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

Today, BTCUSD is trading around 58,198 USD. The chart displays a Harmonic pattern with key Fibonacci levels completed, indicating a potential short-term price drop. Technical Analysis: Harmonic Pattern: The pattern shows that the price has reached a peak at point D and is now trending downwards. Resistance and Support Levels: Resistance: 59,058 USD Support: 57,335 USD Forecast The price may decline after hitting the resistance level at 59,058 USD, targeting the support level at 57,335 USD. If it breaks this support, further declines are possible. Conclusion Based on the Harmonic pattern and current support/resistance levels, BTCUSD is likely to decrease in the short term. Investors should consider a selling strategy when the price approaches the resistance at 59,058 USD and aim for profits at the support level of 57,335 USD.Trade active