Technical analysis by mrmrsm89 about Symbol BTC: Sell recommendation (7/27/2024)

The Inverted Head and Shoulders pattern is a reversal pattern that typically signals a change in trend from a bullish (uptrend) to a bearish (downtrend). In this pattern, the right shoulder is larger than the head, which can be due to changes in supply and demand dynamics, such as a sudden increase in selling pressure( Mt. Gox distribution and sales by the German government.)Yesterday, Bitcoin ( BTC ) surged to $69,300, but this does not invalidate the idea. The idea becomes invalid only if the daily candle closes above $71,000. At that point, we can consider buying again in the $71,000-$74,000 range. we miss like 5% increase . In my opinion , 5% increase is not worth the risk of buying at $68,000 and then experiencing a drop to $38,000. What I think BTC 38000 - 90% BTC above 71000 -10%Btc 69700 In few hours it shall go below 68200 . This support my ideaThat was so fast. 8 hrs candle closed at 68100 , Good#Btc 66290 Maybe , there will be small pump ( bull trap ) to 68000 ( maybe ) Target : 38000This is disaster ( Coinbase appears to have violated campaign finance laws with a $25 million donation to the Fairshake cryptocurrency super PAC, made while they were in active negotiations for a federal government contract.)BTC 64100 Again , Maybe , there will be small pump ( bull trap ) to 68000 ( maybe ) Target : 38000BTC 61600 Target: 38000BTC 60700 if you shorted BTC . Make sure your liq is above 71000 I do not understand why btc did not retest 68000 level.BTC 54000 Be ready for the black swan , the biggest crashBTC 38000 this week or next weekBTC 64300 Good short enrtry. Liq >= 68000BTC #BTC 58162 38000 is the destinationBTC 54000 #btc 54000 38000 is the destination