Technical analysis by TSFC about Symbol BTC: Sell recommendation (8/7/2024)

At the moment, the BTCUSD price has come to the support of $54 821.76 (the HP level of the turquoise model). If the price goes under this level, the next two zones where we can expect the price to be would be $52 612-$51 858 and $49 394-$49 247. To continue the growth at least to the area of $59 900-$60 143 the price needs to go beyond the turquoise pattern by breaking the trend line, which looks more unlikely at the moment.