Technical analysis by ranxero46 about Symbol BTC: Sell recommendation (9/6/2024)

Small consolidation zone between 27th August and 3rd September. 4th September saw price dropping out of the zone and a strong bullish rejection from the bullish breakout line. The move was wiped out completely the next day and thus turned into a bull trap. Today the bullish breakout from 8th August was filled with a rather weak rejection. The measured move down and the still unfilled bullish breakout from 5th August indicate price targetting the 50-52K zone ... at least.Over the last 12 days we only say one strong bullish candle. Bears are definitely in control.