$BTC

BTC Analysis for May 19:

- Daily Frame (D1): BTC increased from 103-106x yesterday. Although there were times when the price dropped significantly, it still closed with a full green candle. However, this morning, BTC created a slight peak around 107x and has been continuously sold down to around 102x (not finished yet).

With the drop from 107-102, the chart has changed significantly. Many larger timeframes simultaneously show reversal signals to the downside.

Support: 102000-100500

Resistance: 107000

- 4-Hour Frame (D4): The D4 chart will close today, but it is highly likely that nothing will change and it will still be a red candle to continue pushing the price down in the next D4 candle.

- Weekly Frame (W): The W candle has closed in green for the 6th consecutive time, showing strong and consistent buying pressure for BTC. The W frame has entered an uptrend cycle, so every red candle is a very good entry point to buy.

Therefore, I anticipate that this week BTC will have a fairly deep bottom (possibly lower than last week's bottom) but will also coincide with a green wick candle. Let's wait and see.

=> Assessment:

- After nearly ten days hovering around 101-105, BTC broke out strongly towards the price path yesterday. Although the price is currently returning to the hovering area, it is in a very different situation. BTC will continue to decrease rapidly to create the bottom of this down wave and then increase again to be in line with the uptrend cycle.

- This morning, I advised everyone to exit around 106400, which was quite reasonable since I saw the weekly candle was not stable. But I also missed the opportunity to short on this long price path.

- The price zones will be updated in detail later.

Wishing everyone success in the new week