BTC 17050-17080

Morning everybody and Merry Christmas,

So, holidays intrude a bit to BTC performance as well, delaying pattern's appearing that we've discussed last time. When activity returns, BTC could keep going to 17.35-17.4K target and area of the right arm's top of our 4H H&S pattern.

But, at the same time, we think that bulls have to worry about 17045-17080 area, which is a strong resistance of Fib levels K-area and COP (0.618 extension) target. Potentially BTC could turn down earlier. Besides, if it happens, we will get daily bearish grabber pattern that suggests even deeper action.