30.6K seems vital for short-term

Morning folks,

So, spike up has happened as we've discussed last week, and formally, daily bullish dynamic pressure is done. But hardly it makes bulls happy. W&R suggests stop hunting action, and in general the bearish short-term signal. Of course, it doesn't mean the major reversal etc., but it could trigger deeper downside reaction.

Besides, on 4H chart our butterfly 1.27 target is done and now BTC already shows 3/8 retracement reaction. Here we suggest to keep an eye on 36.6K Agreement support area by two reasons. First is, it is a good support, that could be used for long entry and very tight stop placement.

Second is, it is good validity indicator. Normal bullish market should not break it down. If it happens, it would be better to wait with any long entry, as chances for stronger downside action will increase significantly.