Technical analysis by TradinSides about Symbol BTC: Sell recommendation (12/17/2024)

The overbought state of the #SP500, the upcoming #Fed's #RateCut decision risk and the buy the rumors sell the facts philosophy along with pre-seasonal profit taking could send the price of #Bitcoin as low as 102K.In addition, the BTC liquidation map shows a total of ~$2 billion in highly leveraged bullish positions from the 102K price level. Those have to be erased before we can go higher.Mt. Gox transfers 172M #Bitcoin to new wallets as BTC hovers near 107KSetting the first #TakeProfit at 104.25K