Technical analysis by MCY-TRADER about Symbol BTC: Sell recommendation (7/26/2024)

BTCUSD Overview Bitcoin (BTC) has recently shown signs of weakness after a long period of consolidation. Several technical indicators suggest increased bearish pressure, which could provide a selling opportunity on the BTC/USD pair. Graphical Analysis Resistance and Support Major Resistance: 67,500 Immediate support: 64,000 USD Key support: 58,000 USD Sales Strategy Entry Points Entry: Around 67,000, after confirmation of the breakout of immediate support at USD 64,000. Price Objectives First goal: 65,000 USD (key support) Second objective: 58,000 USD (extension of the drop) Stop Loss Stop Loss: 68,500 USD, above the recent resistance zone to limit losses in the event of a bullish reversal. This analysis should provide you with a solid basis for a short position in BTC/USD, while reminding you to always adjust your strategy based on the latest market data. Happy trading!