120K is the Key.

Morning folks,

Our last plan worked perfect - market re-tested 117K support and jumped out. If you have longs - you could keep it.

We consider now two alternative scenarios, although we think that this one with triangle is more probable, we do not exclude the H&S shape on 1H chart that could lead BTC down to 112-113K support area.

So, if you do not know how to deal with this - keep an eye on the 120K area and top of the right arm. Upside breakout will confirm H&S failure and triangle scenario. Otherwise, until market stands under 120K - consider H&S as a basic scenario, just for safety.

Take care, S.