Wait at least till 11K

Morning folks,

After initial spike based on our former scenario market has stopped and was put on hold by Pelosi words on rejection of 1.8Trln stimulus that has hurt all markets across the board. BTC as you know keeps high degree of correlation with stocks and this is the reason why we suggest that it could go deeper before it again will go higher. Just take a look what is going on right now on DAX and S&P (-3% by current moment).

Besides, pure technical moments here - our "222" Sell pattern on daily chart right at major 5/8 Fib resistance and bearish grabber on 4H chart makes us expect something like downside AB-CD pattern back to 11-11.1K area, where strong intraday support stands. It is no guarantee that BTC stops there, but, at least this level is strong enough to consider long entry...

That's being said we're not inspiring to buy right now and prefer to wait till 11-11.1K area first.