Quick assessment $BTC 5/8 :

- Daily frame (D1): BTC yesterday continued to recover slightly around 2k prices from 114000-1157xx. In this phase, I call on everyone to close all Long orders around the 115000 area and wait for further signals as the chart looks quite bad.

Today's Daily chart is still in a down wave, with weak recovery forces, so I have switched to calling everyone to go for small shorts with the plan that BTC will create another bottom.

Support: 114000 - 112000

Resistance: 115500 - 118000

- 4-hour frame (D4): Today's D4 frame opened with the candle being pulled back to a down wave at the price range of 114xxx. BTC has 3 days to strongly bounce back to the 116-117 areas. If unsuccessful, it is very likely that BTC will be quickly pulled back to around 110k before the next recovery force.

- Weekly frame (W): It is still forming an accumulation zone in the up wave. Strong support around 112000-112500.

=> Assessment:

- The charts of the larger frames are quite bad, with continuous signs of creating peaks so BTC will continue to decrease to wait for a stronger recovery force.

- Details will be updated in the thread.

Wishing everyone success!