Technical analysis by Golden-Fund-Forex about Symbol BTC: Sell recommendation (9/26/2024)

- Macro Overview Investors have reduced their positions as the illiquid supply of Bitcoin increased. Net outflows from exchanges reached -1,377 BTC, with larger investors making the most withdrawals. ETF investors have taken profits, withdrawing $78.5 million, led by ARKB and FBTC funds. As September ends, optimism is rising with the approach of the historically strong fourth quarter (Q4), while caution is limiting price volatility. - Technical Analysis BTCUSD is facing resistance around the key 65,000 level. The price is trading near the EMA21, indicating sideways movement until a clear breakout occurs. If BTCUSD extends gains beyond 65,000, it could test the next resistance zone at 66,750. On the other hand, BTCUSD may pull back to the 60,600-61,100 area if it breaks below 62,600.