Technical analysis by System_T about Symbol BTC: Sell recommendation (3/27/2024)

I found another bearish fractal for Bitcoin that occurred in July 2019, suggesting it may start another leg down from here until the halving.I feel the bounce of Bitcoin over the last few days has been too fast, although its volatility remains high, with around a 6% daily fluctuation.The difference with the similar bearish fractal found in November 2021 below is that it will not go above 73K to hunt the stop loss but instead start going down from here. Let's see if the next two days it will close red below SWB:69K again.I will keep you posted!Bitcoin was rejected at USD 72K today. If it starts bleeding from here in the next few days, the chance for this fractal to play out will increase.Bitcoin is following this fractal very closely, which is a bad sign. Let's hope Bitcoin does not close below 60K USD, or else it will be big trouble for it this month.Bitcoin shows strength. It could still go sideways from here until the halving, but this bearish fractal is no longer valid.