Major Daily target is hit - at least 30% pullback should follow.

Morning guys,

So our yesterday suspiciouns and worries about preparing of upside breakout was not in vain. It has happened.

Despite solid rally, it is not sufficient yet to change situation on weekly chart. Here, on daily our butterfly has been erased and BTC has completed H&S 1.618 AB-CD extension target.

But, now price stands at major 5/8 resistsance, daily Oversold level and major AB-CD target, forming solid resistance cluster. Besides, we have "222" Sell pattern here, which suggests pullback at least to 30% Fib support.

Finally, when such spikes happens, this is always a question of its durability. Last time, rally was short term and totally erased soon after few weeks of sideways action. Let's see what will happen this time.

That's being said, we're watching for moderate pullback within few sessions, at least to 3/8 Fib support area around 4040$