Quick assessment $BTC on August 8:
- Timeframe D: BTC increased significantly yesterday from 114xxx - 117xxx. I also caught this movement for the team. Continuous winning trades.
Today's D candle is undergoing a slight adjustment around the 116xxx level. I also informed the team about this adjustment, but I did not short; instead, I am waiting for a Long entry to capitalize on the next upward movement.
Support: 116000 - 115500
Resistance: 118000 - 120000
- Timeframe D4: By the end of today, the D4 candle will close. The D4 candle is at the price level of 1168xxx, which is sufficient to temporarily escape the downtrend. Therefore, I assess that the next D4 candle will still be a green candle with the peak at a higher price level.
- Timeframe W: The W candle is still in a beautiful uptrend, support has been tested, and the next target will be a new ATH.
=> Assessment:
- BTC will continue to rise. I still advise the team not to short during this time; safety is to wait for Long entries at lower price levels.
- Detailed plan will be updated later.
Wishing everyone continued success