Technical analysis by ruanava about Symbol BTC: Sell recommendation (7/5/2024)

Hi all our previous setup played out very well, we are now at a very strong support level, this is on the 4 hr and if we are able to break below 55 700-54 000 then I expect more downside with the targets marked out in green (market pattern double top) for now we sit and be patient, I think scenario 2 is more likely to play out see that it will be very normal for BTC to have a rejection of around 40% ( this is very normal and healthy in a bull market), if this happens then it is GAME ON GUYS !!!! That will be extremely healthy for a pump to follow to the upside, hope this chart helps!!! Best of luck to all