Analysis $BTC on May 8:
- D1 Frame: BTC fluctuated within a short price range of 95-97x yesterday. Based on Fed news, it tested the resistance area of 95x and still closed with a green candle, which allowed for a quick pump up to 99x this morning.
BTC is approaching the psychologically important price area of 100k, so indicators are showing signs of a slight peak. Therefore, if there isn't a continued pump breaking out of the 100-101 range, the price of BTC could easily be pushed down deeply.
Support: 975-965
Resistance: 100 - 108
- D4 Frame: The D4 candle will close today, and a few days ago I mentioned that this D4 candle's closure would cause many people to miss out when the market trend becomes much clearer. The possibility is that many will miss the Long opportunity.
The D4 chart looks quite good, and it definitely won't close below 98k this candle. The next D4 candle will still be green with a new high.
- W Frame: It is on the verge of breaking the downtrend; as long as BTC rises another 3-4k in price, it will successfully break out. Let's wait and see where this week's candle will close.
=> Analysis:
- BTC continues to rise strongly. You shouldn't short against the trend as it isn't time for BTC to make a deep correction; small correction waves of 1-1.5k in price should be ignored.
- Congratulations to those who followed my call and caught this entire upward wave, hitting the right bottom area of 955-960 last night.
- I will continue to monitor the market and provide detailed updates on price areas in the future.
Wishing everyone continued success!