Technical analysis by tradersedgeray about Symbol BTC: Sell recommendation (6/6/2023)

BTC in a stage 3 decline Over the past year BTC broke out of a stage 4 decline it formed a "cup and handle" broke out above the 200D MA but failed to hold momentum but instead rolled over into a range. It's now trading under the POC "27900 level" the path of least resistance would be to target the 200D MA as a demand zone, this should play out by the end of this month if we print a bearish candle on the monthly. A trade invalidation would be a reclaim of the 27900 level.