Technical analysis by Adoamigo about Symbol BTC: Sell recommendation (7/21/2024)

BTC/USD Outlook: As I mentioned in yesterday's post, buying power is still visible but very limited. My entry point (Sell Stop) order has not yet been triggered, so I reopened a manual position at my initial stop loss level. I am confident that BTC will drop below the 64k level again. I will actively monitor the price action throughout Monday's session. If my Sell Stop order from yesterday is triggered today, I will close my second manual order, which I opened at the 67,552 level, in profit to minimize risk. I expect less volatility in today's session but will keep my stop levels tight. There could be strong movements this evening (Central European time), either resulting in a sharp drop or breaking the sideways movement to the upside that started on Friday.