Technical analysis by Doctor-Bitcoin about Symbol BTC: Sell recommendation (7/3/2024)

BTCUSD breaks important neckline on long-term path to conquering 70,000. The general context shows that the strength of the bears after forming the two peaks as mentioned is still maintained, thereby leading sellers to participate in a mass profit-taking event. So we are waiting to pull back to 61,720 and sell short. Because the 34.89 EMA lines are gradually converging in the area, the selling pressure when the price pulls back is relatively strong. Along with that, the trend line is being maintained in the short term. In general, we can find opportunities to sell when pulling back and target at least 59,980 and 59,200 for a big shot. It is important to consider whether the price channel is holding! Good luck.Trade active