Hi chances on reversal

Morning folks,

So, by introducing Trump Token, old Donny has put the start of global US Dollar devaluation. And Melania probably will add today...

All our short-term targets are done - weekly grabbers and H&S failure has worked fine, BTC has challenged the top of 108K. We consider this action as hype and emotional. Mostly due euphoria around D. Trump inauguration.

Due to oversold on Monthly and Daily time frames, chances on reversal are significant. So we intend to watch for DRPO "Sell" pattern on weekly chart.

Still, Donny could tell us a lot today, and madness could continue a little bit. We do not exclude that BTC could try to reach nearest upside extension around 113.5K before reversal starts.

We do not call right now for taking short positions, let's see what will be on Thu, prefer to wait for patterns and signs for reversal first. But we call to consider long positions close or, at least tight stops around them.

Take care.