Technical analysis by QTM_Labs_pwm about Symbol BTC: Sell recommendation (12/26/2024)

Currently, no significant buying pressure is observed, so we may see a minor rebound, potentially up to the 97K level, before the price breaks below the trendline.If the price breaks below the lower level, it could indicate a move toward new lows. However, it remains uncertain whether this is a move to create a new low or a retest of the strong rebound area around 94K for support, followed by another rebound. This will depend on the emergence of buying pressure.If a new low is established, the first target area could be around 89.5K, with a further potential drop to 86K.To establish a new all-time high, at least a consolidation phase within this range is necessary. However, the most decisive scenario would involve breaking significantly lower before recovering.At this point, considering either forming a triple-bottom pattern or targeting 89K for short positions appears to be a prudent strategy.