114-114K is a Key Level for BTC directionBitcoin / US DollarCOINBASE:BTCUSDSive-MortenMorning folks, So, BTC indeed dropped as we suggested. It was not a surprise with so tight liquidity situation in the US... Now, BTC keeps door open to both scenarios with some adv. on bearish side. But this adv. is not total. Since our H&S pattern in a process of failure, it is logical to suggest [b]potential Butterfly on daily chart At the same, on 1H chart we can see that BTC is forming reverse H&S pattern. By itself, it is not a problem for daily butterfly, this H&S might become a part of it. But, it could become the part of weekly opposite butterfly either. So, everything depends on 114-114.5K area which is a neckline. Upside breakout increases bullish chances. What we're going to do? Obviously - try to take a long position with H&S. No matter, will it get minor target or become a reversal pattern - anyway it has to be considered. And we also will be keep an eye on its failure. This is also important and gives us a confidence with downside continuation. Probably to the next update on Thu, we should get the clarity over this pattern. Right now we prefer to sit on the hands.