CPI numbers, but, based on technical picture, it seems, the top of right arm, around 21.15K will be vital for both sides.

If H&S starts to work, BTC will go to the daily lows, and potentially lower. Conversely, H&S Failure and move above the top of right arm shold open road for higher upward action.

Correspondingly, bears could watch for minor bearish patterns on 15 min chart around 21.15K area to consider short entry and stop placement, while bulls should wait for the opposite - upside action back to the head's top will become a signal for position taking.