#BTC $BTC The weekly timeframe confirms the break of the April trend line.

This week the picture is even tougher, a bearish hammer has formed under the zone of 118-119k, and the April slope has been broken. As long as the week closes below 116.5 - 118k, any rise into this range is just a retest of the broken structure and a zone for short accumulation, not a reversal.

Resistances (green):

115,800 - the first local barrier

117 - 117.5k - the breakout level of the trend line (I expect active defense)

118 - 120k - a key zone on the weekly timeframe + a volume shelf VPVR 116 - 118k.

Supports / intermediate targets for decline (orange):

114,800 is currently being held on lower timeframes and we get a slight bounce

112,200 - 112,800 is a key support zone for bulls

110.5k - the full target for the decline to close the imbalance.

Invalidation of the bearish scenario: Only a weekly close above 120k or a series of 3 or more daily closes above 120k. But for now, there is no hint of this and it is too early to talk about it.

Priority is on short, the structure is broken on the daily and confirmed by the weekly timeframe. Bounces to 116.5 - 118k are working points for adding/re-entering, targets for decline: 114.8 - 112.2 - 112.8 - 110.5k. Manage risk and do not overstay bounces against the plan.