We still aimed on 9K area

Morning guys,

As our triangle has been broken - now market stands in reasonable upside retracement and forming "222" Sell pattern, that re-tests former triangle resistance.

No bullish setups stand on the table by far. First is uspide action is too choppy to find there signs of upside momentum. It means that this is retracement, but not new upside trend. Second - market keeps tendency of
lower tops and lower lows. To speak on some bullish scenarios we need this tendency to be broken, i.e. market has to climb above 10.7K recent top, which is not the case yet.

Thus, currently we have only one clear setup - Sell, based on this '222" pattern. Once minor target of 30% drop will be reached - move stops to breakeven.
We treat that chances on challenging 9K area this week stand high, as overall fundamental background has a lack of new bullish driving factors - Bakkt is not here yet, Libra is strangled at burth by provision authorities.