Technical analysis by forex_info about Symbol BTC: Sell recommendation (7/11/2024)

The BTC/USD pair is currently in a bearish movement, adhering to the impulse and correction pattern and following the Elliott Wave 12345 structure. The price has recently moved up a few pips, touching the descending trendline and completing the 4th Elliott Wave. This suggests that the price is likely to move long-term bearish, continuing the downtrend in line with the 5th wave.