No longs by far. 90-92K stands in focus

Morning folks,

Last time we were speaking about possible upside bounce to ~102.5K area. But BTC has failed three attempts to move out from support level where it stands. Despite that upside momentum was not bad.

With the recent high CPI on the table and weekly DRPO "Sell" pattern on the back, we suggest that downside action could start at any time. First target will be ~90-92K area just because this is daily oversold. Weekly pattern suggest target around 80-81K.

By this reason we do not consider any new intraday longs by far. Besides, on daily chart today we could get bearish grabber that supports adea of 90-92K lows level.