Technical analysis by KainT21 about Symbol BTC: Sell recommendation (12/21/2024)

Bitcoin (BTC/USD) Analysis – December 21, 2024Overview:Let’s focus on Bitcoin (BTC/USD). Over the past few weeks, Bitcoin has been pumping steadily, but it now appears to be losing momentum. The market structure has created an imbalance, suggesting a potential decline in the coming weeks.Trade Idea:Potential Buy Zone: The price could fall to the marked zone around $73,000.Entry Timing: Avoid entering immediately when the price reaches this level. Instead, wait for a clear reaction—such as bullish confirmation or upward momentum—before considering a buying opportunity.Key Considerations:This setup is similar to the structure seen in the German Index (DE40), which showed comparable behavior before a significant drop. The resemblance in patterns could signal a similar outcome for Bitcoin.Monitor price action closely in the coming weeks for signs of reversal once the price reaches the anticipated zone.Risk Management:Do Not Rush: This is not financial advice. Always wait for clear entry signals before making any decisions.Stay Disciplined: Protecting your capital is more important than making profits. Use proper stop-loss levels to safeguard your trades.Trading Requires Patience: A reactive approach is key. Trading is about responding to what the market shows you, not forcing predictions.Final Note:Making no money is always better than losing money. Watch Bitcoin closely in the coming weeks, and stay disciplined in your analysis. Let’s see how the market unfolds. See you in the next update!