Technical analysis by CharliMaxwell about Symbol BTC: Sell recommendation (7/18/2024)

BTCUSDT: The downward momentum has not stopped yet 1. Price range and trend lines: The chart shows that BTCUSDT is in a falling price channel, defined by two parallel trend lines The red arrows indicate the points where the price touched the upper trendline and turned down. 2. Moving average (EMA): Currently, the price is above both EMAs, showing a short-term uptrend. 3. Analyze patterns and signals: The price is gradually approaching the upper trend line of the down channel and is likely to encounter strong resistance here. Forecast: If the price continues to encounter resistance at the upper trendline and cannot overcome it, it is likely that the price will fall again and continue to move within the falling price channel.Trade active