Not friendly environment

Greetings everybody,

So, BTC almost has reached our daily 14K butterfly target (slightly missed) and then it has become the victim of global tendency - "run into the quality" Sell-off stands everywhere, as investors run into USD and US Bonds. The yields of 10-year Bonds has dropped for 15% just within 3 days.

As elections still stand ahead, this process probably is not over yet. If our worst expectations become the reality - a lot of frauds will be with mailing voting, Biden/Tramp gap will be minimal and Supreme court will step in - this process could take longer and pressure on the markets will exacerbate. But this is ultimate scenario. Normally, pressure should start fading in the middle of next week.

It means that although it is everything good with BTC and we think that 15K target we will see in perspective of 2-3 weeks, currently it would be better to not buy immediately and wait for deeper retracement. We think that either K-support around 12.20K or 11.35K levels stand among most probable where chance to buy will appear.