Technical analysis by FATHX about Symbol WBTC: Sell recommendation (11/24/2024)

On the BTCUSD chart, a significant anomaly has been identified, where the price displays an extremely low value due to a bug. Historically, such events often act as psychological 'magnets,' leading the price to retrace toward these levels over time. However, this isn't guaranteed, and caution is advised when interpreting these signals.Key Observations:1. The chart suggests a potential rejection near the $100,000 psychological resistance, which could trigger a major downward move.2. The anomaly indicates a possible retrace to test the $29,753 - $25,093 support zone, with a worst-case scenario hitting the $5,209 bug low.3. Traders should watch for confirmation of bearish momentum around key resistance and support levels before entering any trades.Trading Strategies:Short Positions: Look for rejections near $100,000 or breakdowns below the $29,753 support level.Long Positions: Consider potential bounces around the $29,753 or $25,093 levels for high-risk entries.Disclaimer:This analysis is based on observed anomalies and past patterns. Always use strict risk management and confirm trades with additional indicators.