Target is 45K

Jan 25

Morning folks,

So, BTC was not strong enough to form H&S and just collapsed lower. Now finally we get patterns that could become a starting point for pullback.

Here is 4H 3-Drive Buy pattern that has minor reverse H&S on the bottom. We suggest that it is possible to consider long position because now it is accompanied with reasonable risk.

We see 45K level as target. Stop should be placed under the lows of 3-Drive, but if it is too much to you - stick with reverse H&S on 1H chart. In this case stop could placed somewhere around 39K.

This should be relatively safe trade, because market is oversold on daily chart as well...