Technical analysis by Bruno8899 about Symbol BTC: Sell recommendation (12/1/2024)

Very risky sell, or wait to buy at 85kLast week, Bitcoin came tantalizingly close to the significant milestone of $100,000 but fell just shy of breaching it. After this near miss, the cryptocurrency experienced a minor correction. Yesterday, Bitcoin tested the $100,000 level once again, only to retreat once more, indicating a persistent struggle to decisively break through this psychological barrier.Like many traders, I am anticipating a more substantial correction in the near term. One potential strategy could involve selling around the $97,000 level, assuming Bitcoin retraces upward before a deeper pullback.However, this is undeniably a high-risk trade for two reasons.First, selling at this level goes against the prevailing bullish trend.Second, with so many market participants eyeing a correction, there’s a risk that the anticipated move might not play out as expected.A safer and potentially more rewarding approach could be to wait for a more pronounced correction, targeting a buy around the $85,000 level. Targeting a buy around the $85,000 level.This strategy would align with expectations of a continuation of the broader upward trend, with Bitcoin eventually breaking past $100,000.If the correction materializes, this level might offer a solid entry point to capitalize on the next leg of the rally.