Technical analysis by robertofdz04 about Symbol BTC: Sell recommendation (10/5/2024)

I expect Bitcoin to experience a significant drop to around $46,800, a decline of 25% to 30%. This "rug pull" event would likely be driven by institutions aiming to shake out weaker hands before any further upward movement. Such a correction would purge short-term speculators, allowing for healthier market conditions and setting the stage for a sustainable rally afterward.