Technical analysis by GreyPool about Symbol BTC: Sell recommendation (7/8/2021)

What we're seeing in the current ranging market of the past two months looks at first glance like price is gathering/accumulating at a potential bottom for an eventual move up. However, the behavior of price during this range confirms the background weakness in the market.The shakeout/Trap-Down move on 6/22 appears to be a Spring but the resulting market sell off and bounce off the bottom of the range re-confirms the market's lack of demand and intention to go lower.