AB=CD is done, now to 6600$?

Jun 13, 2019

Morning guys,

So, our upside AB=CD action, based on last report to 8300$ area is done. As a result our "222" Sell on 4H chart stands ready to trigger downside action.

In fact, "222" Sell is a part of our H&S pattern on daily. Currently the final stage of our retracement trading plan should start. We should get downside continuation to 6400-6600$ area.

This is rather strong support and we treat it as major level to taking long-term investing position on BTC.

Thus, bears - could consider short entry, based on "222" and H&S pattern. Target is ~6500$ range. If market will move to 8500$+ - it means that setup has failed and market is going to new highs.

Bulls should wait when retracement will be over and provide good entry levels.