Technical analysis by Cousin_Fat_Fat about Symbol BTC: Sell recommendation (9/24/2023)

BTCUSD BTC has put on an impressive rally from the November ’22 lows. (+105%) Now, it looks like it’s about to start turning over again for what I believe is the leg of the bear market. The Red Median Line set is drawn from major pivots: Dec ’17 high, Dec ’18 Low, and the Nov ’21 High. I plotted a (yellow) minor fork on ’22-’23 price action to show a potential path to the major (red) Median Line. Other Factors: -RSI Bear Div -Ichimoku Cloud Bearish -VWAP from the highs holding resistance. -Strong Dollar -Continued bearish price moves in equities/risk assets *Screenshots Below* I’m expecting a final flush for BTC to approximately $9,000 - $10,000, or a 65% decline from the current price level. This is also roughly in line with previous cycles. 2015 - 2018 Bull/Bear Cycle: (Bull Market High = $19.8K, Bear Market Low = $3.1K, 84.3% decline) 2018 - 2024 Bull/Bear Cycle: (High = $SWB:69K , Low = X, 84.3% decline) X = $10.8K = Low Fat_FatWeekly Ichimoku CloudWeekly Bear DivergenceAnchored VWAP from the ATH9/20/50/200 Weekly EMA Ribbon