50.60K

Sep 9

Morning folks,

So, BTC was so weak that even was not able to form the H&S pattern. Not as bad job data just pushed it below the floor...

There are a few bearish signs exist now on higher time frames as well... So, obviously we do not consider by far any long positions. Maybe everything is not as bad yet to consider 44K downside target on 4H chart but...

here on 4H chart it is quite possible to consider 50.6K next downside extension. Once it will be completed - keep an eye on major lows here. To keep bullish chances, BTC should not break it down. Otherwise downside action could become faster in nearest 1-2 weeks.

Take care.