Technical analysis by mr_bombastic_signal about Symbol BTC: Sell recommendation (9/3/2024)

📢 Signal: SELL BTC/USDT 📉Entry Price: 59167.61🔍TP1: 58341.67 🎯TP2: 57466.10 🎯TP3: 56068.57 🎯SL: 59521.20 ⛔️💡 Ensure proper risk management when following signals!💬 Comment:"Selling Rationale:Price Exhaustion: The recent rally in BTC/USDT appears to be losing steam, suggesting that the upward momentum is fading and a correction may be imminent.Key Resistance Zone: The price is near a strong resistance level, which has previously acted as a ceiling, increasing the likelihood of a reversal.Entry Point Reasoning:Strategic Positioning: Entering at 59033 takes advantage of the anticipated resistance at this level, positioning the trade to capitalize on a potential downward move as sellers gain control.Profit Target Strategy:TP1 (58341): A conservative target to secure early gains from an expected initial dip.TP2 (57466): A more ambitious target that looks to capture a larger portion of the expected decline as the price potentially moves lower.TP3 (56068): A deep target aimed at benefiting from a significant bearish move, allowing for maximum profit if the trend continues downward.Stop Loss Placement:SL at 59386: Carefully placed just above the resistance level, this stop loss minimizes potential losses while providing enough room for typical market fluctuations before a reversal.The box I highlighted on the chart is from the M15 time frame, showing a minor trigger. I believe it's a solid spot to join this rally."mr_bombastic_signal🔥TP1 reached ✅🔥TP2 reached ✅🔥TP3 reached ✅We've just hit TP3 with an impressive 1:8 risk-to-reward ratio! Great work, everyone—let’s keep the momentum going!