18-18.2K

Morning folks,

So, our 1H H&S pattern that we've discussed last time is started well. In fact, as all other markets, BTC has got the same boost from J. Powell. Since this is external factor, hardly it will last too long. But positive NFP numbers should let BTC to complete 18-18.2K extended AB-CD target.

Once this will be completed, BTC hits strong daily resistance area, that hardly will be broken as overall sentiment remains negative here. We sure that markets wrongly understand Fed comments, accepting what they want to hear but ignoring all the other information. Our suggest that Fed slows the pace of rate hike because it is frightened with possible disaster consequences but not because inflation is defeated and the US economy is returning back to growth. Absolutely not, but particularly in this way markets understand the recent comments.

That's being said, we suggest that BTC could climb slightly higher, but hardly it will break 18-18.5 resistance area.