Technical analysis by NaranjCapital about Symbol BTC: Sell recommendation (12/23/2024)

● Bitcoin reached a record high of approximately $108,390, driven by strong bullish momentum.● However, the rally was short-lived as intense selling pressure kicked in, triggering a rapid decline to $92,500 and erasing some of the recent gains.● The frequent price fluctuations are likely to form a Head & Shoulder pattern, a bearish pattern that indicates a potential trend reversal and further downside.● A sharp decline is expected if Bitcoin breaches below $91,500.